Demystifying Taxation For Solopreneurs, Freelancers, Gig Workers, and MSMEs

While taxation for employed individuals is relatively straightforward, that can’t be said for those who are self-employed, in the gig economy, or running a sole prop or SME, who don’t have EA forms and have various income streams to declare.

So today on BizBytes, we attempt to help demystify the wide and complicated world of taxation for self-employed folks, MSMEs, and SMEs. We explore how taxation differs for business income; be it MSMEs, freelancing, or gig-workers, and what you should know when it comes to filling, tax deductions, address common mistakes,and how to optimize the next tax season.

Helping us with this conversation is Thenesh Kannaa, Partner and Tax Advisor for TraTax, an independent tax advisory firm.