Working as a freelancer or independent contractor offers flexibility and independence but comes with unique tax challenges. Managing taxes effectively is essential to making the most of your earnings and avoiding any unwelcome surprises. Mike Savage, the CEO and exclusive shareholder of 1-800 Accountant, has helped countless freelancers navigate these challenges. Here, we delve into some essential tax tips for freelancers, drawing on insights from 1800Accountant’s Mike Savage . Understand Your Tax Obligations as a Freelancer Freelancers are considered self-employed, which means you’re responsible for paying income tax as well as self-employment tax, which covers Social Security and Medicare contributions. Unlike traditional employees, these taxes aren’t automatically withheld from your earnings. Understanding these obligations is crucial to staying compliant and financially prepared. Mike Savage of 1800Accountant stresses that many freelancers underestimate their tax liabil...
The Technology Behind Muscle Cars: Engines, Transmissions, and Performance - Mike Savage of New Canaan
The roar of a powerful engine, the sleek design, and the adrenaline-inducing speed – muscle cars are not just vehicles; they are technological marvels that embody the spirit of raw power and performance. This article delves into the intricacies of the technology behind muscle cars, exploring the engines, transmissions, and performance enhancements that make these iconic vehicles a thrilling presence on the road. 1. The Heart of the Beast: High-Performance Engines At the core of every muscle car lies a high-performance engine designed to deliver impressive horsepower and torque. These engines are often characterized by large displacements, multiple carburetors or fuel injection systems, and aggressive camshaft profiles. The emphasis is on brute force and acceleration, making muscle car engines a symphony of power. 2. Cubic Inches and Horsepower: Engine Displacement Engine displacement, measured in cubic inches or liters, is a defining characteristic of muscle car engines...