Comments on: Freelance Tax Tips

By: Freelance Writing Jobs » Blog Archive » The Importance of Keeping Good Records

Tue, 29 Apr 2008 14:32:57 +0000

[...] joke that I married an accountant because of his record keeping skills and because he handles my taxes. The truth is, his success at keeping track of the family finances, is contingent on my success at [...]

By: Freelance Writing Jobs » Blog Archive » Oldies but Goodies: A Look Back Through the FWJ Archives

Thu, 06 Mar 2008 21:43:05 +0000

[...] Freelance Tax Tips – A wonderful resource by Lela Davidson. [...]

By: Shane

Shane — Thu, 21 Feb 2008 21:56:57 +0000

Great education. Figuring out how the taxes worked early on was the hardest part for me, but once you go through a year or two I you get pretty good at navigating the muck.

Thanks for sharing!

By: 3 Reasons To Think Twice Before Claiming the Home Office Tax Deduction

3 Reasons To Think Twice Before Claiming the Home Office Tax Deduction — Fri, 11 Jan 2008 05:56:44 +0000

[...] Davidson, guestwriting for FreelanceWritingGigs, feels that the home office deduction “is mired in muck“. I agree – the tax provision [...]

By: Freelance Writing Jobs - The Internet’s #1 Freelance Writer Community » Blog Archive » 9 Things Freelancers Should Do Before the End of the Year

Fri, 23 Nov 2007 15:55:17 +0000

[...] like to do to start the new year fresh and hassle-free. Though I don’t necessarily send in my taxes at the very beginning of January, I like to have all of my accounts in order so I can close out the [...]

By: Lela Davidson

Lela Davidson — Mon, 01 Oct 2007 02:01:50 +0000

Here’s a nice list of deductions:
http://www.problogger.net/archives/2007/09/28/46-tax-deductions-that-bloggers-often-overlook/
Tax Girl appears to be a great resource!

By: Carrie

Carrie — Wed, 26 Sep 2007 17:43:49 +0000

This was fabulous education, thanks! I just want to put in one note (with the caveat that this was my experience only). I’ve worked full time for an outside employer taking takes with freelancing on the side for the past three years. The first year, I did not submit estimated taxes and ended up owing about $2,500 (with a $10 penalty for not paying estimated) when I did my taxes. Last year, I paid estimated taxes, but my husband and I had lots more deductions because of his school, so we ended up receiving $1,500 back. This year, I’m hoping that we’ll break about even!

I just wanted to let people know that even if they’re freelancing part time, they still can get smacked with a huge tax bill! Put 30% away no matter what, and talk to a CPA before tax time!

By: Kendra Dahlstrom

Kendra Dahlstrom — Wed, 26 Sep 2007 14:21:11 +0000

Wow, thanks for the info! I have been setting aside 30%, but had NO idea why. Now I know that it will probably be appropriate. I can relax a bit now.

By: J. Jackson

J. Jackson — Wed, 26 Sep 2007 11:32:35 +0000

Thank you thank you thank you….. This little education ditty cleared up several things for me. I’m realizing I’m going to have to break down and find a CPA. I live in a samll town but there are 73 CPA’s listed in the Yellow Pages! What a hoot!

By: Lela Davidson

Lela Davidson — Wed, 26 Sep 2007 03:10:40 +0000

Yep, it’s Schedule C. That’s not to say that things don’t get put under Other Income sometimes, but self-employment income belongs on Schedule C. The good news is, if you have a few deductions, you may not reach the threshhold to pay the self-employment taxes.