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How Do You Track Your Income?

By on July 30, 2010. 3 Comments
1099 M2

The benefits of being your own boss outweigh the advantages of working a 9 to 5 job – we’ve already established that. Sometimes, though, we might forget that there are certain responsibilities attached to being a freelancer. For sure, we KNOW these responsibilities are there, but especially for those new to the freelance business, little things might slip by you every now and then. When it comes to taxes, the need to track your income is paramount. After all, how will you be able to declare your income and compute taxes accurately if you do not follow some one system [Read more…]

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Pay Less to Uncle Sam Later by Tracking Your Tax Write-Offs Now

By on May 4, 2010. 7 Comments
Hang on to Business Receipts

Last week I wrote about how, like it or not, keeping track of tax deductions is a year-round job for freelance writers. Yes, I know. Yuck. Don’t you hate when people are part of the problem and not part of the solution? For that reason, I decided to follow up with a post about what you need to know about keeping track of those pesky deductions throughout the year. Hang on to Receipts First, keep receipts or invoices for anything you purchase that could even remotely be considered part of your business. Even if you aren’t sure whether your book [Read more…]

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Now’s the Time to Track Those Tax Deductions

By on April 27, 2010. 7 Comments
Now’s the Time to Track Those Tax Deductions

Wait, what? But April 15th just passed, you’re saying. Can’t I please get a break from all this tax talk? Sadly, no.  While they’re no fun to think about, if you’re a freelance writer, tax deductions are a part of your life all year round. And trust me, you want to think about tax deductions because they’re going to save you money in the long run. What Can I Deduct? Almost anything you buy to use in your business can be deducted on your taxes. In the past, respectable tax payers have been able to convince the IRS that cat [Read more…]

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Freelance Writing Jobs: Frequently Asked Questions

By on March 21, 2010. 8 Comments

At Freelance Writing Jobs we strive to provide you with the best information possible about starting your freelance writing career. With so many posts offering tips and advice, it can be hard to find useful information that’s not on the front page of this blog. Since we receive a lot of email asking for tips on getting started as a freelance writer, how to set rates and more, I thought it was time for a static “Frequently Asked Questions” page. If you’re starting out as a writer, or just want a refresher course, use this handy list as a one [Read more…]

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How to Spend Your Tax Refund

By on February 8, 2010. 5 Comments

Now, let me start out by saying this: if your freelance writing business is making enough money, there’s a good chance you may not be getting too much back in your tax refund this year. In fact, freelance writing businesses that are really shakin’ are going to instead have to pay in taxes – not just right now, but once a quarter. We’ll get into that at a later date. The reality is, though, that many freelance writers, especially those with children, find themselves in a bit of a “sweet spot” when it comes to taxes. They can expect a [Read more…]

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How to Solve Freelance Tax Problems

By on January 3, 2010. 2 Comments
Taxes

by Thursday Bram When something goes wrong with an employee’s taxes, her employer is often responsible when everything is said and done. For freelancers, though, no employer is going to take the time to correct errors. That means that you have to take responsibility for making sure that all of your paperwork is in order and, if it isn’t, that you take the right measures to keep the IRS happy. Contact the IRS Staying in touch with the IRS can simplify most of the problems a freelancer can face when it comes to taxes. In most situations, such as late [Read more…]

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What Every Freelance Writer Needs To Know About Taxes

By on November 3, 2009. 8 Comments
Taxes

by Thursday Bram If you’re making the switch to freelancing, it’s easy to miss some of the details that go along with completing your taxes. There are some major differences in the paperwork if you’re working for a company or if you’re self-employed. While there are plenty of ways to save money on your taxes or even make them easier to complete, there are some nuts and bolts that every freelance writer should know. The Question of Quarterly Estimated Tax Payments As a freelancer, you don’t have a boss — which means that you don’t have anyone handling your taxes [Read more…]

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