Reflection and Assessment month really has me thinking about taxes.
I’m looking back across my tax experiences over the last few years and wanted to share a few lessons I’ve learned — and that I wish baby freelancer Megan would have known earlier in my freelance career.
- Your money isn’t your own. That $300 per blog agreement you’re so happy about finally signing up? Yeah…you’re only keeping $200, because freelancer taxes are evil.
- Quarterly taxes are something you should be thinking about.
- Track your expenses better. Just putting everything on a business credit card is NOT enough.
- Starting off with that LLC off the bat? Good idea.
- QUARTERLY TAXES ARE SOMETHING YOU SHOULD BE THINKING ABOUT.
- Start looking at a solo 401K NOW to shave off some of that tax burden!
What about you? If you’ve been keeping up with your Self-Assessment Worksheet, you should have some interesting memories to look back on.
If not, or if you haven’t been talking about taxes in your worksheet, do your future self a favor and start documenting!
Megan
Community Discussion Update
This week, the Skype group's been pricing strategies, lying clients, and what happens when you agree to “redo” somebody else’s work . Make sure to come by with your own questions!
Here are the resources that you’ll want to check out this month…