Getting Ready for Tax Season, Hazards of Contract Work, Freelancer GigsBy Kylie Jane Wakefield February 7th, 2013
The Strategist picks the day’s most relevant and interesting stories about the world of content from around the web. Here’s what you should be reading today:
Taxes for Freelancers
According to AOL’s Daily Finance, 16 percent of freelancers have been unable to pay for their taxes.
Freelancers need to watch out for the IRS and expect to pay taxes and report income through 1099s. Home offices can be deducted, as can travel, health care, and computers. Freelancers absolutely must save up for their taxes and have six to nine months worth of savings.
Problems with Freelancing
Freelance Folder highlights exactly what can go wrong when freelancing.
For instance, when writers work as subcontractors, they are risking miscommunication since they are not working directly for an end client. Contracts are necessary to have with an intermediary client since the end client might not even know the freelancer exists.
Everything should be in writing, and it’s not the best idea to work with friends and family. Invoices need to be sent out promptly and spelled out in contracts to avoid any payment issues.
Making Money Freelancing in 2013
According to Lisa Mason, there are many ways that freelance writers can make money this year.
She says they need to let go of doubts and stop being afraid of rejection. Writers have to go out (in real life) and network, which includes handing a business card to everybody.
They can join a writer’s community, and should learn to master LinkedIn. She says, “When you build a solid, professional profile for yourself, people will also reach out to you and they’ll be ready to treat you a lot better than someone on some bottom-feeding job board.”