Tag Archives: freelance tax issues

Moving, Taxes, and Freelance Writing

moving-truckQuite frankly, moving sucks. It sucks even more for a freelance writer who–I’m talking about ME here–stupidly schedules a move both in the ass end of winter in Chicago AND before tax time. This guarantees that all my vital paperwork will go missing until I have to file an extension with the IRS.

The upside is, in my case, I get a nicer office, a great place to spend the majority of my day, and a sunny front room where I can go to take a break from it all and take in some sunshine before going back to the salt mines.

Here’s the advice every single writer dispenses once they’ve screwed themselves by moving without thinking ahead: Pack all your vital papers, put them aside and keep them close. Don’t let anyone take them out of your sight. You’ll want to drink a bottle of sulphuric acid later if you lose ’em.

Now here’s the advice you WON’T get–the EXCLUSIVE good insider dirt you come to expect from Freelance-Zone.com. Ready? Continue reading Moving, Taxes, and Freelance Writing

Freelance Pay and Your 2009 Taxes

calendarMark your calendars, April 15, 2009 is fast approaching. Tax time is hell time for most freelancers, but here’s a little hint that will make tax season 2010 seem like a breeze. Grab your pens, kids, this one’s a real brain tickler.

When you see how much you owe in taxes for 2008, make a mental note. That’s the minimum you should consider spending on your business in legitimate, legal expenses for 2009.

You’re going to earn more freelance money in 2009 than you did in 2008 unless you hit bad luck, give up and go back to your day job or just quit trying. Plan on spending more money on your business this year–what’s the point in giving it over to the government when you can take legit, IRS-approved deductions for upgrading your office, advertising your business or hiring casual labor to take some of the donkey work off your plate?

Why did I choose a 2005 calendar to illustrate this blog post? Because I wound up owing the IRS for my earnings in 2005, and if I had just planned ahead and made some crucial investments in my writing business I could have paid far less while giving my work a much-needed boost with a high-speed Internet connection, a GOOD cell phone instead of the crappy one I had put up with for so long, and several other upgrades.

Be smart in 09. Do the math and plan ahead. Make those purchases and promote your business. You should pay all the taxes you owe–but make damn sure you don’t owe as much as you could when there are legit deductions to be had.