Freelance taxes roundup

February 21, 2014

by Jake Poinier

freelance taxesIf you’re like me, the recent deluge of 1099 forms in the mail is a signal that this weekend is time to get crankin’ on my freelance taxes. I’ve come across a number of helpful links in the past few weeks on the topic, so here’s a quick roundup:

How I Do My Taxes. John Soares of Productive Writers offers some great tips on how to be, of course, more productive in managing your freelance taxes. I’ll echo his sentiments about funding your IRA, SEP-IRA or other retirement vehicle to the greatest extent possible. And he made me feel a little less guilty about not using an accounting program, which is nice. John’s updated “The 8 Top Ways to Legally Lower Your 2013 Freelance Writer Tax Bill” is also worth a read.

Tax Advice for Freelancers in 2014: What ACA & New Home-Office Calculations Mean for You. I don’t know about you, but I’m pleased that our friends at the IRS simplified the home office deduction, and the couple hundred extra bucks that I can dump into my Solo 401(k). On the other hand, I’m not so thrilled about the new Medicare surtax.

How To Do Your Taxes as a Freelance Filmmaker. Even if your only experience with films is watching them, Evan Luzi’s series from 2013 does a fantastic job of covering what to expect when doing taxes as a freelancer, common mistakes and potential pitfalls, and deductions. This underscores my belief that you can learn a lot from folks who are in a freelance discipline different from your own. Don’t just listen to writers and editors!

Technology Tax Deductions: Make Your Tech Work for You Twice. Jennifer Dunn does a nice job of uncovering a few of the technology deductions that can make your freelance taxes a little less painful. Every little bit helps!

As I mentioned last week: I love the freedom of being a freelancer. There’s not much to like about paying taxes, but I will say this: The fact is that taxes don’t lie when it comes to assessing the health of your freelance business.

If you’ve posted about freelance taxes on your blog, please share the link in the comments!

And of course, the fine print: I’m not a tax attorney, nor Certified Public Accountant, nor professional tax preparer. (Thank goodness I’m a freelancer who deals in words and creativity, not numbers.) For official advice on your freelance taxes, please consider hiring someone with those credentials. Or, if you’re a do-it-yourselfer, please refer to the IRS’s Self-Employed Individuals Tax Center.

{ 5 comments… read them below or add one }

John Soares February 21, 2014 at 9:43 am

Thanks so much for including me Jake! You’ve included a lot of quality information to help us with our taxes.

I recently ran an excellent guest post by CPA Carol Topp. It’s the CommentLuv link just below.
John Soares recently posted…The 8 Top Ways to Legally Lower Your 2013 Freelance Writer Tax BillMy Profile

Jake Poinier February 21, 2014 at 2:19 pm

You’re very welcome, John. Thanks for producing great content!

Lori March 11, 2014 at 11:54 am

I loathe tax season. LOATHE. Even though I’m much better at bookkeeping and at paying the taxes, I hate the surprise of it.

Thanks for providing such great links. John’s post is an excellent starting point, too!
Lori recently posted…The Professional Writer QuizMy Profile

Jake Poinier March 12, 2014 at 8:17 am

Thanks for commenting, Lori–loathe is a good word for the emotion. But, c’mon now, you’re not REALLY surprised by anything anymore, are you?

john soon August 31, 2014 at 12:35 pm

Appreciate it a lot intended for which include us John! You’ve involved a great deal of top quality facts to help you us all with this income tax.

Recently i leaped a fantastic invitee submit by means of CPA Carol Topp. It’s this CommentLuv hyperlink just underneath.

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