Freelancers Union :: Resources. Tips, tricks, and tools. Taxes are different for freelancers, and what you learned from the 9-5 world is no longer applicable. One of the most common questions we get—especially from new freelancers—is "How do I file my taxes? " Here's a set of tips to help you out. What you'll need to do: You'll need to pay taxes quarterly.
Bonus: you can deduct the cost of tax preparation services from your income. Things to keep in mind: You get double taxed. Words, words, words: { ten nahyn-tee-nahyn } An IRS form used to show your miscellaneous income. Deduction { dih-duhk-shuhn } An expense that you can subtract from your income when calculating a tax rate. Self-employed { self-em-ploid } What the IRS calls people whose earnings come from work done on their own, rather than as an employee of a company. Deductions All business expenses are deductible, but make sure you keep your receipts—both the proof of payment and the invoice from the vendor. Here are some of the big things that can reduce your tax bill: Marketing Strategies & Ideas For Your Business. Simply Zesty - Social Media Agency, Training & News – Dublin, Ireland. Adweek – Breaking News in Advertising, Media and Technology.