Comments on: Tax Time as a Freelancer http://mattbrett.com/blog/freelance/2009/tax-time-as-a-freelancer/ Freelance Web Design, Premium WordPress Themes, and Video Game Reviews Sun, 13 May 2012 16:22:29 +0000 hourly 1 By: andy khouri http://mattbrett.com/blog/freelance/2009/tax-time-as-a-freelancer/#comment-26630 andy khouri Sun, 12 Apr 2009 13:25:10 +0000 http://mattbrett.com/?p=1001#comment-26630 Matt - I found this excellent and helpful post just by Googling freelancers + tax + write-offs. After I finished reading and made it to the bottom of the post, I was pleasantly surprised to discover you designed CBR! I work for Jonah too, he's the bulk of my freelance writing and editing. So I had to leave a comment. Thanks for the advice. -andy k Matt -

I found this excellent and helpful post just by Googling freelancers + tax + write-offs. After I finished reading and made it to the bottom of the post, I was pleasantly surprised to discover you designed CBR! I work for Jonah too, he's the bulk of my freelance writing and editing. So I had to leave a comment. Thanks for the advice.

-andy k

]]> By: Josef Nankivell http://mattbrett.com/blog/freelance/2009/tax-time-as-a-freelancer/#comment-26627 Josef Nankivell Sun, 12 Apr 2009 09:04:52 +0000 http://mattbrett.com/?p=1001#comment-26627 This was a really interesting post. I usually never bother to post a comment, unless it has inspired me in some way. I would like to eventually end up as a freelance web developer - this post was both informative & encouraging! I shall tweet the post to the twitterverse! haha. This was a really interesting post. I usually never bother to post a comment, unless it has inspired me in some way.

I would like to eventually end up as a freelance web developer – this post was both informative & encouraging!

I shall tweet the post to the twitterverse! haha.

]]> By: Ryan Bickett http://mattbrett.com/blog/freelance/2009/tax-time-as-a-freelancer/#comment-26626 Ryan Bickett Sat, 11 Apr 2009 19:08:45 +0000 http://mattbrett.com/?p=1001#comment-26626 Thanks for the post. I am looking to jump into the freelance website design world in the not too distant future and have been looking for good posts that cover the business side of freelancing. So, thanks for publishing this! It was a very helpful read. Thanks for the post. I am looking to jump into the freelance website design world in the not too distant future and have been looking for good posts that cover the business side of freelancing. So, thanks for publishing this! It was a very helpful read.

]]> By: Brendan Falkowski http://mattbrett.com/blog/freelance/2009/tax-time-as-a-freelancer/#comment-26625 Brendan Falkowski Fri, 10 Apr 2009 11:40:53 +0000 http://mattbrett.com/?p=1001#comment-26625 Glad you put this together after mentioning it on Twitter. I never would have thought to deduct office furniture. Glad you put this together after mentioning it on Twitter. I never would have thought to deduct office furniture.

]]> By: Dan Cameron http://mattbrett.com/blog/freelance/2009/tax-time-as-a-freelancer/#comment-26620 Dan Cameron Tue, 07 Apr 2009 10:37:57 +0000 http://mattbrett.com/?p=1001#comment-26620 Specific email: That's a good one, it would help my label/filter setup in gmail. PS: The beauty of separate accounts is not having to keep receipts at all--your monthly/yearly statement is your receipt. Specific email: That's a good one, it would help my label/filter setup in gmail.

PS: The beauty of separate accounts is not having to keep receipts at all–your monthly/yearly statement is your receipt.

]]> By: Maranda http://mattbrett.com/blog/freelance/2009/tax-time-as-a-freelancer/#comment-26619 Maranda Tue, 07 Apr 2009 10:23:11 +0000 http://mattbrett.com/?p=1001#comment-26619 Nice article, a lot of people might not know this stuff. I'm also self employed and benefited from a lot of deductions for last year. Another tip I wanted to add is that you can effectively split your income by hiring your spouse (or kids) to work for you. So if you have a lower income spouse, you can pay him/her to do anything reasonably related to your business. I keep on top of my receipts all year round, so it doesn't become a nasty job at tax time. I have a spreadsheet for expenses by category and it only takes a minute to log an item before tossing the receipt in a file folder. Because I do home day care I can claim a portion of my grocery bills, so I'm dealing with a LOT of receipts. But even if you have less frequent purchases it's really helpful come April if they're all logged and categorized. i did my own taxes with Quick Tax's small business software and it took no time at all. Nice article, a lot of people might not know this stuff. I'm also self employed and benefited from a lot of deductions for last year. Another tip I wanted to add is that you can effectively split your income by hiring your spouse (or kids) to work for you. So if you have a lower income spouse, you can pay him/her to do anything reasonably related to your business.

I keep on top of my receipts all year round, so it doesn't become a nasty job at tax time. I have a spreadsheet for expenses by category and it only takes a minute to log an item before tossing the receipt in a file folder. Because I do home day care I can claim a portion of my grocery bills, so I'm dealing with a LOT of receipts. But even if you have less frequent purchases it's really helpful come April if they're all logged and categorized. i did my own taxes with Quick Tax's small business software and it took no time at all.

]]> By: Matt http://mattbrett.com/blog/freelance/2009/tax-time-as-a-freelancer/#comment-26618 Matt Tue, 07 Apr 2009 09:29:05 +0000 http://mattbrett.com/?p=1001#comment-26618 You mean, to track all of my expenses? I don't, actually. I just have a folder setup in my mail client where I dump all electronic receipts, and a physical file folder for things purchased in the real world. You mean, to track all of my expenses? I don't, actually. I just have a folder setup in my mail client where I dump all electronic receipts, and a physical file folder for things purchased in the real world.

]]> By: Matt http://mattbrett.com/blog/freelance/2009/tax-time-as-a-freelancer/#comment-26617 Matt Tue, 07 Apr 2009 09:27:42 +0000 http://mattbrett.com/?p=1001#comment-26617 That's right - I always bring my receipt from the previous year's visit with the account as it can also be written off. That's right – I always bring my receipt from the previous year's visit with the account as it can also be written off.

]]> By: Matt http://mattbrett.com/blog/freelance/2009/tax-time-as-a-freelancer/#comment-26616 Matt Tue, 07 Apr 2009 09:26:48 +0000 http://mattbrett.com/?p=1001#comment-26616 Didn't know that about traveling more than 50 miles, thanks for sharing that little tidbit. I actually haven't met a client face-to-face in the years I've been working freelance, so no traveling or entertainment write-offs for this guy. Didn't know that about traveling more than 50 miles, thanks for sharing that little tidbit. I actually haven't met a client face-to-face in the years I've been working freelance, so no traveling or entertainment write-offs for this guy.

]]> By: Matt http://mattbrett.com/blog/freelance/2009/tax-time-as-a-freelancer/#comment-26615 Matt Tue, 07 Apr 2009 09:25:04 +0000 http://mattbrett.com/?p=1001#comment-26615 That's a great tip, Dan. And something I've been doing for a while now. I actually have a specific email account I use for making purchases so all invoices and receipts end up in the same place. That's a great tip, Dan. And something I've been doing for a while now. I actually have a specific email account I use for making purchases so all invoices and receipts end up in the same place.

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