I haven’t logged into TurboTax since the beginning of February, when that big red $1,254 showed up on the screen. I knew I would have a tax bill this year and set aside some money for it every month. I’m not ready to give up that much money yet so I’m holding out as long as possible. But for the sake of argument, let’s talk
Not only is it hard for people to articulate what I do, but they often don’t believe it’s a worthwhile undertaking. I’m a freelance copywriter – a “real job” by most people’s standards once they know what it actually is, but it’s often referred to as “that writing thing you do.” Whatever. I can handle the confusion, but for every person who can’t seem to
Reading Yo’s last post about accountability really got me to thinking, “Are people having financial trouble because they failed to take ownership of their finances?” Could that one word – ownership – have prevented the entire mortgage meltdown and subsequent recession? Taking ownership of your freelance finances means charging a rate you can live on. It means managing the money you have and storing the
To continue in my (very short) series of common questions asked of a freelancing mom, I’ll now reveal my true personality. It’s not very pretty – really, I know that. But this mom isn’t really that soft and gentle when she’s not dealing with her own children. It’s the most common question asked of freelance writers around the world that gets under my skin. “Will
Slow paying clients are a PITA and the wallet. Fortunately, all of my current clients pay promptly, but I have had clients who were slow to follow up on invoices. It’s annoying when your bills are coming due in a few days. It’s infuriating when your bills were due last week. It’s critical to keep the money coming in on a steady basis and to
When I first started freelancing, I realised that my productivity decreased if I were working from my laptop in a room where there were distractions of some sort. Whether it was the TV, radio, girlfriend or cats, I found that I was producing more work on a quicker basis when I was alone. So, mixing my passion for DIY with my need for a separate
It has been my experience that as soon as “regular” people, or those that don’t have their own online businesses, find out what I do, they always want to know two things: “How do you do it all?” -and- “Can you show me how to do what you do?” Usually the second question is accompanied by some information about how great he was at writing
If you’ve been freelancing for any length of time, you’ve probably noticed that work seems to come in spurts. There are certain stretches of time when you’re completely booked up and then there are times that it seems like there are no jobs out there. If your work comes in such varying cycles, your money will come in on the same cycle. There will be
It’s a funny thing really, but looking back on pregnancy it seemed like a blessedly simple time. Of course, that was before the baby came out of the tummy and started vehemently disagreeing with me all constantly, so it’s probably a matter of course. I also remember distinctly thinking during pregnancy that it was so much more challenging to work while manifesting another human than
As freelance writers, our income is very unpredictable. We can set income goals, market ourselves, and create several income streams, but the truth is that it’s hard to say with certainty how much money we’ll make next month or six months from now. Even with contracts, clients come and go. So do the advertisers and sponsors that pay for our own blogs. A fluctuating income
I have two under five. I’ve survived one toddler and have just a few months until my second bout of toddler-motherhood expires. It’s a trip; it’s a pain; it’s outrageous; it’s a blast. I love my toddlers, and I love to watch them learn, explore and grow at such an outrageous pace. Unfortunately, it didn’t take much to learn that when you’re watching a toddler
One of the reasons you decided to work freelance, whether part-time or full-time, is to have the chance to work from home. You may receive some tax benefits from having a home office. Read on to learn how can you take the home office deduction on your taxes. Home Office Deduction Rules First, the IRS requires you to use your home office “exclusively and regularly”
I know now what I didn’t know then. I spent quite a bit of time working up to a full-time income freelancing while keeping the day job during pregnancy so that after my baby arrived, I could stay home and spend more time with him and do the mommy thing the way I wanted to. I was thrilled that it seemed to be working out
What’s more refreshing than a brand new year. It’s another chance to do things right with your freelance writing business and your finances. Here are seven things you should do during these first few weeks of January to get your finances on the right track. 1. Evaluate your rates. As you think about your writing rates for 2010, consider how you fared last year. You
Want to make money? Watch an enterprising 4-year-old. Granted, my kids have watched two parents work from home and have been to the bank more times in their short lives than most kids go in a few decades, but they’re fun to watch and have taught me quite a bit about making money. Maximize Productivity If I have a project that takes about two hours
Let’s talk about credit for freelance writers. Having good credit is important for freelancers because our income is scrutinized a lot harder when we apply for credit cards and loans. Because a freelancer writer’s income is somewhat less predictable and harder to prove than that of a full-time employed worker, we need to have a solid credit history to help get approved for credit card
Anyone with a home office needs an arsenal of tools and tricks of the trade. Parents, however, need not only the basic office supplies, but other essentials as well to balance their obligations to family and professional lives. The needs of each individual and family can vary, but here are a few of my essentials as a work-at-home parent. Your Own Computer If you’re sharing
The two things I loathe about a freelancer’s finances are health insurance and income taxes. I thought I hated paying taxes when I worked full-time for someone else. Seeing the money that was taken out of my paycheck was depressing. I didn’t know how good I had it. Paying tax as a freelancer is even worse. Not only do we pay more taxes, we have
If you’re anything like me, your office is a tiny cell of a room where there’s barely enough room for your bed and your fainting couch, and opening the filing cabinet can turn into an acrobatic feat. When saddled with limited office space, its time to think vertical and utilize your wall space. This month’s freelancer DIY project is how to hang shelves. Even if
I know what you’re thinking, Ugh. Budgeting. The only thing worse than budgeting is licking sandpaper. As boring as it feels, budgeting is especially critical for you as a freelance writer, because your income is less predictable. Creating a budget takes just three steps: totaling your monthly income, subtracting your expenses, and adjusting your budget based on the result. You’ll create your budget using the
As a freelancer, you have to treat money a lot differently than if you were employed by a huge corporation or even a small business. And that can lead to costly money mistakes. Your paychecks aren’t guaranteed. No one is withholding income taxes on your behalf. You have to be much more conscious of how you’re spending the money you make and avoid costly financial
Every freelancer needs a real work space –a place to tackle your projects and assignments without wrestling with your child’s latest play dough creations and free from the risk of any crayon incidents on important contracts. It can be a trick to find the ideal space for a work-at-home mom or any other freelancer as many of us don’t have the luxury of our own
Before I was a freelance writer, I was a branch manager at a corporation. Whenever I needed something for the office, I found it in a catalog, placed an order, and welcomed the FedEx guy a few days later. Now that I’m in charge of my own office, though, those catalog prices begin to look exorbitantly expensive. Why pay over $100 for a large white
I know. It’s one of the last things you want to read about, but it’s one of the most crucial parts of freelance success. Don’t worry, you won’t read anything about cash flow statements, balance sheets, or profit/loss statements – they’re complete overkill for the average freelancer. Instead, I’m going to give you some easy-to-follow tips on managing your records throughout the month so it
In the many categories society assigns to mothers, the freelancing mommies have the envy of other mothers for the supposed flexibility of their schedules. Yet those envied work at home moms have another story to tell – especially when there are young children involved. Being a working mother of any caliber is tough, but when the balancing act of working at home is a free-for-all,
In one community I’m very active in, there’s a particular member who always gives me a good laugh (unintentionally). He repeatedly claims that the rates professional writers charge are “highway robbery,” essentially because he feels articles are easy and / or quick to write. Originally I figured he was probably just burned by a lousy writer in the past, or jealous because he can’t command