A Financial Tip

Hi Freelancers! We have been spending most of our free time discussing ways to get traffic to the site so it can start being productive, so we have sort of let the site lapse a little bit, but I am back to write another blog entry for you, and I hope to start getting much more content on here.

By the way, that brings me to this… since we are working so hard on trying to get traffic, please link to us and tell your partners about us. Anyone you know that is in any field of freelance or can use some knowledge about the anything related to being a freelancer is welcome here.

Now on to the financial tip. One place freelancers lose the most money, I think, is in taxes. Yes, tax season is coming up next spring. That is a long time from now. The difference is that if you prepare for tax season now, you limit mistakes and oversights. Print EVERYTHING. Keep EVERY receipt. Put them all somewhere in particular. Some people I know use a shoebox. It doesn’t matter. Keep every record you can of every dollar earned and every expense put out. This way, when tax season comes around, you do not find yourself missing an expense. It would be terrible to forget to deduct that new $150 printer or $45 lunch at Outback with a prospective client, wouldn’t it? These things add up! Keep the records so you cannot lose them, misplace them, or forget them.

Lastly, remember that if you spend a dollar, it is a dollar you no longer have. Try to keep expenses as low as possible. You do not need that office space right now when your bedroom or den is working fine. You really do not have to buy that new cell phone right now when the one you have still takes calls and checks e-mail.

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