gravity well (Rob Tomlin)
1 min readDec 8, 2019

--

I would recommend every freelancer get a tax person. The first reason is so you can get your quarterly estimated taxes as accurate as possible. And pay quarterly so you are not getting hammered all at once. The other is deductions. You mentioned some but the self employment tax you pay is deductible as is percentages of not just your home (office) but utilities, internet, health insurance, etc.

Don’t rely on turbo tax or something to get it right.

Also, in many states in the US you need to pay state taxes and should be prepared to set aside money for that and pay that quarterly.

The other thing to consider is your car and mileage. Your car can be for business or not. If not you can deduct a percentage of your miles for work activities such as visiting clients, getting supplies, etc.

You can also deduct a percentage of miles for doctor visits, dentist, etc.

My point being. There is a lot more to taxes than you think.

I’m not a tax person so I certainly have not covered it all.

--

--

gravity well (Rob Tomlin)
gravity well (Rob Tomlin)

Written by gravity well (Rob Tomlin)

Software Engineering Manager. Explorer, learner, teacher, and more

No responses yet