Some Important Tips for Freelancers

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This article talks about few tips to make your life easier if you choose the freelance route in one of the reading-for-pay careers we've described. Freelancing offers you wonderful opportunities to be your own boss, plan your work schedule around family responsibilities or other interests, and in general, to tailor your life to your own specifications. However, there are a few pitfalls to the freelance life.

Time Management

Time management may be harder for you if your business is home-based because your family and friends (and you, yourself) may find it difficult to see you as The Business Person in a home setting.



Getting Organized

We all know people (you may be one of them) who are always "busy," yet never seem to accomplish many of the things that are important to them. Then there are others with extraordinarily full schedules who seem able to fit in an unexpected activity with effortless ease. How do they do it?

There are two key principles to keep in mind:
  • Priorities

  • Organization
Your new-found freelance work will, of course, be a priority, but so will your family and your other activities. Make a list of all the things that are important in scheduling your time. Make another list of things you'd like to do if you had the time. Put your lists together and schedule your priorities. Make an "A" priority anything you absolutely have to-or want to-do. "B" priorities are those things that you'll do if you have extra time. "C" priorities are things that can be let go indefinitely.

Scheduling

At first, when you're new to freelancing, you'll probably want to make a daily schedule to be sure you can fit everything in. Don't be too rigid, though. Allow for interruptions; you know you'll have them.

It's important for your family to understand that, although you're working at home, you are working. Set aside time for your work when you're not to be interrupted. By the same token, you might want to give older children the same privilege. Time should be set aside for you and your family to be together as well. Children don't resent not being included in everything if they know there will time just for them.

Answering Machine

One of the best things you can do for yourself is to buy an answering machine. Tell your friends when your working hours are and ask them not to call during these times. When the phone rings, you don't have to answer it; you'll be able to hear who the caller is if he or she leaves a message. If it's important, you can call back immediately.

The "Blah" Days

Some days you just won't be able to get started on your freelance work no matter how you try to talk yourself into it. We all have those days. Instead of fretting about what isn't getting done, take a break. Go for a walk or drop into an exercise class. (Exercise is one of the best ways to cure the "blahs.") Maybe going shopping will do the trick. If nothing gets you back on the track, don't worry about it. Give it up for the day and start fresh in the morning. Chances are you'll be twice as productive for having taken the time off.

When There's More Than You Can Handle

says you have to be the last of the big-time martyrs? If household chores and work deadlines are getting you down get some help from your family, hire a high school kid to help you with the cleaning or perhaps babysitting. If all else fails, let something go.

After you've been freelancing for a while, things should settle into a fairly smooth routine, but you can always expect that sometimes you'll have more work than you want. Other times you'll wish you had more. That's the nature of the freelance business: it's often feast or famine. When you realize you don't have to punch a time-clock, rush off with all the other commuters in the morning, or drive during rush hour, it's all worth it, isn't it? You can relax and have another cup of coffee and maybe even read the paper as you watch your neighbors scurrying off to work.

Taxes

Managing your time is one of the new situations you'll face as a freelancer. A different way of figuring your taxes is another. As a freelancer, you won't have any deductions taken from your pay. Instead of a W-2 form, you'll receive what is referred to as a 1099 from all the people you've done work for throughout the year. This form is the record of money earned by an independent contractor.

Estimated Taxes

Since you won't have taxes deducted throughout the year, you'll have to estimate your taxes and pay them quarterly. The IRS provides form 1040ES for this purpose.

Income Tax Returns

Even though you pay quarterly, you still must file the 1040 form in April, and you must also file Schedule C. Schedule C offers you the opportunity for all kinds of tax savings in the form of business deductions.

Business Deductions

All legitimate business expenses are deductible, at least in part. These include the percentage of your house used for your office (it must be a separate room not used for another purpose), a percentage of your utilities, the cost of office supplies, advertising costs if you had any, your automobile expenses for picking up and delivering work, messenger services for the same purpose, the cost of business cards and stationery, dues to professional associations, office furnishings, postage, and the cost of business-related courses and/or conventions. This is only a partial list. As you can see, it pays to be a freelancer, not only when you earn the money, but also at tax time.

A Last Word

As you've seen through these pages, there's a career in reading for pay to suit nearly everyone's talents, lifestyles, and priorities. If you love to read, one-or more-of these opportunities should open up new horizons for you. Good luck!
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