Money: Going, going, gone.

[light_eternal]

It's too much. I thought i was going to get a break here. New job, pay off the bills...instead I paid them off and started fresh at a pretty bad time it seems. In the past week, I have almost depleted myself

Comments

[singdivadarling]

Ouchie! What a doozie! I know the feeling. BUT!! Questions for you. Is freelance your official title? Does this mean that you are a 1099 private contractor? If so, then you have some serious write offs. Keep track of the phone calls you make and which ones are dedicated to your work. Part of the new phone is a write off, part of your phone bill is a write off (these are all standard deduction percentages unless you log your calls and that percentage turns out to be greater). Also track any mileage for work...this means from your door and anywhere you go including work until you get home. Certain utilities are a write off if you work from home. Even the work space that you have designated as work, there's a percentage write off based on square footage of your office. So start tracking things now. Keep food receipts for while you are out on the job. They are a write off too. Any supplies you purchase (pens, ink cartridge etc). Keep all receipts and write it down at the end of each month. This is my advice to you as a private contractor. If you are not one, or you already know all this or whatever, sorry. But I thought it couldn't hurt to at least offer what I know for a friend. I know at some point you wrote in your lj about submitting things to the company for reimbursements, but if you are a private contractor, you can take that hit on yourself and lower your "income" at the end of the year which ends up saving you money.

[light_eternal]

I am a freelance writer of my own right. But I am not a 1099 employee. So May get reimbursed for office expenses bit not at the same level that I may write them off if I were contracted. It's prob for he best because I have known many 1099ers who just got slammed come tax time... And since there's no ring on it... I need their benefits anyway.