What You Should Know About Taxes as a Freelancer

Freelancing isn’t easy. It’s not all working outside on your laptop or digital nomading your way around the world. Sure, there’s that, but you’re also constantly working to win over new clients, deal with demands from current ones, budget with an irregular income, and...

read more

Things to Do in Reykjavík, Iceland

If you ever go to Iceland and you tell people you're going to Iceland, prepare for this reply: "You know it's going to be cold, right?" This is the response I got from almost everyone when I told them I'd be visiting Iceland this year. "It's going to be cold,...

read more

Why We Get Stuck in Ruts (and How to Break Out of Them)

I’m sitting here, hands hovered over the keyboard, using every ounce of my willpower to squeeze out words. Just a few measly words! Why is this so hard? All I want to do is take a cruise with an unlimited supply of Bloody Marys. Or a nap. A nap is good, too. And...

read more

Luck Is Not the Opposite of Hard Work

I loved parables as a kid. One of my favorites was the parable of the Chinese farmer. It's an old Taoist story, but philosopher Alan Watts popularized it in his book, Eastern Wisdom, Modern Life. It went something like this: Once upon a time there was a Chinese farmer...

read more

Minimalism Vs. Earning More Money

Over the Christmas break, I watched the documentary The Minimalists. As someone who has embraced minimalism since childhood (I was a weird kid with a very clean room), I found myself nodding like crazy throughout the first quarter of the movie. “YES! It’s so true! We...

read more

Why I Don’t Want My Children to Be the Best

This is a guest post from JT. JT writes about family and financial education and you should read his blog, of JustMakingCents.com. My 8-year-old daughter, Zuzzy, dribbles to her right in a hunching gallop, like a wounded wildebeest, before she bounces the ball off of...

read more
kristinwong

I'm Kristin Wong, a freelance writer who’s written for blogs, magazines, and television. Here, I share what I learn about personal finance, digital nomading, and navigating the freelance economy. I dig the idea of helping people live the life they want, not just the life they can afford. Want to know more? Start here.

What You're Saying

  • Justin Malik: Same thing happened to me! I went through my first year like, “This is awesome!” and then...
  • Martin Sumichrast @LevelBrands: Hey Kristin, It is again an amazing piece from you. Very informative and interesting....
  • Kristin Wong: Oh man, you want to talk dramatic, I actually cried when that happened to me, lol. I felt so helpless....
  • DC @ Young Adult Money: I got slaughtered the first year I had freelance income. Okay, slaughtered is a bit dramatic...
  • Anna Weisend: Thanks for the info! This is definitely the unsexy side of any business!

What You Should Know About Taxes as a Freelancer

Taxes as a Freelancer

Freelancing isn’t easy. It’s not all working outside on your laptop or digital nomading your way around the world. Sure, there’s that, but you’re also constantly working to win over new clients, deal with demands from current ones, budget with an irregular income, and so on. It’s a constant hustle toward success, and if you want to make a decent, sustainable income, freelancing is not for the faint of heart.

Oh, and then there’s the completely unsexy side of freelancing: taxes.

Doing taxes as a freelancer isn’t pretty, but hey, the sausage has to get made. When you’re a full-time worker, your employer takes care of taxes for you. All you have to do is file in April. As a freelancer, you own the responsibility entirely.

I learned this the hard way when I completely depleted my savings during my first year as a full-time freelancer. To avoid the same mistake, here are a few tax-related issues you should know about freelancing, independent contracting, or self-employment.  read more…

What You Should Know About Taxes as a Freelancer

Freelancing isn’t easy. It’s not all working outside on your laptop or digital nomading your way around the world. Sure, there’s that, but you’re also constantly working to win over new clients, deal with demands from current ones, budget with an irregular income, and...

read more

Things to Do in Reykjavík, Iceland

If you ever go to Iceland and you tell people you're going to Iceland, prepare for this reply: "You know it's going to be cold, right?" This is the response I got from almost everyone when I told them I'd be visiting Iceland this year. "It's going to be cold,...

read more

Why We Get Stuck in Ruts (and How to Break Out of Them)

I’m sitting here, hands hovered over the keyboard, using every ounce of my willpower to squeeze out words. Just a few measly words! Why is this so hard? All I want to do is take a cruise with an unlimited supply of Bloody Marys. Or a nap. A nap is good, too. And...

read more

Luck Is Not the Opposite of Hard Work

I loved parables as a kid. One of my favorites was the parable of the Chinese farmer. It's an old Taoist story, but philosopher Alan Watts popularized it in his book, Eastern Wisdom, Modern Life. It went something like this: Once upon a time there was a Chinese farmer...

read more

Minimalism Vs. Earning More Money

Over the Christmas break, I watched the documentary The Minimalists. As someone who has embraced minimalism since childhood (I was a weird kid with a very clean room), I found myself nodding like crazy throughout the first quarter of the movie. “YES! It’s so true! We...

read more

Why I Don’t Want My Children to Be the Best

This is a guest post from JT. JT writes about family and financial education and you should read his blog, of JustMakingCents.com. My 8-year-old daughter, Zuzzy, dribbles to her right in a hunching gallop, like a wounded wildebeest, before she bounces the ball off of...

read more
kristinwong

I'm Kristin Wong, a freelance writer who’s written for blogs, magazines, and television. Here, I share what I learn about personal finance, digital nomading, and navigating the freelance economy. I dig the idea of helping people live the life they want, not just the life they can afford. Want to know more? Start here.

What You're Saying

  • Justin Malik: Same thing happened to me! I went through my first year like, “This is awesome!” and then...
  • Martin Sumichrast @LevelBrands: Hey Kristin, It is again an amazing piece from you. Very informative and interesting....
  • Kristin Wong: Oh man, you want to talk dramatic, I actually cried when that happened to me, lol. I felt so helpless....
  • DC @ Young Adult Money: I got slaughtered the first year I had freelance income. Okay, slaughtered is a bit dramatic...
  • Anna Weisend: Thanks for the info! This is definitely the unsexy side of any business!