Freelance Taxes

Out of context: Reply #8

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• woodyBatts0

  My advice...

  1. Get an accountant, always look to an expert
  2. When you deposit an invoice place 33% in an account that you do not touch
  3. Upgrade your equipment
  4. Max out your retirement contributions

  Last year I was royally screwed and I invested in an advisor. In the tax world there are lot of things that people don't do because they think it's too expensive, but the reality is, is that it lowers your tax burden.

  For example having a 2 bedroom apartment allows you to write off 1 full bedroom for work space, where having a 1 bedroom you can only write off a small percent. Just an example.

  woodyBatts 0Permalink

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