Taxes + Freelance
Taxes + Freelance
Out of context: Reply #12
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- pinkfloyd0
From my memory, it works something like this.
Let's say you made 1000 in 2010 in freelancing. You would owe something around 333 in taxes.
Let's say, you had related expenses around 400. Subtract your expense from the total amount of freelance you earned = 600
Then you should owe around 33% of 600 instead of the 1000.
If you freelance, you should really try to take advantage of the write offs. The government is very supportive of freelancers and small business since they are the backbone of our country.