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Out of context: Reply #27
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- k0na_an0k0
rasko. the one piece of advice that i will tell you about freelance in terms of taxes.
if you're working out of your home of course you know you can write off things like your phone, heat, gas, electric, modem... etc. but what they don't tell you is that it's relative to the size of the space you work in.
for instance. say your home (for numbers sake) is 1500 square feet and your 'office space' is 100 square feet. they only let you write off the 100 square feet of space, not everything.
SO, if you fudge the numbers a bit and say your home is 1500 and your 'space' is 1000 (your explination could be you do a lot of sketches/drawings/comps in the kitchen at the table, on the patio, or say you have a drafting table in another room or whatever) so that you get a larger chunk of your bills as a write off.
this works much better if your in a 750 sq. foot apt. and you can say 500 of it you work in.
good luck bro.