Freelance, What do I do?
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- susan-deaux
Hi, I've recently found myself jobless and trying to pick up random freelance work. I'm happy to say there has been a fair amount of repsonse.
Can anyone tell me some normal procedures I'm supposed to be taking? As far as payment, billing, taxID's. I can do the work but I'm unfamiliar with the payment formalities.
Thanks.
- k0na_an0k0
susan.
most places will 1099 you. you'll get those around the same time as you would have for your w-2 (early february).
when it comes time to do your taxes and you need a state id it's easy. you can go to your states website (i did mine through turbo tax) and the process took about 5 minutes. you can also do that around tax time.
for most of my projects i ask for 50% up front. this helps keep clients on their toes about giving me content and what not on schedule. if you were to give them 100% product with no payment from them they may get lax on getting you things and sending you the payment. if they have 50% invested it helps the process.
if you're doing say 5k a month, 1099 it would be wise to send in $500 here and there when you can to get ahead come tax time, rather than paying in nothing and finding out you owe 6 grand.
good luck!
- in8_v40
Get the Graphic Artists Guild Handbook. Amazon.com has it.
That will tell you everything you will need as far as business practices, contract writing, proposals, pitch work, late payments, tax prep, etc.
- susan-deaux0
Much Appreciated.
Sounds like I don't need to go run out and get a business license. Would I need one if I'm not getting 1099'd. Is it common to request one or the other?
- susan-deaux0
I'll check it out. thanks in8
- kbags0
Well, k0na's got you covered on the freelance bit...but if you're in LA (or any of their other markets) and looking for some high profile work, I HIGHLY recommend calling these folks:
http://www.us-circle.com/They'll get you kickass work faster than you can say "jobles--"
- johndiggity0
the best way to protect yourself financially is to set yourself up as an llc. that way, you can deduct your taxes (includes fed. state, and ss!) on a per-project basis and not get screwed come april. another benifit is that you can write off any business losses on your personal taxes, as well as make line-item deductions on business expenses (you can write off a protion of your rent or mrotgage if you are working from home, as well as other expenses).
it really is the way to go. it's a little more time consuming to set up than just jumping into freelance, but it's worth the time versus the hassel and problems you may have down the road. plus once you set it up, you can have it for life unless you go bankrupt.
- barbtastic0
re:
johndiggity
(May 2 06, 15:06)
----------------------i am set set up as an LLC, been freelancing for 3 years and can already do all of those things.
- barbtastic0
shit- i mean to say i am NOT set up as an LLC. damn happy hour.
- ********0
as a european i jsut wanted to say i have no FUCKING CLUE WITH WHAT YOU GOATFUCKERS MEAN WITH LLC AND 1099'd and what not.
but then i am cranky as i haven't done jack tonight..
- kbags0
barbtastic, look out! the IRS has already taken down your web page...your powerbook is next!
- susan-deaux0
This has helped tremendously. Much Appreciated.
- Neuarmy0
Anyone know when the new version of Graphic Artists Guild Handbook is coming out? The current one is copyrighted 2003...
- jasonmino0
I do freelance aswell Im glad i know so many designers or I dont think id be able to get any clients on my own ;)
- lvl_130
i didnt read all the posts but i'm assuming someone has already mentioned this book: http://www.amazon.com/gp/product…
you should def. pick it up. it has a ton of info right up your alley