The Hidden Expenses of Freelancing — What It Costs to Get Started

The Hidden Expenses of Freelancing — What It Costs to Get Started

Freelancing, Getting Started, Money & Taxes
Moving from a full-time job to freelancing might feel like you’re just switching jobs. But, it’s a bit bigger than that. What you’re really doing is transitioning from an employee to the owner of your own business. Overall, freelancers can make more money and are happier with their lifestyle than they were as full-time employees. However, that freedom comes with a few payoffs. As a business owner, you’ll incur business expenses. Overall That’s where the hidden expenses of freelancing come in. They include expenses that you didn't know about or didn't expect to change. When you learn to think of yourself as a small business owner, then it will be easier to understand when and why you need to invest in your freelance business. If you want to learn more…
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4 Best Ways to Save for Retirement as a Freelancer in 2020

4 Best Ways to Save for Retirement as a Freelancer in 2020

All blog posts, Money & Taxes
When you leave your job to work as a freelancer, you gain a lot of freedom over your time and money. However, one of the main perks of many jobs is the option to contribute to a 401(k) retirement plan.  When you leave a job, you can take what you’ve already contributed to your 401(k). But that doesn’t mean you stop saving for retirement. As a freelancer, your retirement savings are now your full responsibility. The good news is that you have several options to choose from.  We’ll walk you through four different retirement options in this article. Afterward, we’ll show you how to calculate what you need to save based on your retirement goals.  1. Roth or Traditional IRA What is it? IRA stands for Individual Retirement Account. IRAs…
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The Best Credit Cards for Freelancers in 2020 – Business and Personal Card Selections

The Best Credit Cards for Freelancers in 2020 – Business and Personal Card Selections

All blog posts, Money & Taxes
It’s easy to think of freelancing as a gig or a job. But, if you are freelancing full-time, you are a small business owner. Your business is you. You and the services you offer.  As a small business, there are a handful of benefits to getting a business credit card. Read through to find out our favorite small business credit cards for freelancers. And, as a bonus, check out some of our favorite personal credit cards at the end. Why you should get a small business credit card First and foremost, a small business credit card helps you separate your business expenses from your personal spending. As a business owner, you always want to have an idea of your expenses vs. your income.  By opening a small business card, you…
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