Here are some tips for properly filing your taxes as a freelance worker:
- Keep track of your income: As a freelance worker, it’s important to keep track of all of your income throughout the year. This includes any payments you receive from clients or customers, as well as any other income you earn from self-employment activities.
- Set aside money for taxes: As a freelancer, you are responsible for paying your own taxes, including both federal and state income taxes and self-employment taxes. To avoid any tax surprises, it’s a good idea to set aside a portion of your income throughout the year to cover these taxes.
- Gather your tax documents: As a freelancer, you may receive a variety of tax documents. Make sure to gather all of these documents before you start preparing your tax return.
- Determine your filing status: Choose the correct filing status for your situation.
- Claim your deductions: As a freelancer, you may be eligible to claim various deductions that can reduce your tax bill. These may include deductions for business expenses, such as office supplies and equipment, as well as deductions for home office expenses if you use a portion of your home for business purposes.
- File your tax return: Once you have gathered all of your tax documents and completed your tax return, you can file your tax return electronically using the IRIS e-File system. If you need more time to file your tax return, you can request an extension.
If you have any questions or concerns regarding your tax returns, please do not hesitate to contact us. We are here to help and are happy to provide answers to any questions you may have.