Being self-employed is not for the faint of heart, or for those who are faint about their finances. Sadly, studies have shown time and again that a key contributor to freelance business failure is a lack of financial organization. Fortunately, if you’re proactive, you can get on top of your finances and be successful over the long-term. To help you get started, here’s a 90-day plan to get your freelance business on track before the end of the year. If you stick to the plan each month, you’ll be able to move forward with confidence in the new year and in the coming tax season:
October: First 31 Days
November: Days 32 to 62
December: Days 63 to 90
That’s it—by being proactive now, and following the plan we’ve laid out here, you can get on top of your freelance finances in just 90 days and head off any serious financial issues, once and for all.
Jonathan Medows is a certified public accountant licensed in New York, New Jersey, Maryland, and Pennsylvania. He is also a recognized expert in taxation for freelancers and the self-employed—often tapped for his expert knowledge and perspective on self-employment taxation by national and regional publications such as The New York Post, BusinessWeek, Forbes taxation blog, WebCPA, CPA Practice Advisor, and others. You can read some of Jonathan’s press coverage here.
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