CPA for Freelancers

Taxes, Accounting, & Business Advice for the Self-Employed

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Employee or Independent Contractor? How the Decision May Significantly Impact Your Freelance Finances

A recent ruling by the California Supreme Court made it more difficult for employers to classify their workers as independent contractors in response to criticism by some that companies are not properly classifying independent contractors as employees. This law seeks to tighten the rules regarding worker classification and reignites the debate about when a freelancer […]

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Vendors Selling in NYS Must Meet New Registration Requirement

On June 21, 2018, the United States Supreme Court ruling in South Dakota v. Wayfair (138 S.Ct. 2080 [2018]) eliminated the prohibition on a state imposing sales tax collection responsibilities on businesses that have no physical presence in that state. Due to this ruling, certain existing provisions in the New York State Tax Law that […]

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Do You Have Rental Income? Get to Know the New Rules Under Tax Reform

Many freelancers own residential or commercial rental real estate properties, the income from which helps to supplement their client work. If you are one of them, this article is a must-read because the rules related to rental property income are changing under tax reform (also known as the Tax Cuts and Jobs Act or TCJA). […]

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Sales Tax Tips for Freelancers with an Amazon Business

Amazon is the world’s biggest online retailer, so it’s not surprising that there are millions of people who are making a living as self-employed merchants on the platform. In addition, many freelancers sell their intellectual or creative property through Amazon including books, music, crafts and the like. If you are already an Amazon seller—or you […]

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Here’s How the New Pass-Through Deduction Could Cut Your Freelance Tax Bill by 20 Percent

Tax Day may have come and gone, but it’s likely that some of the key numbers from your 2017 return are still in your mind—especially if you had to pay more tax than you were expecting to.  While you are still in a “taxation” state of mind, it’s a good idea to consider how you […]

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How Tax Reform is Taking a Bite Out of Meal and Entertainment Expense Deductions

Now that we’ve officially rung in a new tax year, it’s time to address the key provisions of the Tax Cuts and Jobs Act (TCJA) that are likely to impact you as a freelancer on a day-to day basis. One area that is worthy of immediate consideration is that of meal expense tax deductions. As […]

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Is an S-Corp Entity Right for Your Freelance Business?

The end of the year is the perfect time to make a change to your business structure because doing so can afford you additional tax advantages in the coming year. While there are several business entity structures you can use for a freelance business, the S-corporation (S-corp) is worth considering. S-Corps 101 S-corps, which are […]

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How to Make More Money By Changing The Way You Charge

We're delighted to share with you the following post by  guest blogger and award-winning freelance copywriter Mike Gluck, author of 40 Freelancing Secrets: Get Work. Get Paid. Have Fun. When you're a freelancer, you decide how much to charge your clients. It's one of the best parts of the job — but it can also […]

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Tips to Help You Craft the Perfect Freelance Pricing Strategy

As a freelancer, it can be hard to develop an effective pricing strategy. When you’re just getting started, it’s tempting to set a low rate because you’re not sure what to charge and you don’t want to miss the opportunity to be hired. On the other hand, you may start with a high hourly rate, […]

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Use a “Marathon” Mindset to Lower Your Freelance Taxes

If you filed your taxes on time this year, you may be breathing a sigh of relief about not having to think about them again until next April. Before you wipe any traces of tax-induced sweat off your brow completely though, consider this: Sprinting to the IRS Tax Day finish line on an annual basis […]

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