Short answer: You are legally obligated to report all of your income.
Every person or company you worked for may not issue you a tax form.
These are two of the most common tax forms that outline your income for the year. Below is a quick overview of what they are.
If you're a freelancer, you definitely want to keep track of your expenses. Here's why.
Knowing what is considered a legit business expense is very important for everyone who is self-employed. Make sure you understand the basics.
Keeping track of your expenses can be a chore, but this expense tracker will make your life a little bit easier.
You’ve heard people talk about collecting receipts. Or maybe you even have some receipts, but then there are some you don’t have. What are the consequences? Why do freelancers need these little pieces of paper?
Getting food or drinks with clients or while traveling is often a legit business expense, but be mindful of the rules.
Figuring out all your business expenses is a key part of doing your taxes as a freelancer, and internet costs are usually a part of that.
Staying on top of your field is crucial to your success, and in many cases the costs associated with that are legitimate business expenses.
Figuring out if you have a home office is an important question for freelancers, artists, and others who regularly work from home. But it’s not always easy to understand what qualifies. Find out more below.
If you have a home office used exclusively and regularly for your freelance business, it often represents a pretty big business expense which can help a lot when it comes to your taxes.
If you use your vehicle for business, you definitely want to track your mileage and other costs associated with business. It will help bring down your tax bill.
Per diems are your friends! Tracking the cost of meals when you're traveling can be a pain. Thankfully, there's are some tools you can use to make this easier.
If you bought costly equipment for your business, like a new phone, computer, or camera (or all three and more), depreciation is a handy tool that can benefit you not only this year but in future years.
If you drive a car, truck, or SUV for business purposes, chances are you can deduct a percentage of your auto expenses.
The government sometimes gives us ways to push large expenses forward to future years, and this can be really handy for people who sell merch and other goods they have to manufacture. The IRS refers to it as the cost of goods sold. Below we'll help you figure out if this applies to you.
Just because you get a paycheck doesn't mean you don't end up having to pay for expenses for your W2 job, especially if you end up working lots of W2 jobs in the year. What's the deal with all they money, can it be claimed as an expense?
Need help categorizing your expenses? This page is a TL;DR of the expense categories on our expense tracker and on our website.