Tax prep for GIG WORKERS
Common — and costly — mistakes that freelancers make
Remember that you are a business
Cole: Basically, from an IRS perspective, the minute you start earning a dollar as a freelancer, you’re a business and you, in fact, must behave like a business in order to get the benefits of being a business, tax-wise. You have to have bookkeeping, and you (also) have to track your expenses and your income. … I think a lot of us start earning money, but we are kind of coming from a perspective of making a career in the arts, so we’ll tend to not think of ourselves as a business right off the bat.
Separate business and personal money