I wanted to take a vulnerable moment to say out loud, "thank you and please continue to hold me accountable". As a freelance artist and full-time entrepreneur it's easy to discount your work, time, and worth. But as I have encouraged my clients and community I in turn was pushed to practice what I preach. I had to choose to celebrate!
After reading the first blog TAX TRICK #1 hopefully you feel great about all the monies you received this year but it’s time to flip the coin and start to remember all the monies you spent this year.
Did you know?
If you are a freelancer, the minimum amount of money you need to earn and to file a tax return is $400!
"Why is the number $400? While you may not owe any income taxes, as a freelancer, you must pay self-employment taxes in addition to regular income taxes. Self-employment taxes start if you earn $400 or more. Therefore you must file a tax return if you GROSS $400 OR MORE.”
NO is just as important as YES. I know it's hard to hear when you have bills to pay and a reputation to keep but saying yes to every project or new venture could actually be the death of your momentum.
BUT while the time does seem to slip away, it's easy to become sedentary. It's easy to get into a routine with your 3 clients, put your head down, and not see the light of day. I find it harder for artists to make boundaries since they have finally been released to work on the art and projects they have been most passionate about.