Finally, you’ve notice that freelancing is a good career to start earning some cash online. However they are several aspects that should be taken into consideration. These aspects will make the difference between being a good freelancer and a great freelance. Your freelance status will definitely start to showing almost from the first bid you make on a job posting site. Today, we will be going through the steps of becoming a freelancer and some important tips to keep in mind as you start in this new job field.
First, you need to find a good freelance job posting site and register to get started. We already have a collection of some reputable freelance job posting sites you might be interested in using. Below is a list of articles that have the top rated freelance job posting sites:
- 15 Popular Freelance Job Bidding Sites
- Freelance Job Sites For Designers & Programmers
- Top Sites For Freelance Writers
Registration is free on all three these sites and there is no monthly subscription. To register for one of these site, just go to the signup page and fill in your personal signup details and submit. The site will send a confirmation email to your mailbox. Follow the link in the mail and the process will be completed.
How Do Freelancers Handle Taxes?
Like any business or career, freelancers need to meet their federal, state and local tax obligations. This means filing any estimated tax returns, just as you would if you started your own business, except that your taxes are filed under your own name and social security number instead of your business name and tax ID number. Any customer who pay your more than $600 in a year are required to provide you with IRS from 1099 reporting your earnings.
Estimated taxes are filed with the IRS (and in most states, with your state) on a quarterly basis. The IRS provides forms to help you estimate your taxes so you send in the right amount. Not paying your estimated quarterly taxes can result in interest and penalties from both the IRS and your state.
What are the Major Advantages of Being a Freelancer?
If you freelance, you can usually set your own hours. You may be extremely busy one month and at a standstill the next month in your freelance practice. Use the slow times to rest up and to find new ways to find freelance gigs in your field. Also use the time to improve your website or investigate other ways you can market your freelance services.
Freelancing is what the “American Dream” is all about for many people. Low costs and little time and hassle to get started with a great deal of independence. In the vast majority of cases you will be able to work from the comfort of your own home. You won’t have to convince your employer it’s a good idea to let you telecommute.
Freelancing is also a great way to help keep your head above water if you suddenly find yourself unemployed. It can help assist you until you find another work, all the while giving you valuable experience in client service and giving you exposure to a variety of projects. Who knows, after you’ve been a freelancer for a while, you may decide you like being independent and stop looking for employment!
What are the Downfalls of Being a Freelancer?
Some people believe that being a freelancer means they won’t get paid much and some employers who hire freelancers think they shouldn’t have to pay much. That’s because the competition is very tough and it’s global – people from all around the world may offer the same services for less than half of what you can offer them. That’s to be expected. Over time, your experience and your references will help you command freelance rates you can be proud of.
Keep in mind too, as a freelancer you are not obligated to accept a job. If you don’t like what’s being offered to you, keep looking for something that pays a bit more. Unfortunately, a fair number of employers who use freelancers end up taking advantage of them – by paying a substandard rate, not paying on time, etc. As you become an experienced freelancer you will learn to recognize which employers are worth your trouble and which are not.