There are both pros and cons to freelancing. Today, we’ll discuss 18 of the most prominent advantages and disadvantages to freelancing in 2024

When it comes to 1099 forms, rules are always changing. Stay up to date in this guide where we address how the new 1099-K rules affect freelancers

Other people generally cannot see your LinkedIn messages. Unless you’re actively being investigated or monitored, you shouldn’t worry about the privacy of LinkedIn messages.

When just starting out your freelancing career, you might wonder if platforms like Upwork are legit. Generally, large job marketplaces can be competitive, but they are legit.

Taxes for OnlyFans is no different than any other freelancing, or self employed income. You may receive a 1099-NEC, 1099-K, or both!

If you’re wondering if credit card interest is tax deductible, the short answer is no. Most purchases that incur interest will not be tax deductible. However, as freelancers we may make business purchases that incur interest which can be tax deductible.

Filing taxes with a W2 and 1099 shouldn’t daunting. Yes—there is a lot more to think about and plan for, but there are also many ways to mitigate the headache.

As a freelance writer, taxes may be the last thing on your mind. Unfortunately, taxes only gets harder for freelancers—in this guide we’ll help you navigate through all the complicated forms and terminology.

When it comes to business terms, things are often used interchangeably which adds to the confusion. A vendor vs contractor has distinct differences, which we’ll highlight today.

A freelancer vs self employed actually has no difference from a legal and tax standpoint. However, when used in context there are some different connotations.

If you’ve ever seen a payables account, know that taxes payable are no different. It’s a payables account for taxes! Business often pay taxes periodically, so they must use a liabilities account to keep track.

The art of transcribing can be a fun and lucrative career path for many freelancers. If you have solid typing skills, strong listening and language skills, transcribing could be for you.

To calculate a simple rate of return, just take your Ending Value / Initial Value minus one and multiply by 100%. A simple rate of return can help you make a quick business decision objectively.

Wondering what a relevant cost is? Don’t be confused by all the vernacular—a relevant cost is simply an expense that will change after a decision is made. Hence, “relevant”. Those expenses that will not change due to a specific decision, are considered “irrelevant” costs.

Fixed costs vs variable costs may seem confusing at first, but just remember: either the cost is directly associated with the production/selling of a good, or it’s not.

If you’ve heard of EBIT or EBITDA, you may have wondered what the difference was. Fact is, there usually isn’t a difference unless the companies in question are asset intensive.

What is a 9/80 work schedule? Flexible work arrangements can empower and motivate employees while increasing productivity for the employer.

What is income and revenue? Both are important metrics for your business or practice. Income represents the profitability of your business, while revenue is a good indicator of size and growth.

Are receivables assets? Yes—all receivables are considered assets since they are expected to generate value by converting to cash when paid.

What exactly is a ledger balance? Ledger balances represent the actual cash you have in the bank account, versus an available balance which includes potential cash as well.