51–60 of 64 posts
A must read for any would-be freelancer. Freelancing doesn't mean just sitting in a Starbucks with your MacBook Pro.
As I read this, I'm sitting in a Starbucks on my MBP. Now it doesn't JUST mean this, but it's not a bad part of it:)
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You can't put yourself on salary unless the business entity is a corporation or an LLC taxed as a corporation. Even if you do payroll for yourself you still have to file a 1099 and a schedule c. For a freelancer a Corp is a bit overkill and you get taxed twice.
That depends on what you're doing. If you're a developer or a sysadmin or something, you need to set up a corporation to provide you some level of liability protection. I'm not a lawyer/tax expert, but my understanding is that this is not something you could do without at least an LLC in place. If I'm wrong about this, someone please correct me.
> All life is work So better make sure you enjoy your work! Otherwise doing more of it is going to make you feel miserable. Just like there are employees that are unhappy in their jobs because of the nature of the job so it happens that in freelancing if you don't like your job you're going to feel bad. Especially if you are doing more of it... > The hunter lives in a hard world Yes, but when you are kicked out, laid…
What are some ways to get 20/day of passive income?
Why a few tax returns can't suffice is beyond me. A few years of working for yourself and making a decent income looks a lot better on paper than having held a job for 3 months to me.
Yup. Everything he says is true. I've been self employed for 10 years and it never gets easier. I'd even say it gets harder every year. And I don't have a family or a mortgage to deal with, I can't even fathom trying to support a family as a freelancer. Oh and try applying for a job after only ever being self-employed. That one is fun
What? What kind of freelance do you do? I've been doing this for just over three years and it's gotten easier every year. I can't imagine going back to a job, though I get offers every week (literally). Just curious why my experience is polar opposite yours :-/
I'm a web developer / project lead. Its hard to explain why things have been negative for me lately, there are a number of compound factors over time. I got too comfortable relying on certain clients. Credit cards are pure evil. Basically any prolonged reliance on debt can snowball. At some point you jack up your rate and its hard to knock it down when you start competing on price.
But the biggest pitfall - its very easy to splurge on business overhead when you are doing well. Nice office, bookkeepers, outsourcing basic tasks, top notch CPA, lawyers, furniture, fancy computers, memberships, travel expenses etc. This stuff puts you into awful debt when the work volume shrinks. Basically when you are feeling happy and comfortable, save money like crazy and don't splurge on anything. It doesn't last.
Easier to bash the whole concept of starting your own business, instead of admitting failure I suppose...
"A vacation day is a day you’re making zero money." For anyone looking into becoming a freelancer/independent contractor/consultant/whatever you want to call it, I cannot emphasize this enough. I've been doing this for a little over a year now, and I cannot even begin to describe the feeling of "Hey, a day off! Wait, that means I'm making a big fat 0 today." Yes, you need to unplug and get away every once and a while, but vacation time starts looking very different when put in that context.
That being said, if you want to be your own boss, live by your own schedule, not be beholden to anyone else, etc start a business where you can make money when you're NOT at your desk.
Earlier quoted context omitted.
What? What kind of freelance do you do? I've been doing this for just over three years and it's gotten easier every year. I can't imagine going back to a job, though I get offers every week (literally). Just curious why my experience is polar opposite yours :-/
Honestly 3 years in, everything was fantastic for me too. I'm a web developer / project lead. Its hard to explain why things have been negative for me lately, there are a number of compound factors over time. I got too comfortable relying on certain clients. Credit cards are pure evil. Basically any prolonged reliance on debt can snowball. At some point you jack up your rate and its hard to knock it down when you sta…
As for going back to a f/t job, freelancing for X years might be problematic for some employers, but certainly not all. I get approached on a fairly regular basis, and while I never say never, I've not had a serious offer that's been even remotely compelling, either from a responsibility or financial angle.
Gentle plug: these sorts of topics will be explored in more detail at http://indieconf.com
Just for once I'd like someone to write something about X without using the conceit that all instances of X will be immensely similar to the author's immediate experience with X. Everybody is different, significantly so even. They have different personalities, different educations, different ways of working, different skillsets, different passions, etc. That's why people have different jobs, different hobbies, differ…
There is no such thing as freelancing. I mean it. There are insecure, short-term jobs and there are businesses. Freelancers are neither fish nor fowl. They don't have the security and legal protection of an employee, nor the efficiency and delegation of a business. If you consider yourself a freelancer, stop. If you have the inclination and the ability to delegate and manage, take on an assistant and start acting lik…