Self-Employed Taxes: How Freelancers Can Prepare

  Рет қаралды 11,508

Latasha James

Latasha James

Күн бұрын

Пікірлер: 29
@YestoHawaii
@YestoHawaii 2 жыл бұрын
Thank YOU! Taxes are such a labyrinth. This makes it much more digestible and less overwhelming. Such a helpful episode.
@liliam4649
@liliam4649 2 жыл бұрын
TAXES are stressful when you’re a freelancer 🙃. Although if your organized with it, it doesn’t have to be. Paying quarterly taxes has help me a lot, I recommended to anyone who has to file to the IRS. Thank you for this video Latasha!
@DaybeBaby
@DaybeBaby 3 жыл бұрын
I haven't officially started my journey as a freelancer but this video was so insightful for what i need to be prepared for . Thank you!
@tout.content
@tout.content 2 жыл бұрын
So informative with reputable sources yet so straight to the point! Thank you!!
@MarketingHarry
@MarketingHarry 3 жыл бұрын
It's important to be prepared for the tax part of your business. Useful episode, Latasha! 🙂
@OlleyThorpe
@OlleyThorpe 3 жыл бұрын
Excited for this one! Yes girl so close to 100k! Let’s go!
@thelatashajames
@thelatashajames 3 жыл бұрын
Eeek thanks buddy! 🙌🏽
@ClarinetsForever223
@ClarinetsForever223 2 жыл бұрын
So helpful, as always. Thank you, Latasha.
@RobWill5864
@RobWill5864 3 жыл бұрын
It’s not taking advantage if it’s following the tax code. Remember, the tax code is in place to incentivize entrepreneurs and investors because their efforts generates income that in one way or another generates more taxes from normal employment and consumerism. I think much of the stigma associated with the idea of “getting over on taxes” comes from not fully understanding the why of the tax code.
@thelatashajames
@thelatashajames 3 жыл бұрын
Wait where did I say taking advantage? This is a long podcast and I don’t remember every word I say hah, but yes of course I write things off, just not excessively and “just to write things off”. I like to keep my profit high as I’m in the midst of buying a home
@sonyamay5047
@sonyamay5047 Жыл бұрын
I've had business ideas for a decade, but I never started because I was always scared of taxes. I started looking into a new idea again and almost stopped because of taxes. Then I realized I need to get over this and learn about this big scary topic. It really isn't as difficult as I thought it would be!
@thelatashajames
@thelatashajames Жыл бұрын
I felt the same way when I was first starting! Once I learned the basics, the fear really did (mostly) go away! Good luck with your business 😊
@fofita17
@fofita17 3 жыл бұрын
Such a great & timely video! Thanks!
@Imetnaj
@Imetnaj 2 жыл бұрын
Thanks for sharing this Latasha, this episode definitely helped. Just inquiring do you still use Indie?
@leogphoto2099
@leogphoto2099 3 жыл бұрын
Oof, I am at 8-5 job right now and am watching this for when I quit to become full-time freelancer lmaoo
@thelatashajames
@thelatashajames 3 жыл бұрын
You got this! It's really not that bad as long as you are prepared. Problem, is most people don't prepare/save and then get sticker shock
@kindree5414
@kindree5414 6 ай бұрын
Hello, I am filling out a CSU application for college and it is asking me to input my Parents' adjusted gross income (AGI) for 2022 and my Parents' untaxed income and benefits for 2022. I know the AGI can be found on line 11 of the 1040 form on the 2022 Individual Tax Return, but I want to confirm where I can find the amount for the untaxed income and benefits? Is it line 2a where it says “Tax-exempt interest” or is it line 2b where it says “Taxable interest”? Line 2a is blank, but line 2b has an amount. Which one would I put? Thank you!
@valeriapico1181
@valeriapico1181 2 жыл бұрын
Thank you sm! I’m so lost in this, should I get a DBA to be able to write off taxes for my business?
@greghillmusic
@greghillmusic 2 жыл бұрын
So do you not pay taxes on work you charged less than $600 for?
@thelatashajames
@thelatashajames 2 жыл бұрын
It’s $600 earned in total, not by individual job. You could do 1000 $1 jobs and still have to pay taxes on anything earned over $600
@greghillmusic
@greghillmusic 2 жыл бұрын
@Latasha James I think we're both confused about this, because you would pay taxes on that $600 job. I'm pretty sure you still have to pay taxes on jobs less than $600.. it's income... you pay taxes on your taxable income. This is all so confusing.
@thelatashajames
@thelatashajames 2 жыл бұрын
@@greghillmusic Yes! But you wouldn't get a 1099 for anything under $600. That said, I'm not a financial pro as mentioned several times in this video, so definitely recommend speaking with one about your unique situation!
@greghillmusic
@greghillmusic 2 жыл бұрын
@@thelatashajames that is the best advice out there.
@sblijheid
@sblijheid Жыл бұрын
Keep your records for 10 years. The IRS can audit you for that time.
@heymissdemic
@heymissdemic 3 жыл бұрын
this just made my anxiety go up completely :(
@thelatashajames
@thelatashajames 3 жыл бұрын
Noo, I'm sorry! Didn't mean for it to. It's better to know these things upfront though, versus finding out too late :)
@ClarinetsForever223
@ClarinetsForever223 2 жыл бұрын
Helpful, as always! Do you still recommend Indie/Found?
@thelatashajames
@thelatashajames 2 жыл бұрын
for sure!
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