For those who love the written word, a career as a freelance writer may seem like a dream come true. Not only can you write from anywhere you can access a computer, but you also get to create content for others to read.
However, you might not know where to get started and how to earn a living. These tips should help.
How Much Do You Need?
First, you have to figure out how much you actually need to earn to make a living as a freelance writer. If you’ve been working outside the home, you’re already aware that you have some expenses you won’t have working from home. For example, you won’t need a costly separate wardrobe, you won’t be eating lunch out, and you’ll save money on childcare and transportation costs.
Once you’ve figured out how much your family needs for you to earn, add a percentage to cover taxes and figure in any costs you’ll have, running your business from home. Most experts recommend putting aside about 30 percent of what you make to cover the federal and state taxes you’ll have as a self-employed person. However, you’ll also get some tax breaks for purchases related to your writing.
Find Gigs With Recurring Revenue.
To create a steady stream of income, you’ll want to look for writing gigs that offer you the same assignments month after month. These clients will become the bread and butter of your business. (more…)
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