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Posts Tagged ‘Freelancer’

Handling Your Finances as a 1099 Contractor

Handling Your Finances as a 1099 ContractorBy Deborah Sweeney

Working from home is a dream of many, and running your own business is a great way to do just that. Chances are that, unless you’re selling a product, you’re doing a lot of freelance work. And when you freelance, businesses treat you as an independent contractor, or a 1099 contractor, which alludes to the 1099-MISC form businesses send to contractors they paid.

Being a 1099 contractor is a great way to make money while working from home, but you have to understand what your responsibilities are when you do 1099-eligible work. The Department of Labor is cracking down on businesses who misuse independent contractors, so the burden is on you to prove you do qualify as an independent contractor. That means handling your finances in a particular way.

1. Bill as Your Company

There is a slightly complicated test courts apply when judging worker classification, but the short of it is an independent contractor is a business, and the hiring company is a client. It is a business-to-business relationship, rather than an employer-to-employee one. So, to protect yourself and your clients, bill as your company.

This means you’ll need a DBA (doing-business-as) name and, for some banks, an EIN (Employer Identification Number). But after you get those in order, you can open a business bank account and accept checks payable to the company. (more…)

Posted in Money

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Escaping the 9 to 5 Grind

Escaping the 9 to 5 GrindTell us a little bit about yourself and your freelance journey.

I graduated from Penn State last year with degrees in Marketing & PR. Two weeks after graduation, I started my career. It was a pretty traditional job with a marketing company, which was great – but wasn’t making me happy. I wasn’t being challenged and didn’t see myself growing as a professional, and I went looking for something that could fix that.

The whole search for career happiness thing is what inspired me to start Punched Clocks. From there, I started freelancing and have loved every bit of it since!

Outside of being a huge PSU fan, a marketer, and a writer, I’m also:

  1. ENGAGED, and planning a wedding to my wonderful fiancé! (Can you tell I’m still super excited?!)
  2. A proud mama to two beautiful dogs. One boxer, Bella, who actually helped us announce our engagement! And more recently, we adopted a boston terrier named Ruby.
  3. Part of a huge, close-knit family from which I’ve gained infinite wit and wisdom, hand-me-downs, and an extremely loud voice.
  4. A lover of all things health, DIY, wedding, style, and marketing related.
  5. A busy, busy woman with a short attention span and a need to be moving at all times.


Posted in Interviews

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How to Make $4,000 a Month as a Freelance Writer

How to Make $4,000 a Month as a Freelance WriterTell us a little bit about yourself and your freelance journey.

My husband and I were just like any other couple working full-time in Corporate America two years ago. We started our family, realized that’s not how we wanted our life to be and started making changes.

We had already been paying down debt, which helped. We then cut out everything we could in our budget, so my husband could quit his job and start staying home with our kids (currently ages two and three).

After a decade-long career as a financial advisor, I realized it wasn’t what I wanted to do “for the rest of my life” and I started looking into freelance writing last April. I was able to build up my business from $0 to $4k/m in six months, which gave me the opportunity to make a big career change at the end of last year by quitting my own job and becoming a full-time freelancer.

Do you have any special training?

Not as a writer. My degree is in Psychology and of course I had the proper investment/insurance licensing in place in order to operate as an advisor.

I’ve always loved to write and have written a couple of first drafts of chick lit fiction novels in the past. It wasn’t until last year that I realized what a market there was for non-fiction writing on the web. (more…)

Posted in Interviews

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Something More Important Than How Much You Are Paid . . . and Seven Ways to Improve it

Something More Important Than How Much You Are Paid . . . and Seven Ways to Improve itBy Diana Schneidman

What is more important than how much you are paid for your freelance, work-at-home assignments?

Many people would say “nothing.” After all, for a person trying to make a living, what you are paid is darned important.

Some would give a more spiritual answer. Perhaps self-fulfillment is more important. Doing work you love. Making the world a better place to live in.

I can’t argue against those values. Work is about more than money. But for the purpose of this article, I’m going back to the financial side of it.

So here is my answer as to what is more important than how much you are paid. It’s how quickly you are paid.

Sadly, the waiting time for corporate payment to self-employed, work-at-home freelancers is often much longer than it used to be. Payment far too often stretches out for interminable periods . . . or at least what seems far too long if we need the money for food, rent, and other necessities of life. Sometimes payment never shows up. As time extends and the funds never appear, we suspect we will never get paid. (more…)

Posted in Business

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Don’t Quit Your Day Job: You Can Freelance and Still Work Full Time

Don’t Quit Your Day Job: You Can Freelance and Still Work Full TimeBy Sarah Ratliff

I was raised by parents who lived through the Great Depression. My father was born in 1923, before it began, and my mother was born in 1933, as it was well underway. In both instances only their mothers were able to hold on to their jobs. My paternal grandmother was a schoolteacher and my maternal grandmother worked as a domestic (today we’d call this a combination chef and housekeeper) to a wealthy family.

Both had job security.

Having lived through such extreme economic uncertainty, my parents, along with many others from that era, believed the only way to all but guarantee financial security was to get an advanced education, followed by a job in a financially stable company—ideally a Fortune 500 one. (more…)

Posted in Career

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