As a home business owner, you should consider life insurance and how it can help your family replace your income. Working from home can make it easy to see your business as separate from the rest of your financial life. You have business accounts, clients, a computer, and maybe a dedicated office. On the personal […]
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Do you have a plan for what happens to your freelance business when you die? As a freelancer, your business is … you. You might have an LLC and a business bank account. You probably have contracts, clients, invoices, subscriptions, and tax records. Maybe you even have a website that generates income, but ultimately, you are
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Building an “in case I die” file is an important part of preparing your family or your business for what happens when you pass on. Years ago, I started thinking about this uncomfortable question: What would happen to my business if I died? Freelancing is different from having a traditional job. No HR department can
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Business tax deductions can go a long way toward helping you reduce your liability. I have no problem paying taxes, but that doesn’t mean I’m going to pay more than I have to—especially when so much of what I send to Uncle Sam ends up paying for priorities I disagree with. As the year draws
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Claim a home office tax deduction for the space used for your business. If you own a home business, one of the tax deductions you are eligible for is the home office tax deduction. The IRS terms this business use of your home. You can deduct the costs associated with your business in your home
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As a freelance writer, it makes sense to diversify income sources. You never know when something will fall through or you’ll need extra cash. Here are some of the things I’m doing. When you have a variable income, developing different revenue streams can make sense. This doesn’t mean that you have to monetize everything you do. However,
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