Recently I was at the authors’ meeting where I attended a workshop about establishing your writing business. Most of the participants were working at jobs and building their writing careers. A lot of individuals are juggling employment and business (or a “side-hustle” they hope to develop into a full-time thing).
In that case, there’s a complete” new world” of information to absorb about financials and taxes. Are a few tips that could be helpful Here. If you’re getting started you might think you’ll receive to it once you’re making money. Trust me, you should have less stress later if you begin right now. There are several tools to help you get things done without a staff, and you will find that QuickBooks is a fantastic solution. It offers features for invoicing, managing cash flow, reviews (always a good thing) and better still you can create 1099s for freelancers and companies you hire on the way. It can be utilized by you on your desktop and mobile devices.
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- 14: Promote your page. A lot
If you’re a worker, you might not be aware that you have deductions for your business, such as mileage, materials, training, and conferences. WHILE I was working as a W2 contractor and starting my writing business, it was a challenge to keep track of my travel to workshops and meetings.
QuickBooks to the rescue again. Their software for the self-employed has additional features (like mileage tracking). If you are used to being stressed out when that date rolls around, it is time to relax. Yes, having a business does add a bit of complexity, but Turbo Tax has you protected. Years ago after I started two businesses (freelance writing and direct sales) while I was still in my own corporate and business job, I filed a Schedule C (an application included with most variations) in addition to my 1040 forms. Actually, it was really a lot easier than I expected because I could walk through my taxes preparation step by step.
Even if your projects aren’t predicated on hours, it’s still a good idea to keep an eye on how much time you’re shelling out for activities. A tool like Toggl can help. It’s difficult enough when you have limited time to focus on your business because you’ve also got a job (and other commitments).
Stay alert to how you’re spending your time and effort and you’ll be much more likely to get things done. Whether you’re a blogger, operating an Etsy shop, self-publishing your books, cooking cupcakes, getting started as a va — you’re also a business owner. Take it seriously. For more details about taxes, forms, and things such as EINs (an Employer ID Number that you may need before you open a business bank account) go to the IRS Small Business and Self-Employed Tax Center.
They have plenty of comprehensive information including online learning modules. Technology makes it so much simpler to balance your employee life with the entrepreneurial one. Take benefit of the tools and training so you can grow your business and keep things running smoothly. Deborah A. Bailey is a writer, coach, and writer of several novels and non-fiction books, including Think Like an Entrepreneur: Transforming YOUR JOB and Taking Charge of Your Life. She’s the host of the ladies Business owners Radio podcast and she provides content marketing tips and strategies at Deb Bailey Media.
“Using technology to re-imagine services, customer experience, and business strategy is what makes a business stick out and continue steadily to thrive. “A passion for technology skills at an early age is a great starting place, but, as many companies such as JP Morgan recognize, we must ensure that we foster the right environment therefore the labor force can flourish throughout their professions. What does this mean?