Staying Ahead of Your Taxes as An Independent Contractor

It’s never too early to get your tax documents organized and ready for filing, especially if paying estimated quarterly taxes is something you want to consider.

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As more Americans seek autonomy from freelancing, often turning side hustles into second or third careers, it’s essential to consider the tax realities when transitioning from a W-2 employee to an independent contractor.

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Adventures in Freelancing

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Freelancing offers autonomy, flexibility, and more growth opportunities than the traditional 9 to 5 work model. As a result, 59 million Americans freelanced last year, representing 36% of the workforce.

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What Do The Experts Have To Say?

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Pay Quarterly Taxes & Stay Organized

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Stay on Top of Income and Expenses

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Staying Ahead of Your Taxes as An Independent Contractor

It’s never too early to get your tax documents organized and ready for filing, especially if paying estimated quarterly taxes is something you want to consider.

As more Americans seek autonomy from freelancing, often turning side hustles into second or third careers, it’s essential to consider the tax realities when transitioning from a W-2 employee to an independent contractor.

Adventures in Freelancing

Freelancers are responsible for paying self-employment tax. The self-employment tax rate is 15.3%, divided between Social Security (12.4%) and Medicare (2.9%).

Freelancing offers autonomy, flexibility, and more growth opportunities than the traditional 9 to 5 work model. As a result, 59 million Americans freelanced last year, representing 36% of the workforce.

What Do The Experts Have To Say?

Pay Quarterly Taxes & Stay Organized

Stay on Top of Income and Expenses

No one wants to file their taxes, but staying organized from the start of the year can make your life a lot less stressful at the end of the year, whether you’re paying altogether or paying quarterly taxes.

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