Conclusion
You made it. Take a moment to grab a coffee (or a beer - it’s 5 o’clock somewhere, right?) to wash all of this information down.
Paying taxes as a freelancer demands knowledge, planning, and care. There’s a lot to understand and a lot of work involved.
One of the best ways to prepare for tax season throughout the year is to build this work into your daily routines. When you use Hectic to track your income, manage deadlines, and keep your business organized, you can tackle tax responsibilities with ease. Join Hectic today to get all of the tools you need to start, manage, and grow your business the right way.
If you have the time to file your own taxes and feel confident in what you’re doing, we hope this guide has made things a bit easier. You can hop onto the IRS website at any time before your tax deadline to file your tax return for free. Or, if you fit certain requirements, you can use tools such as TurboTax for free or a small fee.
If your heart hasn’t stopped pounding since you saw the word “tax” and you still have clammy palms, DIY tax filing may not be the right choice. And, let’s be honest, you didn’t start your own business to stress about taxes. If you don’t have the time or any interest in preparing your tax return, consider hiring a tax professional who will take care of everything for you.
They will make sure you get all of the deductions you qualify for and ensure a complete, accurate tax return. Hiring a tax preparer who works freelance or owns a small business will also help support other entrepreneurs just like you!
No matter the direction you take, it’s important to be organized, to make informed decisions, and to avoid procrastination. Give yourself the time you need to do things right. Along with being way less stressful, a less hectic approach will help you avoid unnecessary costs, fees, and penalties.
Protect your future and that of your business by meeting your legal obligations and paying your taxes. You’ll feel so much better when it’s done and no longer something to worry about.
…at least, until next year, that is.