In this video I explain how you should think about and perform your tax obligations as a digital marketing freelancer. This pertains to tax suggestions for marketing contractors but could apply to various freelance industries.
THIS IS NOT TAX ADVICE AND I AM NOT A CERTIFIED ACCOUNTANT OR TAX EXPERT lol
Some general points about taxes for freelance marketers
- Freelancers should allocate 25-30% of income for taxes.
- Tax obligations include federal income tax & self-employment tax (15.3%).
- State income tax may also apply depending on location.
- Deductions for expenses like home office and software subscriptions can reduce taxable income.
- Quarterly estimated tax payments are necessary to avoid penalties.
- Understanding tax obligations is crucial for compliance.
- Consulting with a tax professional can optimize tax strategies.
- Proper planning can minimize tax liability for digital marketing freelancers.
Please consult with a true tax or accounting professional for the best advice and planning. I have some people I can recommend such as our friends over at HARO CPA. harocpa.com/
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If you need any marketing help or want a job freelancing in digital marketing for Momentum Digital then please apply using hi@needmomentum.com or apply on our website www.needmoment...
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5 сен 2024
