Hi guys, I was wondering if there is anyone who does freelance websites here? Be it full-time or on the side?
I do it on the side, but I choose which projects I want to take. Usually it’s for nominal fee’s, nothing more than $2-3k
Now I’ve secured a freelance deal, one which is at $8k and one which is $20k – How do I do this in terms of payments? Do I have to register myself somewhere as a freelancer with regards to things like “tax”? For amounts a bit higher like this I guess I also have to invoice the companies?
Can someone advise me on these matters?
I am also curios to know information about this.
Not sure where you live, but in the United States, you don’t have to register anywhere, just report the income on your tax return. If it is over a certain amount, and it is a steady amount, you should estimate for the year and divide it into quarterly payments. You will also need to pay a self-employment tax of about 15%.