A few weeks ago, I took my receipts, pay stubs, and pages and pages of handwritten notes to an accountant to see about filing taxes as a freelance illustrator. It was my first time doing this and I was nervous the accountant would take one look at my stack of tattered papers and tell me to go play with my paint-by-numbers kit, or something. (I was wondering myself if this wasn’t just a glorified hobby). He didn’t laugh. He sat me down, walked me through my first Schedule C, gave insights into a few deductions I had not thought of, and complimented me on my record keeping. I had spent more than I had earned, but the IRS expects that in the first few years of freelancing/independent employment. I have the next few years to see if I can close that gap and start making a profit. *gulp*
Which will, of course, bring its own set of challenges.... ~read more
Much appreciation to Robert Jackson Bennett, James L. Sutter, Steven J. Scearce, Lisa A. Grabbenstetter, Evan Jensen, and Jacob Ruby who are making a living as writers, artists and freelancers, for sharing their expertise with me for this post.