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Tax Advice for Freelancers

By: Katrina Irwin
Updated: June 4, 2012
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Kevin G. Conlon, CPA/PFS from Conlon & Company CPA's, PLLC joined Katrina Irwin on News 8 at Sunrise Monday.  He had some advice for people who are doing freelance work or starting up their own businesses. 

Tax tips for freelancers
1.  Get a good cpa
2.  If you earn $600 + from 1 client, you must report it
3.  If you net $400 + for the year, you have to play a self employment tax in addition to income tax
4.  You must pay taxes quarterly after 1st year
5.  Make sure to track business expenses for deductions
6.  Solid record keeping.

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