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As a freelancer, it’s no secret that you don’t have access to the same resources that big corporations have. This means professional development can take a backseat. It’s especially true when you’re trying to keep clients happy and make sure that you have a consistent flow of work coming through the door. But continuing your education is incredibly important, especially for freelancers. Although it can be hard to find the time, there are considerable benefits that come with investing in your professional training and development. Let’s take a look at four ways that investing in your professional education can help you succeed as a freelancer. 1. Legitimize your service and build trustInvesting in your professional development is a great way to legitimize your service as a freelancer. By expanding your knowledge and experience in your field, you show potential customers two things.
If you obtain an official accreditation, you can promote it across your website and social media channels, too. Not only does this show that you’ve invested in your professional development, but also that your service is reliable and trustworthy. And with 81% of consumers stating that they need to trust a brand in order to buy from them, building trust is pretty important. 2. Keep up to speed with industry trendsThe nature of freelance work often means working alone. As a result, it can be hard to keep track of the latest trends in your industry. But that’s where continuing education can help. Making sure that you continue to educate yourself about changes in the industry means that you won’t lose touch with the latest developments. It also gives you a chance to freshen up your skills and even learn how to use new and relevant tools. Let’s use an example to put this into context. Say you’re a freelance content writer. You probably use tools such as SEMRush and Moz to inform your writing and analyze certain keywords. Little did you know that there are some new alternatives out there, and you need to make sure you know what they are. To give yourself a well-rounded understanding of all the tools on the market, spend some time educating yourself on what’s out there. As a result, you identify some new tools with additional features, all of which allow you to provide a better service to your clients. 3. Get ahead of the competitionWhen you’re working in a saturated market, how do you cut through the noise and reach your potential? Obtaining training qualifications is a good place to start. This will help you stand out against your competitors and show potential customers that you’re trustworthy and experienced. Picture this: Imagine you’re trying to find a freelance accountant. You narrow your search down to two accountants who fit the bill (pun intended). Both have similar experience and pricing, and they both have the AAT (Association of Accounting Technicians) qualification. The only difference is that one of them has also completed their ACA (Associated Chartered Accountant) qualification. This qualification provides accountants with more hands-on experience, rather than simply studying the accounting principles. So, which accountant would you pick? We’d wager a bet and say that you’d choose accountant number two. And why wouldn’t you? The additional qualification gives them the advantage. That’s exactly how training and development help you stand out from competitors. 4. Increase your earning potentialResearch shows that upskilling is one of the most important results for professional learning and development. Why do you think that is? Instead of spreading yourself thin and educating yourself in various areas, you are able to focus on the few key skills that are vital to your business. This means you can offer a better service for your clients. As a result, you can also increase your earning potential. Think about it like this: Clients pay you for the knowledge and skills you have, not just the amount of time it takes you to do the work. So, the more experienced you are, the more your time is worth. Simple. Sources for educationNow that we’ve taken a look at some of the ways education can help you succeed, it’s time to answer: Where can you go to educate yourself? The good news is there are a lot of options out there. If you’re worried about the cost, don’t be. There’s a lot of high-quality, free educational content that you can get your hands on. Side note: When checking different resources to learn more, you can sometimes try a product or a service for free before buying. Make sure you know the difference between freemium and free trial before you make any commitments. Now let’s take a look at some sources you can use to expand your education without breaking the bank. 1. PodcastsPodcasts are a great way to keep yourself up-to-date with the latest developments in your industry. With over 100,000 active podcasts on almost any topic you can think of, podcasts are a great way to expand your horizons, whether that’s improving your technical skills or any other professional development goals. 2. Company websitesThis might seem like an obvious point, but company websites have a lot of useful and informative content. From FAQ sections to blog posts and even downloadable ebooks, there’s plenty of content out there for you to sift through. This type of content is a great starting point for freelancers who are looking to learn about new topics of interest, or expand their existing knowledge on a topic. 3. University-level contentResources like StuDocu enable freelancers to access university-level content. It includes a variety of lectures and essays on a wide variety of topics. All of the content is free to review, and you can usually search the interface to find topics that are related to you and your business. Sure, it’s aimed at university students, but that doesn’t mean you can’t use this content to improve the services you offer as a freelancer. What next?2020 saw a decrease in spending on professional training and development taking place, likely due to the pandemic. This makes 2021 the perfect time to invest in your training. While others are taking a back seat, why not spend some time investing in yourself? Do some training, focus on your professional development, and see for yourself how continuing education can help you succeed as a freelancer. via Freelancers Union Blog https://blog.freelancersunion.org/2021/05/27/4-ways-continuing-education-helps-freelancers-succeed/
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This article is posted with permission from our partner Lili. Get the digital bank account designed for freelancers with Lili and manage your business expenses, estimate your taxes, and save for a rainy day all with zero account fees. Start a Lili account today. COVID has changed how we spend and use credit. According to a 2020 report, credit card debt and use dropped sharply early on the pandemic as people spent less and used their stimulus checks to cover bills. Younger spenders, especially Gen-Zers, have also begun shifting away from traditional credit cards. Now’s a great time to consider how credit plays into your freelance goals. It may seem personal, but taking a hard look at your credit score is actually good for business. Credit scores tell potential lenders, credit card companies, and banks whether you’re reliable and able to make payments on time, or will struggle to stay out of debt. If you’re a sole proprietor with combined business and personal finances and want to apply for financing or grow your business, your credit will make a difference in determining your eligibility. People with higher credit scores usually pay lower interest rates on loans, cards, and mortgages. How is your credit score calculated?Personal credit scores are usually based on factors in 5 different categories:
Now remember, this is a breakdown of a personal credit score and how it’s reported. Many freelancers rely on personal credit to run their businesses, but if you have an LLC, C-corp, or S-corp, you may have a separate credit score with its own unique rules and reporting system. Improving your credit score with just a debit cardOne of the first pieces of advice you’ll get about building credit is to apply for a credit card. But for some freelancers, the high interest rates, fees, and concerns about out-of-control spending outweigh any potential perks like points, rewards or increasing your credit score. Luckily, there are plenty of ways to boost your score, no card required. Here are a few to get you started:
COVID-19 financial support options for freelancers include the Economic Injury Disaster Loan (EIDL) and the Paycheck Protection Program (PPP) Loan. EIDL applications will be accepted until December 31, 2021, but PPP loans are currently closed due to lack of funding.
They can stay on your report for up to 2 years and impact your score negatively (if a lender sees you are often asking for lines of credit, it is not a good sign). So it’s important to think carefully before applying for anything that requires a credit check. If you do, check to see how different credit bureaus handle inquiries over time and watch your report for unauthorized checks. Credit can take a while to build, and learning how to boost your score is a bit of a trial-and-error process. Start by signing up for a free credit report service, like one of the ones on this list. This will help you track your credit, monitor your score, and start making a plan for your next financial step. via Freelancers Union Blog https://blog.freelancersunion.org/2021/05/26/how-to-boost-your-credit-score-without-a-credit-card/
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The term “inviting” someone to your content may sound a little bit odd, but that is exactly what you’re doing when you bring in traffic. Whether it comes from social media, paid media, SEO, word-of-mouth, reviews, etc., you are consistently inviting people to read your webpages. While it’s true that not all webpages focus on long-form content, images, video, or short bursts of text all count as types of content that you’re inviting people to read. It’s up to you as a business owner to capitalize on this traffic by nurturing this “invitation” as opposed to simply throwing it out there and hoping something sticks. If you’ve been working to become a more inviting business, a great way to make this happen with your content is to think about the psychology of meeting someone. The three content creation tactics below can help get you there. Welcome Them to the ArticleFirst and foremost, you can welcome visitors to an article by introducing what it is that the article will accomplish. This way, the reader knows what they can expect and can decide for themselves whether they are interested in continuing without creating any false expectations or disappointment. There are several ways that you can do this: ● Put a focus on meta descriptions. ● Tell readers what the article should accomplish right there in the introduction, potentially even the very first sentence. Bolding this sentence can help, too. ● Use short, plainspoken words. Anything too fancy or full of jargon will set the wrong tone for your introduction. Additionally, the title has to directly match the value proposition. Users usually click through to read an article because a certain title led them to believe it would satisfy their need. Unfortunately, many articles don’t actually follow through with this promise. This is because SEO tactics sometimes lead companies to forget the importance of this point and instead end up creating some keyword-rich or even tricky headline. Clickbait headlines are famous for failing to do this (and the worst part is they do it on purpose). Take the following clickbait example from E! Online titled Ellen DeGeneres and Portia de Rossi Have a Kid. As you can see, the headline does a fairly good job of telling you what it will accomplish (telling you about Ellen DeGeneres’ new baby), but when you click the article, the content is actually about the dog she adopted and named “Kid.” Because the title and the content don’t match up, the reader is unable to accomplish what they thought they would (which was to learn about a baby, not a dog adoption). They put “Kid” in quotes when you click the article, but those don’t show up on Google, so they get the misled clicks. Clickbait articles can work sometimes and for certain goals, but in most cases, it only frustrates the reader. As long as you make sure that your article is titled correctly and the content makes sense with that title, you’re on your way to making sure the reader feels welcomed. This is also hugely important in helping bring readers back to your site in the future. Finally, it’s important to consider proper hosting techniques. After all, we are the hosts of our content, and we want to make the best impression on our visitors. Choosing the right web host for your website is a crucial part of this. There are many different options out there, so I recommend checking out this list to see the different features each offers side by side. While choosing a host, it’s important to focus on their support options. If ever your website gets overloaded, hacked, a designer makes a mistake, etc., you need to have a host that’s ready to go and get you back up and running immediately. A good hosting choice will also have good backup options. Again, you never know what may go wrong with your site, so not only will support be key in helping you, but having a backup system will be crucial. Of course, there are many other features to consider when it comes to choosing a web host — uptime guarantees, accessibility, scalability, etc. — but which are most important to you will depend on your company. Check out this article to learn about what it takes to choose the right web host for your website. Support the Main ThemeYou have to make sure that you’re not just introducing a piece well, but that the piece is actually worthwhile. If we’re using the analogy of meeting someone, this would be the conversation aspect of that meeting. You can do this with your content by focusing on valuable knowledge and media-rich content that not only satisfies their need, but also allows them to get all information necessary without going to another source. Users often click to read an article hoping to get everything they need to either a) move forward and take action, or b) become more knowledgeable about a particular subject. In other words, content creators should try as hard as they can to provide an all-in-one location for online audiences. If you’re the content creator, you can do this by supporting your content with useful data, research, citations, advocacy, media (images and video), tools, tactics and links to internal / external content. Of course, you have to make sure you do not overload the content too much, which can be done with solid structuring and clear writing. Conclude the ArticleAlways include a proper goodbye and make sure the reader has the takeaways intended by recapping key points from within the body of the content. Those key points can be headers, which also helps increase readability and uniformity of the article. Finally, at the very end, you can ask a question that incentivizes and empowers the reader to make a connection with the author and brand through sharing their own personal experiences. Internalizing all of what you have just communicated in the form of a comment will help the reader create more of an affinity with it. And so to follow, my own lessons, below are the key takeaways from this article and a question to get you thinking: The Key Takeaways1. Welcome the Reader to the Article ● Always introduce what it is that the article will accomplish. This is oftentimes done right away in an introduction and/or through a meta description. ● Your title has to directly match the value proposition. In other words, avoid clickbait headlines and make sure that readers get what they expected when they click. ● Follow proper hosting techniques by looking at your different options and focusing on support and backup features. 2. Support the Main Theme ● Content creators should try as hard as they can to provide an all-in-one location for online audiences. This means they should not feel the need to navigate away from the page to learn something new or find more information. ● The content has to be high-quality. 3. Conclude the Article ● Recap the key points in the article at the end of the piece. You can do this by having a recap section, like we’ve done here, or utilizing headers to help the key points stand out, which is also what we’ve done here. ● Ask a question that incentivizes and empowers the reader to make a connection with the author and brand. via Freelancers Union Blog https://blog.freelancersunion.org/2021/05/25/how-to-invite-readers-to-your-content/
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Have you ever had a project or client relationship careen off the tracks through no discernible fault of your own, leaving you feeling hurt, confused, and doubting yourself? I know I have. What I’ve learned from it all is relationships or projects only go sideways when an expectation goes unmet. That’s it! And guess what? Boundaries are a great way to communicate and establish expectations, ensuring everyone knows where they stand, what’s expected of them, and how to behave. If you’ve ever looked at someone who has great boundaries – you know, the folks who don’t people-please, respect their own time and needs, and for whom “no” is a complete sentence – and thought you could never be like that, prepare to do a complete 180. But first, let’s do a quick check-in. If you’ve ever found yourself:
You probably have a leaky boundary or two. Which is fine because (a) we’ve all been there (b) it’s not your fault and (c) this is completely fixable. If boundary-setting seems like a skill possessed only by the chosen few, I’ve got good news. We can all develop this superpower. Life-changing benefits include:
Ready to bring some of this awesomeness into your life? Read on for 3 ways to set firm, loving boundaries. 1) Work from the inside outBoundaries, like values, are unique to you and exist to support you being the fullest, most aligned version of yourself. You can’t create boundaries if you don’t know what personal needs you want to be met. A few questions that might support your inquiry into what YOU need include:
2) Embrace the paradoxThe reason so many of us shy away from boundary setting is we fear it’ll make us less likable and that we’ll be perceived as difficult, inflexible, less desirable to work with. Sadly, that fear is even greater for women, who, for the most part, were told from a very young age that to succeed in anything, we need to be pleasant, nice, and accommodating. The stronger your boundaries, the freer you are to show up fully as your generous, wonderful self because you’ll be working with the folks who respect your value, energy, and time. Let me repeat: Boundaries allow you to be fully yourself. If it’s hard for you to let go of the false conditioning around boundaries and likeability (though to be sure, the goal here is not to be liked by everyone!), I encourage you to look to people who inspire you with their authenticity and clarity. I mentioned Brené Brown as a role model for me. A couple of others include authors, speakers, and social justice advocates Austin Channing Brown and Sonya Renee Taylor. I’m happy to say, my list is growing all the time! 3) Set the stage early (and reinforce often)Being clear about your boundaries from the get-go is the best way to develop respectful, healthy, long-lasting relationships. It’s like going on a first date and being fully yourself vs. trying to be the person you think your date might like more (been there, worn that T-shirt, it never works!) Here are some concrete ways you can achieve this goal:
Setting and maintaining boundaries is an act of love and respect for yourself and others. In my experience, engaging with them as fluid, rather than fixed parameters, makes the process feel liberating, rather than restrictive. Do feel free to build as you go and play around until you find what works for you. Happy boundary-building! via Freelancers Union Blog https://blog.freelancersunion.org/2021/05/24/build-up-your-boundaries-for-better-working-relationships/
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This article was first published by the IRS and has been reproduced with permission. Subscribe to IRS tax tips here. The Internal Revenue Service and the U.S. Department of the Treasury announced that the first monthly payment of the expanded and newly advanceable Child Tax Credit (CTC) from the American Rescue Plan will be made on July 15. Roughly 39 million households — covering 88% of children in the United States — are slated to begin receiving monthly payments without any further action required. The increased CTC payments will be made on the 15th of each month from July to December of 2021, unless the 15th falls on a weekend or holiday. Eligible families will receive a payment of up to $300 per month for each child under age 6, and up to $250 per month for each child age 6 and above. The American Rescue Plan increased the maximum Child Tax Credit in 2021 from $2,000 to $3,600 for children under the age of 6 and to $3,000 per child for children between ages 6 and 17. The American Rescue Plan is projected to lift more than 5 million children out of poverty this year, cutting child poverty by more than half. To be eligible for the full amount of the increased CTC, households must have an adjusted gross income of $75,000 or below for an individual, or $150,000 or below for married filing jointly. The credit is reduced by $50 for every $1,000 in income over that threshold. Households covering more than 65 million children will receive the monthly CTC payments through direct deposit, paper check, or debit cards. If you paid your taxes via direct deposit or have previously received a refund or stimulus payment via direct deposit, the IRS will use that information to deliver this new credit. Most taxpayers will not be required to take any action to receive their payments. Additional information about how you can access the Child Tax Credit will be available soon at IRS.gov/childtaxcredit2021. via Freelancers Union Blog https://blog.freelancersunion.org/2021/05/21/the-irs-will-start-mailing-child-tax-credit-payments-in-july/
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The freelance lifestyle is filled with short-term financial challenges. Finding gigs, sending invoices, paying yourself, and setting aside taxes all loom large in the mind of the average independent worker. With so many details cluttering up the present, it’s easy to let one big financial activity slip to the back burner: saving for retirement. According to a survey by Stash Financial, Inc., a whopping 46% of gig workers don’t save for retirement. And yet, it’s setting aside that small amount of money now that can add up to a big payday later in life. To add fuel to the fire, nearly a third of those surveyed also added that they raid their savings far too often and didn’t have an emergency fund. If you’re a freelancer that’s finding success and thinking about sticking with gigs for the long term, here are a few suggestions for ways to get your retirement savings rolling again. Build a Solid BudgetEverything starts with a budget. Is it cliché? Sure. Is it talked about everywhere? Yes. Is it still essential to financial success? Absolutely. A budget is ground zero, not just to pay your bills today, but to retire decades from now, as well. With that said, budgeting as a freelancer is uniquely challenging. You cannot simply depend on a steady paycheck, automatic tax withdrawals, and so on. You have to crunch all of the numbers on your own. This makes setting up a solid budget the most important start to your retirement savings. As a freelancer, make sure you have a budget that allows you to set aside the proper amount of taxes that you need to pay. It should also enable you to live below your means. This can help you survive any lulls in income. Create a Long-Term Financial PlanOnce you are sticking to a healthy budget, you can begin to think of the big picture. In other words, having a budget in place for short-term financial activity can enable you to consider things like tax payments, paying down debt, and setting aside savings. When it comes to your savings, in particular, it’s wise to start with an emergency fund. Building up one, three, or even six months’ worth of expenses is a great way to restore a sense of stability to your otherwise fluctuating freelance finances. What's more, keep in mind that sometimes investing money can be the same as saving money — especially when it comes to things like regular doctor visits, upkeeping car maintenance, and more, as putting down small amounts of cash now will save the need for larger amounts later when something inevitably breaks or goes wrong. Once this is done, consider setting up automatic transfers to help you save for the long term. This can ensure that you set aside $50, $100, or even $500 a month to stash away in your retirement account for the future. Another aspect of long-term planning is determining when you’ll retire. With Social Security benefits shrinking and generally in peril, the concept of “retirement” is already in a state of evolution. Add onto that things like the FIRE (financial independence, retire early) movement, and retiring at 65 on the dot is no longer as common as it used to be. Instead, it has shifted to focus on a wide-open future full of potential, rather than simply endless days spent on a beach or the golf course. This makes it perfectly acceptable to plan on staying on the job a few more years to help spread out those retirement savings further into your life. In fact, you won’t just delay tapping into your retirement this way; you can consciously plan on saving even more in the interim, as well. Set Up a Retirement AccountOnce you have a solid budget, financial plan, and automated savings piling up, you have to decide what to do with it. This will really depend on your own situation. While each freelancer has different circumstances, a few common forms of retirement savings include: ● An IRA: An individual retirement account (IRA) can be set up on a personal level rather than by an employer. ● A self-employment 401(k) profit-sharing plan: While most 401(k) plans are out of reach for a self-employed individual, this plan can allow freelancers to contribute both as their own employer and employee. ● Investing on your own: You can also research how to invest on your own — billionaire investor Warren Buffet still claims that putting your money in a low-cost (i.e., minimal investing fees) index fund is the best way to invest over the long term. While traditional retirement options may not be as readily available, there are still plenty of ways to save for the future if you’re a gig worker. Preparing for a Freelance RetirementFreelancers tend to march to the beat of their own drum, and retirement savings is no exception. As a freelancer, you may not have the same easy option as an employer-matched 401(k) plan. Nevertheless, if you create a budget, map out a long-term financial plan, and start saving into a retirement plan alternative, you really can get your retirement savings back on track. via Freelancers Union Blog https://blog.freelancersunion.org/2021/05/20/how-any-freelancer-can-save-for-retirement/
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This is a post from our partner Reedsy, a marketplace for the best freelancers in the publishing industry. To join their curated community of professionals and access thousands of authors, apply here and receive a $50 Reedsy credit toward your first project. If you’ve done any research into becoming a freelance writer (and if you’re reading this article, you probably have), you’ll no doubt have heard about how important it is to have a writing portfolio. Writing portfolios are the backbone of any successful freelance writer’s web presence. It’s the showcase you’ll use to attract new clients, showing off exactly what you’re capable of producing for them. Of course, this is all easier said than done: making a compelling writing profile is a lot more nuanced than just slapping a collection of links together and calling it a day. Your writing portfolio will represent your brand as a writer — as such, it should be treated with all the professional care you’ll use on your client’s jobs. Let’s see how it’s done. Step 1: Define your nicheIt can be tempting to take a very broad approach when you’re pitching yourself as a writer, especially when you’re first starting out. After all, “I can write anything you need!” sounds like a great selling point in theory. But in reality, clients want writers who are experts in their field. Remember the old adage, Jack of all trades, master of none? That’s just as true in writing as in any other career. After all, which sounds like the better writer for the job: the one whose portfolio is scattered over a wide range of subjects and disciplines? Or the writer who’s specialized in exactly the sort of content the client is seeking — with a number of stellar samples that demonstrate that they know exactly what the audience responds to? That’s why you’re much better off defining your niche and becoming a master of one, instead of a generalist. Your client’s needs likely won’t be general. They’ll be specific — and they’ll want you to be, too. There’s also a practical benefit to specializing: You’re much more likely to land writing jobs that excite you if you demonstrate that you can do that sort of writing well. Always write the kind of content you want to be hired for in the future, lest you end up accidentally settling into a niche that makes you miserable, just because those were the easiest jobs to land as a beginner. Step 2: Get some work publishedWe can hear you already: “Wait, how are we supposed to get work published for our portfolio if we need a writing portfolio to land writing gigs?” The truth is, it’s not as much of a catch-22 as it sounds. And that’s due to two words: guest posts. While they’re not likely to be paid work, guest posts are an invaluable way to get your name out there, beef up your writing portfolio (and your brand), and let you show off your writing chops. To get started guest posting, first find some sites relevant to your niche. Google will help here: type in something that a reader looking for your content might search for, and check out the top five results. Do their blogs look like the sort of publication you’d like to write for? Search for pitch guidelines, see if they’ve hosted guest posts before (you can Google the site name with “submission guidelines” or “guest post” to help find this), and then craft a pitch of your own. It’s possible you’ll get more rejections than acceptances. That’s okay! Keep searching, keep trying, and eventually you’ll get your foot in the door. And if you want to expand your routes, you can always: ● Keep an eye for writing gigs on Twitter and LinkedIn ● Find short-term work on sites such as Elance or Upwork ● Talk to local business owners ● Reach out to an organization in your field Whatever you do, don’t include posts you’ve written for your own blog in your writing portfolio. While having a blog may well help you as a freelance writer in other ways, clients want to see work that has been pitched, approved, and edited by someone else. A writing portfolio is about demonstrating you can work with others, as much as showing off your skills. Step 3: Gather and organize your samplesNow that you have a few writing samples under your belt, it’s time to gift-wrap them with a bow on top. You have nearly limitless choices when it comes to hosting your portfolio — everything from self-hosting on your own website to using a service like Wordpress. However, where you host your portfolio isn’t nearly as important as what you include. (In fact, you could even put a portfolio on each of those sites, increasing your exposure to different audiences.) So, how do you choose which pieces to highlight? As you may have guessed, a lot of the decision should be based around emphasizing your brand. Which of your writing samples best shows not just the strength of your writing, but the depth of your knowledge? Try to include a variety — while the subject matter can and should follow your niche, having five posts that all essentially say the same thing isn’t going to impress anyone. Show your potential clients the variety you can find within your area of expertise! Demonstrate your creative writing skills with unique spins on your niche. And, of course, if you’ve landed a spot on a prominent website within your field, be sure to milk that byline for all its worth. Remember, it’s not purely about the number of samples you include. A beginner with only three strong pieces to show is going to look better than someone who has dozens of mediocre posts to their name. Step 4: Make it easy to hire youHaving the most dazzling writing portfolio on the planet won’t do any good if your potential clients can’t get in touch with you! Before you finalize your portfolio, make sure you have a clear explanation of the type of services you provide, and what potential clients can expect from you. Consider such questions as: ● What are your specialties? ● What are the areas you’ve written in before? ● What are some of the biggest-name clients and brands you’ve worked with before? Yes, a lot of this will simply be a summary of what your samples already demonstrate. But if a client is skimming (and let’s be honest, most of them are), you don’t want them to pass you by because they didn’t look at the titles of your samples closely enough. Reiterating your strengths, in categorized bullet-list format, is a great way to drive home why you are the best choice for the job and bring them one step closer to accepting your freelance proposal. Don’t forget social proof and your bio. And of course, don’t hide that “Contact me” button — your call to action! Whether you use email forms or encourage people to reach out on social media, make it clear what the best and easiest way to reach you is. The last thing you want to be, as a freelancer, is a recluse. Step 5: Keep your portfolio updatedLastly, remember to treat your writing portfolio like a living document. Sure, if you’ve followed these steps it will look great now, but how will clients feel a year or two down the road, when they’re looking to hire someone and all your samples are outdated? Are they going to be drawn to the portfolio that’s full of topical posts that haven’t been hot since 2018, or are they going to like the ones that have a mix of fresh and evergreen subjects that they know will resonate with their audience? More than just recent subject matter, an up-to-date writing portfolio shows that you care about putting your best work forward. You’re not just going to coast off past success, but will keep striving to produce excellent work that drives the results your clients are after. Building and maintaining a writing portfolio can be a little slow at first, but once you get the ball rolling, it becomes much easier. Each new success that your portfolio gets you provides one more sample to include — which means in many ways, a rock-solid portfolio builds itself! via Freelancers Union Blog https://blog.freelancersunion.org/2021/05/19/5-steps-to-building-a-rock-solid-writing-portfolio/
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Now that the extended tax deadline of May 17 is behind us, it appears the IRS is planning to play catch-up on issuing refunds to eligible taxpayers this week — including for taxes paid on up to $10,200 of 2020 unemployment compensation which, under the American Rescue Plan (ARP), was eventually excluded from taxable income. The $10,200 per person exclusion applies to taxpayers who are single or married, filing jointly, with modified adjusted gross income of less than $150,000. Whether you receive a full refund, a reduced balance after your freelance tax obligations are met or no refund at all on this amount of unemployment income depends on your individual tax situation. The IRS is currently working to look at returns from individuals claiming unemployment income and calculating any refunds owed as they make corrections based on the change in taxation for unemployment income in this special circumstance. Another positive: the IRS is using direct deposit for refunds. Adding to this good news, the IRS is issuing refunds by direct deposit to taxpayers who provided their bank account information on their returns (If you didn’t, you’ll get a paper check mailed to your address of record.). Even if you receive a refund, it will be subject to normal offset rules, such as those applicable to past-due federal tax, state income tax, state unemployment compensation debts, child support, spousal support or certain federal nontax debts, such as student loans. If this applies to your case, you will receive a separate notice to about using your refund to offset unpaid tax debts. Incorrect or no tax refund? Make sure you have accurate freelance tax records to substantiate your claim. If you receive your refund and believe it is incorrect or you don’t receive one and believe you should, be sure that you keep your documentation handy because you’ll need it to prove your case to the IRS. In fact, as a freelancer, keeping accurate records and retaining tax documents and other records for the required time period is critical. Here are some key points from irs.gov to remember to make sure you are maintaining your freelance tax record requirements adequately: 1) In general, any documents you need to substantiate tax deductions, expenses or other situations affecting your tax return should be kept for a minimum of three years. However, when it comes to employment taxes (see case in point above) you should keep those records for at least four years. 2) Items to maintain records of include at a minimum business-related purchases, sales, payroll, advertising and supply expenses and other transactions used to substantiate your tax return information. 3) As a freelancer, the responsibility to keep accurate and comprehensive records to substantiate entries, deductions, and statements made on your tax returns. This is known as the burden of proof and it is on you. The IRS requires that you must be able to prove certain elements of expenses to deduct them including the date, business purpose and exact amount of the deduction. If you receive a refund that you feel isn’t correct, you can submit an informal small-case request if it is under $25,000. If it is more than that, the first step is an appeal which requires you to prepare a formal written protest. According to the IRS: “The document must include your personal contact information, an affirmative statement that you are requesting your right to an appeal, a copy of the notification you received from the IRS, the relevant tax years that give rise to the dispute and statements of law and fact that support your tax return position.” This is just one more important reason why accurate and consistent record-keeping for your freelance business is so important. Jonathan Medows is a New York City-based CPA who specializes in taxes and business issues for freelancers and self-employed individuals across the country. He provides tax, accounting and business articles for freelancers on his website, http://www.cpaforfreelancers.com—which also features a blog and a comprehensive freelance tax guide. Please note, due to the high volume of inquiries in regard to COVID-19, Jonathan is not able to respond to individual requests for information at this time. via Freelancers Union Blog https://blog.freelancersunion.org/2021/05/18/i-paid-taxes-on-my-unemployment-benefits-now-what/
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This article is posted with permission from our partner Lili. Get the digital bank account designed for freelancers with Lili and manage your business expenses, estimate your taxes, and save for a rainy day all with zero account fees. Start a Lili account today. Digital banks are reinventing the entire banking experience, by introducing a feature that has, thus far, been fairly foreign to the world of banking: flexibility. While the traditional banking model is reliant on having physical branch locations, digital banks almost never have a brick-and-mortar location – all the magic happens online. That means you don’t have to choose your bank because it’s conveniently located at the corner of your street anymore. You can choose the bank that fits your needs based on your professional and financial profile. So instead of pushing a one-size-fits-all offering like traditional banks, digital banks have the freedom to offer tailored services and tools for a very specific set of customers, alongside the speed and convenience of an online experience. Lower fees and higher perksBecause they don’t have to maintain thousands of physical locations, digital banks usually have much lower operating costs, and those savings get passed along to the customer in the form of lower (in Lili's case, zero) account fees, better cash-back offerings and higher interest rates on savings accounts. Faster and simpler processesWith a digital bank, you can open an account in minutes. No need to walk into a branch, wait for a banker to hang up the phone, talk for 10 minutes, print, sign, leave, get a letter, sign, fax… (who still has a fax machine anyway?) New approach – new visionBanks born in the age of the internet, like any digital business, are pushing boundaries and disrupting the status quo. Their operations flexibility allows them to adapt to different types of customers and focus on user experience, innovation, and design. Lili, for example, chose to create a banking experience tailored for the freelancer’s lifestyle. No minimum balance is important when you don’t have a fixed income coming every two weeks, and a tool to categorize your purchases is key when you need to separate your work and life expenses. And a no-fee ATM location finder is really a nice-to-have, when you’re constantly on the-go! If it’s online, it’s always available...Another benefit to banking digitally is that your bank is virtually always open and you typically have more communications options (email, instant messaging, chat, phone…), which means you can manage your money on your own time, and no one else’s. And for freelancers with an ever-changing schedule, this flexibility really comes in handy! You can take care of a lot of your banking transactions (depositing checks, making transfers, request a payment…) any day, any time. The actual exchange of funds usually occurs during standard business hours, but ordering a money transfer on Sunday means you can focus on your clients on Monday! …and it’s just as safeThere’s an old fear that your money isn’t as secure with an online bank as it would be behind the 300-pound solid steel door of a backroom vault. But nowadays, digital banks take the exact same security measures as traditional banks when it comes to keeping your data and your dollars secure. Some digital banks (including Lili) are also FDIC insured through a partner bank, meaning your money is insured by the government up to $250,000 if anything happens to it. Some old fears are just old. via Freelancers Union Blog https://blog.freelancersunion.org/2021/05/13/why-mobile-banks-work-for-busy-freelancers/
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I approach my work in a way that makes me indispensable to my clients so that I become an integral part of their team. And becoming an integral part of their team makes me indispensable because they don’t have to re-explain branding or context to me with each project and they know the quality and speed of my work. Plus, the quality and speed of my work only increase the more I work with them because I understand what they need and how best to work with them. This type of client relationship isn’t for everyone, but if you want to build some staying power with your clients, and maybe just date them longer instead of marrying them, here’s how I make myself indispensable. I hear what they need, not what they think they needOften freelancers, especially new ones, will say yes to whatever a client wants. When I work with clients, I wear my freelancer and consultant hats simultaneously. This means that I’m asking upfront what the end-goal is, using strategic questions to get at what they really need, and pushing back when they start asking for things that won’t actually achieve their goals. You’ll find that clients actually appreciate a critical eye and willingness to ask questions more than someone who just says yes to whatever they want. It positions you as an expert and external thought partner who can often see their work differently from the outside. There are ways to build this into your process for all clients including standard project initiation questions and utilizing brainstorming processes. This also becomes easier as you work with a client repeatedly because you understand their historical context and build relationships that allow you to be more direct with your input and feedback. They come to see you as an advisor and not just hired help. I never, ever drop a ballThis may sound like a no-brainer but I’m always surprised by the number of freelancers I work with and coach who drop balls….constantly. For me, there are three keys to always delivery on your promises for clients:
I strategically and carefully allow scope creepScope creep, the dreaded words that keep freelancers up at night. You start a contract with a distinct scope and before you know it, you’re running a whole team, designing a whole system, or fielding all of their tech issues. I’m with you. One of the biggest things I coach freelancers on is defining their work for clients instead of letting clients define it. When I first start with a client, I’m very careful about how I position my expertise so that I can deliver what I promise and never drop balls (see above). You need a period of time to feel out the working relationship to understand their context and expectations, and make sure you’re positioning yourself in a way that plays to your strengths. Once I’ve done that, usually after I’ve completed a distinct project, I listen for ways that I can add more value in other areas. There is a tricky balance you have to strike here. You never want to position yourself as an expert at something that you don’t know how to do, but once you understand the larger context of the work, it is easier to see where you can branch out. This not only allows for you to position yourself as more valuable to your client it also allows you to stretch yourself and learn new things. Here’s one example from my work. I started managing the programmatic side of a training program and as a result, became very familiar with the content. Now I not only manage the program, I also help drive the strategy for content creation and delivery. © Fruition Initiatives LLC 2021 via Freelancers Union Blog https://blog.freelancersunion.org/2021/05/12/how-to-make-yourself-indispensable-as-a-freelancer/ |
AuthorI have 5+ years experience working as a medical transcriptionist. When I am not working, I enjoy sports like playing basketball or judo. I love making friends and connections. Archives
April 2023
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