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This article was first published by the IRS and has been reproduced with permission. Subscribe to IRS tax tips here. Freelance taxes can be complicated, and no two freelancers have the same financial needs. That's why it's often recommended that you consult a professional for advice on your particular situation, and for help preparing your taxes. There are different kinds of tax preparers, and a taxpayer's needs will help determine which kind of preparer is best for them. With that in mind, here are some quick tips to help people choose a preparer. When choosing a tax professional, taxpayers should:
via Freelancers Union Blog https://blog.freelancersunion.org/2020/12/03/how-to-choose-a-tax-preparer/
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The need-to-know:
It’s hard to believe we’re in the same position we found ourselves in back in July, as the $600/week FPUC benefit was about to expire. At that time, the Senate was locked in a political stalemate, refusing to pass the House HEROES 2 package that would have extended that benefit, as well as including many. At the end of July, FPUC expired, and millions of freelancers who had been making ends meet on the PUA assistance program were left making an unlivable fraction of their previous wage. Today, we’re in an even more dangerous situation. On December 31, nearly all of the provisions of the CARES Act will expire. Among the relief measures that will end are: The sad fact is that when CARES was passed in March, nobody could imagine that this crisis could last more than nine months, or that we would be in a worse position at the end of the year than we were back in the spring of 2020. But that’s exactly what has happened. Right now, COVID-19 cases are spiking dramatically in every state in the country. The federal government has abdicated responsibility for the health of its citizens. We’re in for a hard winter, and it will only be harder if millions of working people are not given the economic relief they need to keep them in their homes, keep their families fed, and provide them the ability to stay safe from this rampant disease. The current funding bill runs out Dec. 11. This is the moment to flood the Senate with your calls, emails, and letters. Contact your senator, as well as Senate Majority Leader Mitch McConnell, and let them know you demand a comprehensive relief package that will keep freelancers safe. Use our email template when you get in touch: Dear Senator [NAME], I am your constituent and a member of the Freelancers Union. I write today to express deep concern about the millions of freelance and self-employed workers like myself who continue to experience unprecedented income loss because of the COVID-19 pandemic. With PUA set to expire in weeks, we are on the edge of even greater financial catastrophe. [Tell your personal story with PUA/UI here, if you have one] I urge you today to support freelancers and all Americans in the next relief bill by instituting the proposals below: 1. Extend Federal Pandemic Unemployment Compensation at $600 until the pandemic is over and implement it retroactively to September 1st. 2. Require states to calculate all mixed earned income for freelancers in PUA eligibility determinations and assistance calculations to ensure that freelancers are fairly awarded unemployment assistance. 3. Expand Pandemic Unemployment Assistance to include all workers who have been impacted by the COVID-19 pandemic. Current guidance extends PUA to individuals who are quarantined or have contracted COVID-19, are caring for family members with COVID-19, or have had their places of employment shut down because of COVID-19. This definition leaves out the hundreds of thousands of freelancers who have experienced canceled contracts due to the sharp decline in the economy. 4. Extend a monthly stimulus payment of $2,000. 5. Establish rent and mortgage forgiveness. The next stimulus package must serve freelancers. I urge you to prioritize these policy changes. via Freelancers Union Blog https://blog.freelancersunion.org/2020/12/02/the-senate-needs-to-act-on-covid-relief-now/
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Have you ever had an introductory meeting with a client where you walked away feeling great about the project and then… …your proposal falls flat? …you get the job but the client’s expectations are totally unrealistic? …you promise to do something that is outside of your comfort zone and ultimately can’t deliver? You are an expert in your field. You know all of the intricacies of what it takes to do the work. Sometimes that can hinder you in getting the information you need from your client and ensuring that they understand what the process will look like. You know too much, which can prevent you from asking the right questions and explaining things clearly. This can put you in the position of not fully understanding the scope of work, which can lead to unclear proposals, frustrated clients, and projects that set you up to fail. Do these five things so you and your client are set up for success from the start. Develop a standard pre-contract processIntentionally create a list of pre-contract questions ahead of time so that you ensure you get the information you need up front. You’ll want to pair these with a standard description of your services. Have someone who knows nothing about your work read both of these to highlight areas where your expertise might be getting in the way of clarity. You’ll also be able to add to and adjust both your pre-contract questions and your services overview based on your interactions with clients. Design this process so that you’re basically writing your proposal as you go - asking them upfront for all of the information that will show that you understand what they need and can position yourself as the perfect fit for the job. Hear what your client wantsNotice that I said hear and not ask. You are the expert here. Your client might have an idea of what they want, but you are the person who knows what will actually help them achieve their goals and the right path to get there. As you go through your pre-contract questions make sure to push your clients on places where their answers aren’t thorough enough, they have unrealistic expectations, or are asking for things that won’t help them meet their goals. Your clients are going to respect your expertise more if you use it to guide them through the process as opposed to just saying yes to everything they ask. Check your assumptionsAfter each question reframe what you’ve heard to ensure that your familiarity with the work isn’t filling in the blanks for you. For example: You: How do you envision my role? Client: I envision you as our lead on social media strategy ensuring that execution is happening and we are meeting our goals. You - reframe: It sounds like you’d like me to create the strategy and supervise the execution of that strategy as needed. Client: Actually, I’m envisioning you crafting the strategy and then executing it from start to finish. Find the intersection of ambitious and feasiblePart of being an entrepreneur is taking risks and trying new things. As a project strategist, I often take on types of projects that I’ve never done before. Stretching and learning new things is part of what makes this kind of work exciting. I also have a replicable structure and a set of standards that ensures I alwaysdeliver on my promises and I never miss deadlines. You can promise your clients the sun and stars, but if you can’t deliver them, on time, then that promise never mattered in the first place. Being able to deliver starts at project initiation by ensuring that you are crystal clear with your clients about what they want and what is feasible, and crystal clear with yourself about what you can deliver, and by when. Don’t be afraid to say noI’ve seen so many contractors get into a position where they couldn’t deliver what they said they would or on the timeline they promised because they didn’t push back upfront around what was possible, what actually aligned with their expertise, or what would help their clients achieve their goals. Always frame push-back in terms of quality and results because that truly is the driver and something that is mutually important to both you and your client. Don’t hesitate to say no to part of a project or an entire contract if it isn’t a good fit. Agreeing to do things that are unrealistic or that you can’t actually do is only going to lead to unsatisfied clients and no repeat work. © 2020 Fruition Initiatives LLC This article is for informational purposes only. I’m not a mental health professional, attorney, doctor, tax accountant, or financial adviser. Please consult a professional as needed. Turn your ideas into action. Learn more about me and Fruition Initiatives. via Freelancers Union Blog https://blog.freelancersunion.org/2020/12/01/make-sure-every-project-is-a-good-fit/ |
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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