Join Petrula Vrontikis for an in-depth discussion in this video Required forms and quarterly payments, part of Running a Design Business: Freelancing.
I'm going to help you become familiar with some of the forms and regulations…that are necessary for freelancing.…Before an agency can pay you, they will ask you to fill out a W-9 Form where you…provide your Social Security Number and your address.…Unless you have a legal partnership or corporation, you'll check the box that…says sole proprietorship.…This form confirms that you are an independent contractor and that the agency is…not required to withhold State or Federal income taxes from your payments.…
In January of the following year, the agency adds up the payments made to…you the previous year.…If you've earned more than $600, you'll receive a 1099 Form, which states the…total amount paid to you by the agency.…They mail it to you on the address you gave them on the W-9.…So if your address changes, you must be proactive and notify the agency that…paid you as a freelancer in the previous year. Because no taxes are withheld…from your earnings, both the IRS and the state income tax agencies require that…
- What is a freelancer?
- Tracking expenses
- Paying taxes
- Understanding business licenses
- Creating contracts and invoices
- Preparing, transferring, and storing files
- Tracking billing and payments
- Managing your work-life balance
Skill Level Beginner
Running a Design Business: Designer-Client Agreementswith Terry Lee Stone1h 10m Appropriate for all
Running a Design Business: Starting Smallwith Petrula Vrontikis1h 33m Appropriate for all
1. What Is a Freelancer?
3. Agreements and Contracts
4. Professional Practice
5. Organization and Getting Paid
Creating past-due notices2m 47s
6. Long-Term Success Strategies
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