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Freelance Money checklist

16 money basics for running your freelance work like a pro.

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Set up right

One afternoon, done.

  • Open a separate account for freelance money Guide
  • Start a simple income and expense tracker Guide
  • Get a free EIN to use on W-9s Guide
  • Check whether any local license or registration applies Guide

Price and get paid

Charge enough, get paid on time.

  • Work out your rate from what you need to earn Guide
  • Use a short written agreement for every project Guide
  • Send clear invoices with due dates Guide
  • Set a yearly rate review date Guide

Taxes

No surprises in April.

  • Move a set percentage of every payment to a tax account Guide
  • Put estimated tax dates in your calendar Guide
  • Photograph receipts and log business miles Guide
  • Keep records for at least three years after filing Guide

Protect yourself

The safety net a job used to provide.

  • Open a retirement account and automate a contribution Guide
  • Check your health coverage options and costs Guide
  • Build a buffer for slow months Guide
  • Pay yourself a steady monthly amount Guide