Hi there,
This issue's habit: move it the day you're paid
Every time a client payment lands, move a set percentage straight into a separate tax savings account, before you spend anything. It turns a scary April bill into money that's already sitting there. The right percentage depends on your income, deductions and state; our tax set-aside calculator gives you a starting estimate.
A tax rule worth knowing
You can get an Employer Identification Number (EIN) free from IRS.gov and use it on client W-9 forms instead of your Social Security number. It takes a few minutes online. See W-9s, 1099s and your taxpayer number.
Reader question
"A client didn't send me a 1099. Do I still have to report that income?" Yes. You must report all your self-employment income, whether or not you receive a form. Your own income log is your record.
To your next invoice,
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Rip & Ride LLC, 30 N Gould St Ste R, Sheridan, WY 82801, USA