Finding work, managing client expectations, and then finding the time to actually do the work that you got hired for – you’re no stranger to the laundry list of responsibilities that come with being a freelancer.
You may even be privy to the changes in financial responsibilities that, because we are so used to having an employer handle for us, often get overlooked. These are things like finding adequate insurance, setting enough money aside for retirement, and making sure you have enough money in the coffers to weather an unexpected emergency.
And then there’s taxes. The one thing that almost every freelance business owner grapples with at some point. From navigating antiquated worksheets to calculate how much to save, to actually getting quarterly payments to the IRS in time to avoid late fees – it’s easy to see why managing self-employment taxes can be such a nightmare.
If you still haven’t mastered the process of staying ahead on taxes, you’re not alone. Studies show that a large portion of freelancers aren’t sure of how much they’ll owe at year end and haven’t started putting money aside to cover their obligation. Unfortunately, this is when we see folks get behind on their taxes and are often forced to hang up their self-employment hat for the stability of a W2 job.
For years, we dealt with self employment taxes by hand and watched a number of our good friends get blindsided by a big bill from the IRS, so we decided that there had to be a better way of managing self-employment taxes. That’s why we built Painless1099. By automating the tax withholding process, we eliminate the need to spend hours sifting through frustrating IRS worksheets and the nightmares of getting burnt by a big tax bill.
As freelance business owners, our energy is best spent focusing on the things we do best, like building strong client relationships and delivering top quality work. You shouldn’t have to work for someone else to have access to the protections and benefits necessary to have a financially stable work environment. That’s why we are committed to continue adding products and features that make it easier for you to do the work you love and create a successful career while doing it.
#FREECON is happy to bring solutions like this to you, learn more about Painless1099’s tax and benefits automation and start creating your own discounted account by clicking here.