What are my tax obligations as a freelancer?
An example of an AI chatbot conversation about freelance business tax obligations.
What are my tax obligations as a freelancer?
As a freelancer, you are typically required to pay self-employment tax, income tax, and possibly state taxes. It's important to keep track of your income and expenses.
How do I keep track of my income and expenses?
You can use accounting software, spreadsheets, or even apps designed for freelancers to track your income and expenses. Make sure to categorize them properly for tax purposes.
What deductions can I claim as a freelancer?
Common deductions include home office expenses, business supplies, travel expenses, and professional services. Always keep receipts!
When do I need to file my taxes?
Freelancers typically need to file their taxes by April 15th, but if you owe taxes, you may need to make estimated quarterly payments.
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