#diylifehack

[odiyi]

Investing for the Long Term & Short Term for Freelancers

Investing for the Long Term & Short Term for Freelancers

As a freelancer, it's essential to set financial goals and actively save for short-term and long-term goals. This guide will provide you with valuable tips to help you save effectively and achieve your financial goals. Short-Term Goals 1. Set a Budget: The first step in saving is to establish a budget. Track your income and expenses to understand where your money is going and identify areas where you can cut back. 2. Pay Yourself First: Aim to save a portion of your income before spending it. This can be achieved by setting up automatic transfers into a separate savings account. 3. Minimize Disposable Income: Avoid unnecessary expenses by living within your means. Avoid compulsive spending and prioritize essential purchases over non-essential items. 4. Invest in Tax Deductions: Take advantage of tax deductions available to freelancers. By claiming allowable deductions, you can reduce your tax liability and save more money.

Photo by Mathew Schwartz Mungyeong-si, South Korea Long-Term Goals 1. Set a Financial Plan: Create a detailed financial plan that outlines your financial goals, time horizons, and strategies to reach them. This plan will serve as a roadmap for your savings journey. 2. Invest in Retirement: Start saving for retirement as soon as possible. Invest in a retirement savings plan such as a 401(k) or an IRA. Aim to save at least 15% of your income towards retirement. 3. Save for a Rainy Day: Establish an emergency fund to cover unexpected expenses such as medical bills, car repairs, or job loss. Aim to save at least three to six months' worth of living expenses. 4. Pay off High-Interest Debt: If you have any high-interest debt, prioritize paying it off first. High-interest debt can quickly accumulate interest, making it more difficult to save effectively. Conclusion As a freelancer, saving for short-term and long-term goals is crucial for financial success. By implementing these strategies and adhering to a budget, you can save money and achieve your financial goals. Remember, saving is an ongoing process, so stay focused and disciplined to achieve your financial goals. Read the full article

[alexxis-79]

9 Simple Life Hacks 

[craft1ideas]

Are you from 𝗲𝘅𝗽𝗹𝗼𝗿𝗲? 🥰 ❣ make sure to 𝙛𝙤𝙡𝙡𝙤𝙬 for more strictly satisfying content @oneideas  ❣ . Credits ➡️  #Repost From @evde_etkinlikler No Copyright Infringement Intended❌contact us to fix/remove . ❤ Share, Follow & Comment 🥰 👨‍👨‍👧‍👦 Tag your Familly & Friends 👌 . Also Follow: 👉@life_hacks_idea 👉@craftart2021 . . Check www.oneideashopping.com for best product gift ideas . . #diyer #diyprojects #doityourselfproject #dyi #diyhomeprojects #diyinspiration #diylove #craftoftheday #ilovecrafting #craftproject #feelingcrafty #craftingideas #diylifehacks #craftaholic #creativee_tutorials #crafty #craftymom #diyforlife #craftylife #craftingfun #oneideas #diycrafts #diytutorial #diyideas  #craftideas  #easycrafts #diyvideos #instadiy #5minutecrafts https://www.instagram.com/p/CNkfMefFKht/?igshid=176wf4icbbb1b

[ash3033]

Wanna learn how to make this for under $40??? 😱😱 Check this out!

https://youtu.be/nN7u8hv9gO4

[glitterllamasxanaxandlove]

Love the lights off ❤️

[priyareviews]

Indian diy face masks are so popular now. This is great for reducing inflammation and to even out skin tone. Its simple and quick to make, using just 3 ingredients which are probably in your kitchen closet right now. Go on and try it!

[lostsoul422]

Made my own diy crochet project 🧶

[dissociatedcardboardbox]

pro life tip: don't eat a bagel if you don't want to eat a bagel

[odiyi]

A guide to saving money with freelance tax deductions

A guide to saving money with freelance tax deductions

As a freelancer, it is crucial to maximize your tax deductions in order to lower your overall tax liability. By taking advantage of various deductions available, you can reduce your taxable income and save a significant amount of money. In this guide, we will explore some freelance tax deductions that you might be missing, helping you boost your savings. 1. Home Office Expenses If you work from home as a freelancer, you can claim tax deductions for your home office expenses. This includes expenses such as rent or mortgage, utilities, internet, office supplies, and depreciation on furniture. To claim this deduction, you will need to allocate a certain percentage of your home expenses to your business use. 2. Business Travel Expenses Freelancers who travel for business purposes are eligible to claim tax deductions for travel expenses. These expenses may include airfare, rental cars, hotels, meals, and transportation costs. It is important to keep accurate records, including receipts and itineraries, to support your deductions. 3. Professional Fees and Subscriptions Freelancers can deduct professional fees and subscriptions related to their business. This could include membership fees to professional organizations, subscriptions to industry publications, and online courses or training. Make sure to hang onto any receipts or invoices to substantiate these deductions.

Photo by Linda Yuan Seongsan Ilchulbong, Seogwipo-si, Jeju-do, South Korea 4. Marketing and Advertising Expenses Promoting your freelance business is essential for growth and attracting new clients. You can claim tax deductions for marketing and advertising expenses, including website design and development, social media advertising, business cards, and marketing materials. Again, it is important to maintain proper records to support these deductions. 5. Equipment and Supplies Freelancers can deduct the cost of necessary equipment and supplies used for their work. This may include computers, printers, software, office supplies, and other necessary tools. It is essential to keep receipts and records of these purchases to support your deductions. 6. Continuing Education Freelancers can claim tax deductions for continuing their education, as long as it is directly related to their business. This could include workshops, conferences, online courses, and professional development programs. Keep records of your expenses and any certifications or qualifications obtained. 7. Health insurance premiums Freelancers can claim tax deductions for their health insurance premiums, as long as they qualify as a self-employed individual. This includes premiums paid for individual health insurance policies, as well as contributions to a health savings account (HSA) or flexible spending account (FSA). 8. Retirement contributions Freelancers can contribute to retirement plans, such as an individual retirement account (IRA) or a 401(k), and deduct their contributions from their taxable income. This can provide a valuable tax-saving benefit for freelancers who are saving for their future. 9. Business-related Self-Employed Health Insurance If you pay for health insurance as a self-employed individual, you can claim tax deductions for the business portion of those expenses. This includes premiums paid for coverage under a high-deductible health plan (HDHP) or a qualified small employer health reimbursement arrangement (QSEHRA). 10. Legal and Accounting Fees Freelancers can deduct legal and accounting fees directly related to their business. This includes costs for tax preparation, legal advice, and accounting services. Keep detailed records of these expenses to support your deductions. Remember, it is essential to consult with a tax professional or accountant to ensure the accuracy and compliance of your tax deductions. They can help you identify additional deductions that may apply to your specific situation, maximizing your savings and ensuring compliance with tax regulations. Read the full article

[nimmivijayakumar]

DIY FRIDGE MAGNETS

Watch my new video on YouTube about how to make easy fridge magnets....

Its simple, useful and decorative...

[myscaledworld]

[californiasnow]

So I tried the tik tok thing to make diy custom shirts and... it works????... kinda????... I mean the pic I printed is there but the top right corner is not sticking well, so I’m positive the whole thing is going to fall off soon???

BUT WILL I MAKE THOUSANDS OF MEME SHIRTS ANYWAY??? HELL YEAH

[karimcheese]

Final Product after a great DIY 🙏🏾