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Council Post: 15 Finance Experts Share Smart Strategies For Aspiring Full-Time Freelancers

Quick summary:

1. Yet important details regarding benefits (such as healthcare, paid vacations and 401(k) plans), business insurance requirements, the effort required to win new accounts, and tax implications are often not well understood.

2. Create a business identity for tax and business purposes that allows you to formalize your freelance efforts.

3. One of the essentials of being a freelancer is the ability to have high-limit credit cards and lines of credit to grow your business and trustworthiness

#biyro #wirralbusiness #businessconsulting #smallbusinesslife #bussines

More: https://biyro.com/blog/freelance/council-post-15-finance-experts-share-smart-strategies-for-aspiring-full-time-freelancers/
How to start with freelancing

Recent highlights:

1. Do you want to start freelancing to supplement your full-time income or are you someone who wants to be a full-time freelancer by replacing your full-time income with the income from your business?

2. Warm leads or hot referrals are the ones where the client either knows one of your current clients and is in a similar space as your current client or someone who is closely related to your client and also is actively looking for a service like yours.

3. When you start your freelance business, you should think about strategically selecting your clients and not really say yes to anything and everything

#biyro #smallbusinesslife #networkingbusiness #bizowner #workout

More: https://biyro.com/blog/freelance/how-to-start-with-freelancing/
3 Mistakes Independent Contractors Should Avoid When Categorizing Business Expenses

Recent highlights:

1. Home office expenses: If you work from home—as 86% of freelancers do—there are a number of home expenses that can count as business expenses.

2. If it's primarily for business purposes, then it is likely a business expense (get this one tattooed to your arm, because it's really easy to forget).

3. ' Therefore all expenses must be related to the business, ordinary in the course of business and not exorbitant

#biyro #businesscoach #builderall #businessbuilding #smallbusinesslife

More: https://biyro.com/blog/freelance/3-mistakes-independent-contractors-should-avoid-when-categorizing-business-expenses/