Working from home allows people to follow their interests and set their hours. However, with this freedom comes new responsibilities, particularly regarding taxes. Understanding how taxes work in freelance work is essential for anyone pursuing this career path. From navigating self-employment taxes to maximizing deductions, mastering the basics of freelance taxes can help freelancers stay compliant with the law and optimize their financial health.
In this comprehensive guide, we’ll delve into the fundamental concepts of taxes for freelance beginners. We’ll explore the types of taxes freelancers must pay,