Sean recently sat down with longtime friend and successful entrepreneur Adam Markley to talk about how freelance copywriters should approach taxes and tax deductions. As it turns out…
You can keep a LOT of money in your pocket if you understand what the government lets you write off as a “business expense.”
We’re talking potentially thousands of extra dollars YOU get to keep every year.
Watch until the end to hear them talk about:
0:00 - Introducing Adam Markley
6:32 - What’s the difference between being an employee and a contractor?
9:30 - How much should freelancers save for taxes?
13:09 - Do you need to have an official company to claim business expenses?
16:55 - What expenses can freelancers legally deduct?
21:49 - How to keep track of business expenses without an accountant, software, etc.
25:07 - Deductible or not deductible?
25:15 - Home Office Expense Deduction
26:53 - Office Supply Deduction
27:05 - Work Meal Deduction
30:38 - Video Game Expenses (Hobby vs Profit-Seeking)...