# @hrblock on TikTok

- **Type:** Video
- **Original URL:** https://www.tiktok.com/@hrblock/video/7355251236645424426
- **Gondola URL:** https://gondola.cc/posts/16832091-hrblock-tiktok
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/thumbnails/373cb6f4bd.jpg
- **Posted:** 2024-04-07T22:11:44.000+00:00
- **Account Owner:** H&R Block (@hrblock) — https://gondola.cc/hrblock

## Caption

5 tax hacks for freelancers👇🏽 Don’t spend all that freelancer money. With freelance income, you’re responsible for setting that money aside to pay taxes. Not sure how much to pay, setting aside a third of any #freelance income is a good rule of thumb. 💰 Keep your business records separate from personal. Try opening a new bank account that you use only for depositing business income and for expenses- this can help you prepare your tax return faster or in the unlikely case of an #audit. 🏦 Take advantage of #deductions. You can deduct ordinary and necessary expenses for your freelance work, including office supplies to miles you log in between visiting clients. 🫰🏻 Report all your income. If you earn $600 or more from any one source, that person or company is required to file form 1099 with the IRS detailing how much they paid you. 📨 Don’t be afraid to ask for help. Filing taxes as a freelancer can get complex. Enlisting the help of a tax professional can be a good idea to help you maximize deductions and avoid mistakes that could trigger penalties – and unnecessary headaches – later on. Get matched with a tax pro that's right for you and your #tax situation at H&R Block. 🟩

## Stats

- **Views:** 194
- **Likes:** 4
- **Shares:** 0
- **Comments:** 2

## Credits

| Name | Username | Profile | Role |
| --- | --- | --- | --- |
| Ceylan Ersoy | @ceylanersoy | https://gondola.cc/ceylanersoy | Digital Creator |

## Tags

tax, freelance, deductions, audit

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