If you are like us, you want to skip office politics and stress and work for yourself. It’s a common goal for many people out there, and it’s not so far-fetched an idea as you think. To work for yourself, you’ll need to keep in mind that clients or customers could be as hard to work with as co-workers, other businesses and so on. That being said, there are many benefits to working on your own:
- More creative freedom
- You pick your schedule
- Unlimited Earning Potential
- and a few others
Working by Yourself
If you have the discipline to do jobs that will get you money alone, you should pursue it. Working at a co-working space can help you retain an occasional business conversation with another entrepreneur. If you have unique knowledge of any kind (don’t make yourself think that the skill IS NOT unique), then you can start to think about going remote. Convince your boss that it’ll save THEM money by either making your employment an expense by working as a contractor. This way they can tax write-off your employment. Keep in mind this results in a heavy tax burden on your end. But, you’ll be able to work remotely and possibly gain other clients in doing so!
Taxes and such
As mentioned before, taxes are a big selling point when negotiating a fully remote position or contracting job. Contractors are required to pay taxes four times a year, known as Estimated Taxes. Keep a savings account for estimated taxes, which is about a quarter (1/4th) of what you make. So if you charge $4000 a month, save $1000 from each paycheck and then pay $3000 for estimated taxes.
Super Money Hack!
There are many ways to pay taxes, but few realize that by paying with a Credit Card you’ll not only supercharge those reward points but possibly earn bonuses super fast! With Plastiq, you’ll be able to pay TAXES with a credit card, along with rent and such. It does charge an extra 2.5% for doing so, but use code 632873 for a chance to reduce the charges. Time to get to start those jobs by yourself and earn super fast rewards!