Thursday, October 8, 2009

Where can i get a job as a freelance columnist, as a 14 year old

Where can i get a job as a freelance columnist, as a 14 year old?
I am 14 years old, and would like to think I have what it takes to be a columnist in a magazine/newspaper, however I cant find anywhere that is looking for a columnist from the angle of a teenager, which I think would be interesting...
Other - Careers & Employment - 2 Answers
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1 :
Your best bet would be to write in to several teenage magazines and asking if they'd have anything you could write about, like maybe movies, series or product reviews or writing articles on popular topics like music etc. Or better yet, ask around and see if you've any family or friends that work for a particular magazine/newspaper and see if you can help out. You'd need to have excellent English, grammar and punctuation though to be taken seriously. You'd probably have to do some free freelance work in the beginning but it's always good for your CV. Good luck!
2 :
What are you thinking of writing about? Report on doings at the local school from a teen's perspective? Talk about - better yet, interview - teens active in the community, like volunteering and competing in sports, etc? Focus on your approach, your "voice," and your TOPICS. Then write "dummy copy" - three or four sample columns. Make an appointment with the editor of your local paper - write or email your query and request an appointment to discuss your future career interest and show samples of proposed weekly (or monthly) column. Get the editor's feedback. Make sure your samples are very well written! NO spelling or grammar mistakes! Have someone read them and comment on their content to ensure you explained things clearly, wrote with clarity, precision and an engaging style. Don't even think about approaching a major city newspaper or a regional or national magazine until you have publishing credits and can show samples of PUBLISHED work. Start locally with a small town or neighborhood weekly or monthly. And remember, "Deadline" means you and your career are dead if you cross the line. Can you, and will you, always meet your deadlines - no matter what

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Sunday, October 4, 2009

What is the correct way to declare freelance income

What is the correct way to declare freelance income?
I have a regular part time job with the normal tax issues, but I recently accepted a very small freelance writing job as well. I am unsure how to deal with the taxes and social security stuff with this. The job required me to send in a W-9, but I understand this to be only for their records. What is the right way to declare my income for the freelance job, and how do I withhold the right social security etc.? I am completely lost on this, but I want to make sure that I follow all the rules properly. Thanks in advance!
United States - 7 Answers
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1 :
Schedule C Schedule SE (for the social security and medicare taxes on this income)
2 :
The best way to consult the lawyer.
3 :
I'm assuming that this job started during 2007. Anyway, you'll be receiving a Form 1099-MISC that will show your total revenue earned from the freelance writing job. If the amount is under $600, the organization isn't required to send you a 1099, but you're still required by law to report the income. You can simply report the total amount as "miscellaneous income" on page one of the 1040 and then complete Form SE to calculate your self-employment taxable income. However, if you have any expenses to offset this income, you'll need to complete Schedule C (for self-employment income). The Schedule C is pretty much like an income statement: tell the IRS how much revenue your business brought in, and then report what you had to spend to do it (expenses). You probably have at least some postage and paper expenses, I would think, so it's probably worth it to file Schedule C. If you're feeling uncomfortable about the whole issue, it might be worth your while, at least for the first year anyway, to talk to an accountant (who is a tax preparer) about how to best handle this new business venture. Depending on how much this business is earning, you may need to pay estimated income taxes (federal and state). That's an area that can be really confusing, so it's best to talk to a tax pro who can look at your total tax picture and give you some one-on-one advice. Good luck! Sounds like a fun business venture!
4 :
Keep track of your income but also keep track of your expenses. If you file a Schedule C, you can deduct certain things like miles, office expenses, etc.
5 :
You list the freelance income and any deductible associated expenses on a schedule C or C-EZ. Then you use a schedule SE to figure your self-employment tax, which is for social security and medicare. The bottom lines from each of these schedules transfers to your 1040.
6 :
When you sent in the W-9 did you mark off that you are exempt from backup withholding? I assume you did. It all sounds like you are an "independent contractor". You will be issued a 1099 at the end of the year. To cover yourself for the current year, look at your return from last year. Determine which tax bracket you are in: either 15%, 28% or 35%. As an independent contractor, besides Federal Tax, you are also responsible for the payment of self-ermployment tax (Social Security, same thing). The net rate of self-employment tax is 12.6%, and state taxes as well. The easiest way to calculate what you will owe is to make a tax projection for the year as follows: Estimated 1099 Earnings for the Year $ 20,000.00 Self-Employment Tax ($20,000 x 12.6%) 2,520.00 Federal Tax (15%) 3,000.00 Total 5,520.00 divided by 4 = $ 1,380.00 payable to the United States Treasury. As an independent contractor, you would pay your estimated tax on a quarterly basis - April 15th, June 15th, September 15th and January 15th. If you cannot estimate your tax burden on an annual basis, then estimate on a quarterly basis, or a monthly basis times three, or a weekly basis by 13. There are 13 weeks in a quarter, not 12. Your estimates can vary from quarter to quarter. By doing this and doing it regularly, you will not have a scare when you prepare your taxes next year. For state purposes, do the same thing, but mutiply your earnings by the states income tax rate for a resident.
7 :
You file a Schedule C in order to declare the income you made (make sure to take off all the expenses you had, they count against the income). You'll also need a Schedule SE, this is how you pay the social security taxes

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Thursday, October 1, 2009

Tax Question for my freelance job. Thanks

Tax Question for my freelance job. Thanks?
Hi, I live in California and I have been doing some freelance work besides my full time day job, the freelance work I do generates about $3000 worth of extra income per month. A couple friends of mine have been telling me the possibilites of putting some expenses as tax deductions for the income I get from freelancing. Expenses such as computer purchase, car lease payments, cell phone bills...etc Can anyone give me an estimate on how much % of the expense are deductable for some of the items I mentioned? Such as if I buy a $3000 laptop, how much of that would go into tax deduction? thanks so much for helping
United States - 2 Answers
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1 :
You will have to show that any expense is job related and "ordinary and necessary" to do your job. If an items is used for both personal and business use, you will have to keep logs of use and would only be able to deduct the business use. Deductions for cars are limited to prevent a business person from writing off a sports car vs. buying a cheaper sedan. Assuming you can justify the computer, what percentage of the time will you use it for work? Do you already make a lot of long distance calls for work? How have you been making those calls? The IRS believes that a portion of the calls made will be personal and doesn't like to allow deductions for personal use. If you don't have another phone, they may claim the base charge is all personal. Where in your current job do you drive? If you buy a car, what percentage of the distance will be personal?
2 :
For your freelance work you will complete schedule C (Form 1040) where you can deduct your business expenses. This includes car mileage/car lease payments and phone bill based on percentage of business use. The computer/laptop is capital expense. Normally you take depreciation for capital expense. However, if you use such goods for more than 50% for business you can deduct full amount under section 179 deduction. The business use must continue for five years. For completing your tax return you should use software and do it yourself or use a tax preparer. Software will guide you about section 179 deduction.

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