How to File Taxes as a Freelance Writer (And Stay Sane While Doing It!)
Posted: Sat Feb 22, 2025 6:27 am
The gig economy, also known as access economy or sharing economy, has changed the way Americans earn a living. Gig workers, among which are freelance writers at WriterAccess, provide goods and/or services on demand. Just as gig work has transformed the way business is handled today, it has also impacted the way taxes are paid. You need to know how to file taxes as a freelance writer if you want to survive tax season this year.
As freelancers, we don’t usually get a W-2 like we did when we were traditionally employed. Instead, we obtain a 1099-MISC form and are expected to pay quarterly estimated taxes. This changes the tax game significantly and can be a bit problematic if you aren’t prepared for what’s coming.
How to File Taxes as a Freelance Writer
If you want to survive tax season with your sanity intact, you’ll need to learn how to file taxes as a freelance writer. Below, I’ve put together a list of some of the most important things you need to know before filing your taxes this April.
Who has to file a 1099-MISC?
According to federal tax law, all companies have to provide workers who india cell phone number list earn over $600 through their organization with a 1099-MISC form at the end of the calendar year.
However, some digital platforms differ a bit. According to Caroline Bruckner, who is the director of the Kogod Tax Policy Center, digital platforms work a little differently. Tax rules do not require digital platforms who process payments for sellers and provide service through digital platforms to adhere to this rule. They are allowed to opt out of providing a 1099-MISC, unless a worker has either garnered $20,000 in payments or has made 200 transactions on their platform.
However, just because a company isn’t required to provide a worker with documentation showing their income, doesn’t mean that the worker is allowed to forego paying taxes. This means that you should be tracking your income throughout the year to ensure that you account for all income on your taxes, even if you are not provided with a MISC-1099.
Paying Quarterly Taxes as a Freelancer
As freelancers, we often have to estimate our own taxes and make quarterly payments to the government. If you do not pay quarterly taxes, you will have to pay a year’s worth during tax season. Not to mention, you may also have to pay a penalty for not filing quarterly.
The burden of keeping up with quarterly taxes falls on the freelancer, not the company with which they work. Remember, as freelancers, we aren’t employees per se, but contract workers.
I experienced this newfound responsibility firsthand after becoming a freelancer almost a decade ago. My first year as a freelance writer, owing the government didn’t come back to bite me as my income wasn’t that significant. By the second year, when tax season came around, I was in for a rude awakening. Take my advice, and pay your quarterly taxes! It makes life so much easier.
As freelancers, we don’t usually get a W-2 like we did when we were traditionally employed. Instead, we obtain a 1099-MISC form and are expected to pay quarterly estimated taxes. This changes the tax game significantly and can be a bit problematic if you aren’t prepared for what’s coming.
How to File Taxes as a Freelance Writer
If you want to survive tax season with your sanity intact, you’ll need to learn how to file taxes as a freelance writer. Below, I’ve put together a list of some of the most important things you need to know before filing your taxes this April.
Who has to file a 1099-MISC?
According to federal tax law, all companies have to provide workers who india cell phone number list earn over $600 through their organization with a 1099-MISC form at the end of the calendar year.
However, some digital platforms differ a bit. According to Caroline Bruckner, who is the director of the Kogod Tax Policy Center, digital platforms work a little differently. Tax rules do not require digital platforms who process payments for sellers and provide service through digital platforms to adhere to this rule. They are allowed to opt out of providing a 1099-MISC, unless a worker has either garnered $20,000 in payments or has made 200 transactions on their platform.
However, just because a company isn’t required to provide a worker with documentation showing their income, doesn’t mean that the worker is allowed to forego paying taxes. This means that you should be tracking your income throughout the year to ensure that you account for all income on your taxes, even if you are not provided with a MISC-1099.
Paying Quarterly Taxes as a Freelancer
As freelancers, we often have to estimate our own taxes and make quarterly payments to the government. If you do not pay quarterly taxes, you will have to pay a year’s worth during tax season. Not to mention, you may also have to pay a penalty for not filing quarterly.
The burden of keeping up with quarterly taxes falls on the freelancer, not the company with which they work. Remember, as freelancers, we aren’t employees per se, but contract workers.
I experienced this newfound responsibility firsthand after becoming a freelancer almost a decade ago. My first year as a freelance writer, owing the government didn’t come back to bite me as my income wasn’t that significant. By the second year, when tax season came around, I was in for a rude awakening. Take my advice, and pay your quarterly taxes! It makes life so much easier.