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For the Self-Employed, a Year-Round System Will Smooth Tax Time (The New York Times)

4/3/2008 8:55:00 PM

In tough economic times, as workers lose full-time jobs and take longer to find new jobs, more and more people are finding themselves self-employed.

In tough economic times, as workers lose full-time jobs and take longer to find new jobs, more and more people are finding themselves self-employed. And with April 15 approaching, they are about to learn an important business lesson — keeping track of income and expenses is part of the job, too.

Staying on top of one’s tax obligations “is as important, if not more important, than the skill you’re trying to sell,” says Michelle Goodman, who has been a freelance writer in Seattle for 14 years and is the author of “My So-Called Freelance Life: How to Survive and Thrive as a Creative Professional for Hire,” to be published in September by Seal Press.

Learning about the world of 1099s — the income record that freelancers most often receive from their clients — is essential, Ms. Goodman said, no matter how confusing or tedious. “It’s part of the job, just like boring Monday meetings when you work in an office.”

 

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By Caitlin Kelly

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