Posts in Money Monday
Money Monday: 1 Do and 2 Don'ts for Writers Paying Estimated Quarterly Taxes

In last week's Money Monday, you learned that the four estimated quarterly tax payment deadlines are in April, June, September, and January each year. 

Considering the fact that it's July and two estimated tax deadlines have already passed this year, I thought it was only right to follow up with an article about what you should do if you miss a estimated quarterly tax payment deadline. 

Here are 1 do and 2 don'ts to follow when it comes to catching up on missed estimated taxes.

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Money Monday: What are Estimated Quarterly Taxes? Why Should I Pay Them?

Estimated taxes are an important part of life for self-employed writers.

Paid quarterly in the United States, they allow anyone who makes his or her own income to pay the IRS what they anticipate owing in advance of their annual tax return. 

Paying the IRS in advance may sound unattractive to you, but not doing so can be worse. At the least, by paying an anticipated income tax, your tax burden will be lessened come April.

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Money Monday: Hiring an Accountant Can Benefit You as a Writer

When you start making income as a writer, there’s good news and there’s bad news.

The good news is: you’re getting paid to write! Congrats! This is a dream come true for so many people. Take a moment to relish that thought before moving to the next paragraph.

The bad news is: if you’re making income as a writer, then your tax return may not be as simple as filing a 1040-EZ anymore.

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Money Monday: Adapting Your Budget to Fit a Solopreneur Lifestyle + FREE Expense Tracking Template

Last week, we discussed standard budgeting, using the 50/20/30 Rule as a guideline to create your own budget tracking spreadsheet.

But what if you don’t make steady money? What if you’re a freelance writer who is paid by the word, a solopreneur, or an individual who otherwise inhabits the gig economy?

Then read on. This blog post is for you.

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Money Monday: The 50/20/30 Rule is Your Budgeting Secret Weapon

To be financially literate, one must first know how to build a budget.

In my experience, “budget" is one of those words that fills people with dread. They associate it with being broke, being limited, when they should keep in mind that even billionaires have a budget. (Well, at least the responsible ones.)

One way to make the hard numbers easy is the 50/20/30 Rule.

 

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