The Minimum Freelancers Need To Earn To File Income Taxes: http://www.freelancetaxation.com/the-minimum-freelancers-need-to-earn-in-order-to-have-to-file-income-taxes
FreelanceTaxation’s site offers a complete listing of information concerning income taxes from a wide range of freelance workers. The process of taxation on freelance workers is an unfortunate one to say the least. This can be seen by the government’s requirement for filing taxes based off of yearly earnings. For a person who is single, employed, and under the age of 65, $10,300 is the minimum amount of gross income required in order to file income taxes. However, for freelancer workers, the same number is $400. Luckily there are sites like FreelanceTaxation that make this process a lot more effectively understood by a mass audience.
Susan Lee, the mastermind behind FreelanceTaxation, is a Certified Financial Planner who has worked to prepare taxes for artists and freelancers in New York City for over 20 years now. Her site includes information regarding managing taxes, deductible expenses, managing finances, and useful resources for freelancers. Perhaps the most useful of these informational sections is the one dedicated to listing the expenses that are eligible for deduction from taxes in freelance work. The section includes lists of deductible expenses for freelancers, artists, designers, editors, musicians, photographers, psychotherapists, and writers. This information is immensely helpful as it offers each profession an inclusive list of the expenses they can expect to have deducted at the end of the year. This is something that freelance workers anticipate greatly as their tax rates are roughly double the amount of normal working citizens.