Episode 019 – Accounting 101 for Freelancers

Episode 019 – Accounting 101 for Freelancers
Cinematographer's Insight

 
 
00:00 / 00:28:45
 
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Show Overview

This is a unique episode and instead of sitting down with a professional in the field, I talk with you about accounting as a freelancer. This is how I handle my accounting and how you can save money in the process. My goal for this is to help you avoid the mistakes I’ve made and save you thousands of dollars in the process.

Being the first one of it’s kind for Cinematographer’s Insight, I am very curious to hear your thoughts on this. Do you like it? Want more? Something I can be doing better? Please let me know! Comment here, email me or DM me on Instagram.

Recap:

Quick overview of the episode:

  1. Get an accountant – or at least talk with a few and see how they can help you
  2. Get software! I can’t emphasize how much this will help you in years to come.
    1. QuickBooks Online (my preferred software)
    2. Freshbooks
    3. Wave
  3. Form an LLC or S-Corp AFTER TALKING TO AN ACCOUNTANT to get yourself the maximum refund each year
  4. Once you form your business in the way that fits you best, make your plan for paying taxes throughout the year.
  5. Be smart with business purchases. Don’t get fooled that this will save you tons of money for year end taxes
  6. Open a FREE retirement account. In my current situation I chose a Roth IRA with an Index Fund.
  7. Open a separate business account
  8. Get a business credit card

Links Mentioned:

QuickBooks
Freshbooks
Wave App
Fidelity

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