Welcome to The Loaf - making money & business more approachable for self-employed creatives & freelancers
I know this is relatively niche, but a lot of the article applies to anyone who's self-employed.
If you take a few minutes to understand the basics, I promise that taxes (and personal finance in general) will make a lot more sense.
There are several visuals throughout the post, such as:
A few key points of the article:
• Knowing what expenses you can write off
• Understanding YouTube's tax requirements
• How self-employed taxes work
• Tax forms you should get from YouTube
• How to estimate taxes on YouTube income
Read the full article (and get access to a free tax calculator)
Friendly money & business reminders for self-employed creatives
✅ Review January's spending
Why? Part of building a healthy relationship with your money is regularly checking in on it. Take 15 minutes this week to do one of two things:
1) If you already use an app to track your spending - like YNAB or RocketMoney - go in and look at your income and expenses from last month. Afterwards, ask yourself if your spending & savings rate aligned with where you want to be financially.
2) If you don't use a tool to track your spending, I highly recommend RocketMoney. It feels like it was built by Apple and I wrote a review of my experience & how I use it here. It keeps track of your income, expenses, subscriptions, net worth, and more. Set it up, connect your accounts, and let it start tracking.
Bonus - If you have business banks, set aside 15 minutes to categorize January's transactions in your accounting software. If you keep it up-to-date, it never becomes unmanageable.
✅ Create a "wins" folder
Why? It's hard to remember the accomplishments and kind feedback when you're constantly working
• Inspired by Jerine Nicole, I created a simple folder that I keep screenshots & notes to remember the good things that have happened along the journey - it's helped tremendously:
💰 A small business owner's guide to understanding cash flow
👀 5 ways to overcome perfectionism
🎥 Watch: An interesting story about the history of fonts
✍🏼 Freelance Finds: When does a freelancer need business insurance?
Thanks for reading 🖤