Did you finish? Have you already been to the post awful? Here, have a cookie. And a martini.

[lagilman]

Contest the First is closed. The judges have the submissions, and will make their final determination shortly.


In the meanwhile, and to honor this traditional day of mourning known as Tax Day, I offer you the following link from Salon:

What Every Freelancer Should Know About Money. I really can't argue with anything in there, and found myself nodding (and laughing) at most.

Comments

[arouraleona.livejournal.com]

That's a great link! Most of it is good advice for ANYONE, and as someone who only works 19 hours a week because of school restrictions, and does most of it from home, the tax stuff doesn't all really apply, but the people stuff totally does. You DO go a little crazy if you don't see people and never get dressed!

[deire.livejournal.com]

Ohhhhh so want a martini. And tomorrow is the show at the Martini Room. :debates spending money on alcohol which is not after all a strict necessity and would not even be considered save for the yummy specialty martinis:

[lagilman]

Yep. I actually don't like Starbucks' coffee (except the autumn-special flavored things, which are less coffee and more dessert), but sitting there for a few hours with an iced tea is a great way to feel like you've interacted without having to actually, y'know, interact. *grin*

[fakefrenchie.livejournal.com]

The first 5 or six seem terribly obvious. How could she have been a freelancer without knowing that she should open a business account? (Of course, when I lived in the States I had separate accounts for everything: Savings, checking, christmas club, trip funds, …) How would she have kept business expenses separate from regular expenses? And why didn't she have an accountant to do her books once a year? It costs very little (at least here in France) and it saves you from having to worry.

[neutronjockey.livejournal.com]

"8. Take a shower. At least every other day. "
Hee hee, hur-hur. Ha.

"11. Do not own a coffeemaker. "

OWN a coffeemaker. A coffee roaster. And a coffee grinder. Save the 1.50 from the local cafe shop and save $360.00 a year.

[lagilman]

It seems obvious once you know it, but a lot of people don't know it -- and if you come from a 9-5 background, it's not intuitive.

I don't have separate business accounts because I'm not incorporated. I do, however, keep excellent records, and monitor my cash flow with an eye to what's going where.

Likewise, I have no need for an accountant to do my books -- my financial advisor keeps me on track in the big things, and nobody else is going to watch my small details as well as I will....

[lagilman]

It's different strokes, different folks time, I guess. If I can get work done in an afternoon at the Starbucks, plus a change of scenery and the chance to chat with my neighbors, then the price of an iced tea is well-spent, even taken a year at a time.

But then, I've already budgeted a certain amount of "stir crazy" into the finances -- impromptu lunches out, a new pair of shoes because they were pretty, etc. Call it mad money for the self-employed professional.

[infiniteviking]

Excellent article -- thanks for linking to it!

[fakefrenchie.livejournal.com]

What's the difference between an accountant and a financial advisor? *perplexed frown* My accountant advises me too.

[fakefrenchie.livejournal.com]

I should point out that I do my monthly accounts. The accountant only does the yearly report for the government, with the pro rata stuff.

[fakefrenchie.livejournal.com]

Yep, a boy after my own heart. Cheap! *VBEG*

[neutronjockey.livejournal.com]

...I didn't mention the part where I use the 360.00 to import hand-select beans from South American countries did I? :P

Not cheap. Coffee snob.

[lagilman]

At leat in the States, "Accountant" is a specific term with detailed requirerments for accredidation in most states (peggin could explain it in more detail, I suspect). An accountant can give financial advice, but traditionally handles all the financial records for an individual or company, being very hands-on. Also, there are audit accountants, and tax accountants, and etc etc.

My f.a. is part of a larger brokerage firm, and has a different kind of training (and licensing -- series 7 and so forth, yay Wall Street). He works with me to optimize my investments and balance the ever-fine line between caution and aggressive investing, but he merely advises (hence the name) -- I make all the decisions and keep the records.

Clear as mud?

[fakefrenchie.livejournal.com]

Clearer than mud. As I don't have any "investments", my accountant just keeps current with the current tax laws, does my end-of-year account summaries, and prepares my tax returns for me to send. I am fine with doing the monthly bookkeeping, but doing the pro-rata stuff would drive my math-challenged brain into a foaming frenzy.

[fakefrenchie.livejournal.com]

LOL And here I thought we were on the same wavelength. Come to think of it, maybe it's better that we aren't. It's kind of crowded here already with me, myself and I.