How much does it cost to be a freelancer?

This is no one fixed number. It is your first job as a freelancer to write a budget and do cost research. No one else can really do it for you. You can hire an accountant to do the paper work for you if you don’t want to do that.

Overhead – housing, utilities, phone, Internet

Capital Expenses – computer, phone, printer, fax machine, industry necessary equipment like a lawn mower or truck cab, van to do contract routes

Office Expenses – paper, stamps, toner

Travel – lodging, transportation, parking

Professional Fees/Trade Fees/Licenses – Actor, Tax Preparer, Accountant, Electrician, Loan Originator, Real Estate Agent

Car/Truck- You will have to start recording your miles for each trip in a record book.

Variable Costs – Cost of producing what you plan to sell. Cost of providing a service.

Membership Fees – FlexJobs, Forex (dot) com

I have seen a list of tax form expenses that you must provide to lower your tax payment. I suggest that you look at that.

Deducting Business Expenses
Business expenses are the cost of carrying on a trade or business. These expenses are usually deductible if the business operates to make a profit. Note: If you do not carry on the activity to make a profit, you must report all of the gross income (without deductions) from the activity on Form 1040 or 1040-SR, line 21. Special limits apply to what expenses for a not-for-profit activity are deductible; for detailed information, refer to Publication 535, Business Expenses . What Can I Deduct? To be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your trade or business. A necessary expense is one that is helpful and appropriate for your trade or business. An expense does not have to be indispensable to be considered necessary. It is important to separate business expenses from the following expenses: Cost of Goods Sold If your business manufactures products or purchases them for resale, you generally must value inventory at the beginning and end of each tax year to determine your cost of goods sold unless you are a small business taxpayer (defined below). Some of your expenses may be included in figuring the cost of goods sold. The cost of goods sold is deducted from your gross receipts to figure your gross profit for the year. If you include an expense in the cost of goods sold, you cannot deduct it again as a business expense. The following are types of expenses that go into figuring the cost of goods sold. The cost of products or raw materials, including freight Storage Direct labor costs (including contributions to pensions or annuity plans) for workers who produce the products Factory overhead Under the uniform capitalization rules, you must capitalize the direct costs and part of the indirect costs for certain production or resale activities unless you are a small business taxpayer (defined below). Indirect costs include rent, interest, taxes, storage, purchasing, processing, repackaging, handling, and administrative costs. Small business taxpayer . Effective for tax years beginning after 12/31/2017, a small business taxpayer is a taxpayer that (a) has average annual gross receipts of $25 million or less for the 3 prior tax years and (b) is not a tax shelter (as defined in section 448(d)(3)). See section 471(c) and section 263A(i). If you are small business taxpayer, you can adopt or change your accounting method to account for inventories (i) in the same manner as materials and supplies that are non-incidental, or (ii) conform to your treatment of inventories in an applicable financial statement (as defined in section 451(b)(3)), or if the taxpayer does not have an applicable financial statement, the method of accounting used in the taxpayers books and records prepared in accordance with the taxpayer’s accounting procedures. See section 471(c)(1). For additional information, refer to the chapter on Cost of Goods Sold, Publication 334, Tax Guide for Small Businesses

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