Taxation - we all have to do it eventually

An Honest Guide to Freelancing An honest guide to freelancing
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Transcript

Okay, now, before we start freelancing, ask yourself, do I live in this magical country, but everyone can earn money and never pay taxes? Yep, me neither. There is no such country. wherever you live, you have to pay taxes. And, as I said before, at the start, if you don't want to be surprised by the tax company, then cover yourself. Google it, talk to other freelancers, get a professional, do the paperwork and cover your taxes.

You have to know what are the regulations, what kind of taxes you have to pay for I cannot tell you exactly because you are living in one country. I live maybe the other end of the world. But get a local, get a professional and know what are your taxes. I know what are the rules I have to follow in my country. And I want to do it legally. So I don't get any surprise.

Hopefully taxation could be Have you think a lot of people say I have to pay 40% 30% 15% toxin so heavy? Yes, it is heavy, it is heavy when you are not preparing for it. Prepare for your taxation by putting aside the given percentage. From every payment you get, for example, the taxes at the end of the year at the end of the taxation use are 25% what you have to pay, then put away 25% from all the payments you get. I know it can be heavy. But this will spare you a lot of headaches because you just simply pay the taxes from the money you put aside, and you don't have to magically make more work and more money on the end of the taxation year.

I needed years to learn this. It was so heavy for me, but this is the only way to do it properly. So prepare for your tax payment. Also, most companies require that you give proper invoices, so they can reduce the amount they pay you from their taxes. That's why it's also good to be legal and do stuff legally and be covered by taxes. taxation is not a good thing for us creatives.

It can be so overwhelming and a lot of designers and freelancers it's, it just seems so much, but it is needed. So get out there and learn what are the rules for you and leave accordingly and put aside the money that you need to pay your taxes.

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