How to File Your Taxes As a Freelance Writer

So you got your first freelance paycheck for that FOB piece in Woman’s Day. Awesome, right? Well, yes, but remember that the lump sum you were paid is hardly tax free. You will have to pay Uncle Sam back at some point and if you’re unprepared, it could hurt your wallet more than you think.

Filing taxes can be a confusing endeavor all by itself, but when you’re a freelance writer, you also have to contend with the self-employment tax, applicable tax forms and, of course, deduction tracking.