Blog to support the book "Creatively Self-Employed: How Writers and Artists Deal with Career Ups and Downs" by Kristen Fischer

Sunday, November 25, 2007

My cool writer friend Deb posted this on her blog and I wanted to share it with you:

9 Things Freelancers Should Do Before the End of the Year

I know, it’s only November, but time goes by quick. As we approach the end of the year, there are a few things I like to do to start the new year fresh and hassle-free. Though I don’t necessarily send in my taxes at the very beginning of January, I like to have all of my accounts in order so I can close out the old year and get on with the new. I also like to file away old clients to make room for new,and assess my current financial situation. Here are a few things I do before the end of the year. Perhaps they’ll help you in making a positive start to 2008.

  1. Go over your books – Make sure all your invoices are paid up before December 31st.
  2. Gather all of your receipts – Organize all of your receipts, especially those considered business expenses.
  3. Compare your income vs. hours worked – Are you making a profit? Does the end justify the means? If not, adjust your rate and announce new rates beginning in January.
  4. Go over your client list – If business is keeping you too busy determine whether or not you need to drop any of your lower paying or more difficult clients.
  5. Donate old office equipment – If you have computers, cell phones, and other office equipment gathering dust because they’ve been replaced, donate them as a tax write-off to your favorite charity.

Read more at Deb's blog!

What's the most important thing you do at the end of the year for your business?

link | posted by Kristen at 3:02 PM |

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