If you have started to freelance on the side of your regular job, and you have started to earn a lot of money, it's time to start figuring out how you're going to claim the money and what you could do with it. If you think that your freelancing side work could be your retirement income, or that it could otherwise change your financial plans significantly, you have to make sure you're being responsible with the money. Here are a few services you want to look into for help.
Have you been claiming your income? If not, you want to start so you don't get in any legal trouble. If you are just freelancing, you may not need a business tax identification number, and instead you'll just claim the money with your social security number. Meet with a tax professional to find out how much you should put away for end of the year taxes, to find out what you can claim or write off, and to have your taxes professionally prepared.
If you start saving and investing the side money that you're making now, you can end up retiring early or living a different type of lifestyle later on. Meet with a financial planner to find out what you can do with the extra money that you're making and how you can get the most on your investment when you need it later in life.
Free or low-cost online marketing help to increase your side business is a great way to make more money. You should be able to get some help setting up social media pages or a website so you can make more money, and you'll get the money back that you spend on marketing with the jobs that you get paid for. Local marketing may also be helpful.
If you started doing some side work as a freelancer and you quickly realized that you could make a lot of money, and you want to continue bringing in the second income that you started, you want to meet with the right professionals to make sure that you do everything legally. Take the money that you're going to earn over time and be smart with it so you can secure your financial future and retirement, and get advertising help if needed to keep the side business you've started going and making money.