Keeping your personal and business lives separate is important in many aspects of freelancing, including your finances.
In many peoples’ personal financial world, the method is spend and forget. When you’re running a business, however, it pays to spend and remember. Keeping track of your spending can help you spend wiser and even save money. Any money you spend on your business can be deducted at the end of the year on your taxes. Basically this subtracts the amount you spent on the business from your taxable income and lowers your taxes some. Believe me when I
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Odds are, if you’re just starting out with your freelance business, money is tight and you definitely want to make the most of it. Budgeting can be very beneficial in helping you plan your spending.