Taxes for Freelancers - Part II

Welcome back! 

As I mentioned in my last post, SD and I are by no means tax experts, but we've learned a thing or two about filing taxes as freelancers that I thought might be worth sharing. 

This series does not replace talking to a professional - if you're brand new to this, I highly recommend that as your first step! - but it's my hope that these resources and suggestions can serve as a broad introduction to doing your own taxes and keeping good records throughout the year.

Taxes are complicated and they can take up a lot of time, if you're doing things yourself. 

Want to know our secret for staying sane? We start the process in January. 

We work on some of the tasks below on our own and then sit down a few times over the course of February/March to go through the software together (by the way, we use H&R Block).

Here are a few things you can do to get a head start on your taxes:

1. Gather year-end statements and tax documents. 

Some of these come in the mail, others are all online.  Take a few minutes to save PDF versions to a folder on your computer and/or gather all hard copy statements into one place.  Here's a starting list:

• State tax refund(s) from last year

• W-2(s)

• 1099(s) (contracting work, interest, dividends/capital gains)

• 1098-t (if you're a student)

• Student loan statements (you can deduct any interest you paid last year)

• Your self-employment income from last year

• IRA/Roth IRA investment totals

• Health insurance premiums (deductible if you're self-employed)

2. Pull receipts and expense records and calculate totals. 

That professional conference you attended last summer?  Deductible.  That lunch you had with someone you mentor (professionally)?  Deductible.  I sort all of my business-related receipts in an accordion folder during the year; in January, I spend some time calculating totals.  Here are a few categories to help get you started:

• Business Travel (air travel, rental car, tolls, hotel, internet charges when traveling)

• Business Meals (usually, you can write off 50% of this total)

• Business-Related Purchases (books, music scores, equipment)

• Business Expenses (website hosting, office supplies, conference registration, dues)

3. Add up miles driven for business. 

Driving to and from a gig?  Keep track of your mileage!  Any time you drive to "work" (a place that doesn't send you a W-2), you can deduct that mileage using the federal mileage rate. 

It's best if you can keep something in your car that will prompt you to write down starting and ending mileage for each trip, but if that doesn't work for you, keep track of the dates and destinations and calculate the mileage later.  Also, figure out the total number of miles you drove last year (they'll ask for this number, too).

4. Make a list of any charitable donations. 

Whether you donate a bag of clothes to Salvation Army or make an annual donation to your Alma Mater, you can report all charitable giving on your taxes.

5. If you paid estimated tax last year, look up these payment amounts (federal and state). 

If you make more than a few hundred dollars a year in your freelance work, it's a good idea to make estimated tax payments (federal and state) each quarter (April 15, June 15, September 15, and January 15), since no one is withholding money from your paycheck.  You can do this online pretty easily. 

A good rule of thumb is to pay 5% of your quarterly earnings to your state and 20% to federal. 

When you file your taxes, they'll ask how much you paid each quarter, so have these amounts ready.  If you underpaid during the year, you have to pay a fine; if you overpaid during the year, you get a refund (yay!).

Hope this little glimpse into our process is helpful!  More ideas, strategies, and helpful hints coming soon in Part III!

Previously:
Taxes for Freelancers - Part I

Winter Newsletter

It's been a busy first month of 2014, but it's already full of so many good things.  I am excited for the year ahead!  If you're on my email list, you'll be getting a fun email from me later today, but in the meantime, here are a few highlights:

I am presenting a session called, "Meet the Community: Presenting Music in Meaningful Ways" at the College Music Society Southern/Mid-Atlantic Joint Regional conference in Knoxville, TN later this week (I know, I know - right in the middle of Winter Storm Pax!). I've already had one flight cancelled and re-booked - hoping that's the extent of the travel adventure! Anyway, Southern friends, let me know if you'll be there!

I will be teaching a similar workshop at Music and Worship Arts Week at Lake Junaluska (NC) in June and am looking forward to doing some accompanying, as well!  Read more about Music and Worship Arts Week here and here.

I am thrilled to announce that my article, "Developing Creative Concert Experiences for Young Children in a Community Setting" is in press with Perspectives, the journal of theEarly Childhood Music and Movement Association!

I know I posted about this last Fall, but for those of you who may have missed it: I was honored to have my writing featured on the Clavier Companion website!  Read my essay, "Exploring Ideas for Effective Teaching" here.

Most of you probably know by now that SD and I started a handbell choir in November.  I'm pleased to say that we've been invited to continue our work with the bells this Spring!  Read more about our Fall adventures here, here, and here.

Wishing you a wonderful winter and a glorious spring!

February Goals

Happy February!

I don't know about y'all, but January was a l-o-n-g month. Though a little busy at times, it was full of some really good things - I met a few really big goals, pressed "send" on a big fear, and challenged myself to step out of my comfort zone a few times. However, I had multiple projects on my plate all the time and between the early working mornings and late working nights, I got a little burnt out. This is my final semester of PhD coursework (hooray!) and I want to enjoy it instead of letting it consume me. This month, I want to set better boundaries. I want to be better at separating work from my personal life. I want to take more deep breaths. Here's to a great month!

FEBRUARY GOALS

Present my first workshop in Knoxville! Set more work boundaries Plan the first-ever "Piano Olympics" for my studio! Begin planning year-end recital (book venue, communicate with parents) Start organizing tax materials and write the next "Taxes for Freelancers" post Plan studio goals for March Schedule 60 minutes of intentional exercise per week Volunteer with RAIHN (a hospitality organization for homeless families) Start a new 7-week handbell choir session Go skiing with SD

What are your February goals?

Taxes for Freelancers - Part I

I'm excited to share this post with you today, the first in a mini series on taxes for freelancers.

I know, taxes are super fun and exciting, but as a freelancer, it's part of managing your own small business.

SD and I have been doing our own taxes for more than five years now, and, while we don't consider ourselves experts by any means, there are a few things we've learned along the way. I'll be sharing a little bit of our process in upcoming posts.

To get us started, I pulled together five helpful resources on where to begin and getting organized (always a good refresher, even if you've been doing your own taxes for a few years now!):

1. How to Do Your Taxes if You're a Freelancer
2. Tax Filing Tips for Freelancers and Bloggers
3. Tax Tips for Self-Employed Professionals, Freelancers and Contractors
4. Freelance Taxes #1: The Basics of Getting Started and Preparing Your Taxes
5. Tax Advice for Freelancers in 2014

Do you do your own taxes? What are some of the things you've learned as a freelancer?

Piano Assignment Sheets

1 / 2 / 3 / 4 / 5 / 6

*Disclosure: I get commissions for purchases made through links in this post.

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I started using weekly assignment sheets in my studio last year.

I know from experience that written assignment sheets do not work for every student, but for most of my current students, they make a big difference in organizing home practice and keeping open communication with parents.

Keeping a written record of projects, goals, and repertoire keeps all of us on the same page, even though we're only together for 30 minutes a week.

I thought it might be helpful to those of you considering using assignment sheets in your studio to have a roundup of some of the templates out there. For me, some of the key features of a weekly assignment sheet are:

• name and date (a way to personalize them for each student)

• blocks for warm-ups or technic, a few repertoire pieces, and musicianship activities

• a way to track practice time during the week

PianoPedagogy.org has a great post on using assignment sheets with several templates. In addition, Faber & Faber and Alfred have assignment books (I'm sure others do, as well). Some of these models include staff lines (for composition starters or warm-ups), the circle of fifths, keyboard legends (great for marking hand positions), and space to write messages to parents (and for parents to write messages to you!).

I used many of these models as inspiration for creating my own Studio Assignment Sheet last year. This is what I use with my students on a weekly basis.

Enjoy!

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Practice, practice, practice.

Free Resource

A printable assignment sheet for beginning and elementary-age students. Includes: practice log, technic, new and review pieces, musicianship (rhythmic review, aural skills, theory, sight reading, etc.), and creativity (e.g. make a piece that is ___ measures long and uses ___)

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New York City in Black & White

I love visiting the city at Christmas time: the lights, the tree, the hustle and bustle - I love how these pictures turned out.

We took the train in for a day between Christmas and New Year's and saw all the sights: Times Square, Rockefeller Plaza, and M&M World (naturally).

We also saw "Once" on Broadway - have you seen it? We saw the film several years ago and loved the music. The theme song is "Falling Slowly" by Glen Hansard and Marketa Irglova. Listen to it here. :-)

The show was really great. All the actors and actresses are musicians and when they weren't playing as part of the scene, they sat off to the sides as "the band."

If you have the chance, I definitely recommend the Broadway version of "Once" but a Netflix-night-in is also a good option!

Goal-Setting for 2014 - Part II

*Disclosure: I get commissions for purchases made through links in this post.

It's been a great first week of January!  I had a chance to spend some time this week really thinking about my goals for 2014 and planning for what I'd like to see happen.  Here's where I am:

Based on the things I learned in this post (I even added a few things to the list since I published it — take a look!), I decided to choose goals that are a little more broad — lifestyle ideals rather than things to attain or cross off a list.

I want to live a purposeful life this year. I want to spend my time doing things that are meaningful and add value to other people's lives. I want to be intentional about the things that get my time and attention. I want to live a life that reflects peace and joy.

So without further ado, here are my goals for 2014:

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Smarter Business

• Schedule more emails (thanks, Boomerang!)

• No checking email after dinner

• Streamline the workflow of my business

• Start a new mini blog series

• Read The $100 Startup

Better Teaching

• Less planning before lessons, more discovery in lessons

• Set monthly goals for the studio — things to focus on in each lesson

• Think of ways to send formal communication home to parents at the end of the year

• Plan a year-end recital

Professional

• Present my research at Eastman

• Finish my coursework and pass my qualifying exam

• Teach two workshops

• Find ways to add value to others through writing or mentoring

Living

• Take intentional time off on weekends (and times off of social media)

• Plan adventures and trips with SD

• Plan 90 minutes of intentional exercise per week

• Read Margin

• Write more

• Create an Artifact Uprising book for our first five years together

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January Goals

• Finish reading Entreleadership and choose a new book

• Research online invoicing and workflow organization

• Research and donate to a birthday party mission organization

• Plan studio goals for January + February

• Create presentation and materials for my first workshop!

• Set new budgets + investment plans

This is a work in progress, y'all. I may edit or add to this list as the year progresses but for now, this is where my head and my heart are. Each month, I'll be sharing a few of my more action-oriented goals, to keep me accountable, and to help bring this list into a living reality.

What are your goals for the year? Feel free to post them in the comments below or, if you blog your goals somewhere, please share the link — I'd love to read them!

Here's to a wonderful 2014!

Goal-Setting for 2014 - Part I

*Disclosure: I get commissions for purchases made through links in this post.

Happy New Year, friends!

This has been such a peaceful week for me — back home after a week of traveling, time with good friends (old and new), cooking, and yes, doing a little planning for the New Year.

I must admit that goal-setting has been a little bit more challenging for me this year than last (read more here, here, and here). 

I started off 2013 super motivated and ready to take on my ambitious goals (not that ambitious goals are a bad thing...). That lasted a few months but once summer came around, and the pace of life slowed a little bit, my action-oriented goals felt a little more like things on my ever-present to-do list. By the time fall came and school picked back up, I barely looked at my goals.

Granted, I did make progress. 

A lot of good things happened, in part as a result of setting thoughtful goals at the beginning of the year. But before I set standards and expectations for what I want to see happen in 2014, I want to make sure I spend time reflecting on the things that worked well and the things that didn't work last year.

This is how we learn, right? We try things, we experiment (like that vegetable casserole I made for dinner tonight, right, SD?), but it's only in the reflection that follows that true learning really takes place. Here's what I learned:

Things that worked:

1. Rest and space on the weekends. This made such a difference for me this year. It gave us something to look forward to each week but I also felt like my working hours were more productive.
2. Setting professional goals. I made significant progress on my degree this year, in part due to some goals I set for myself early in the year.
3. Goal-setting in January. In general, this was a great way to start the year with focus.
4. Blog calendar. I started using this free printable in November and loved it! Thanks, Em! Planning to use it again this year.
5. Monthly duty days. I first read about "duty days" here and loved the idea. Now, I use part of the day on the first Friday of each month to catch up on paying bills, depositing checks, and miscellaneous home and business to-dos.
6. Afternoons to work at home. I am such a home-body that taking time to occasionally work from home for part of a day is actually refreshing. I can't and don't really want to work from home all the time right now but every once in a while, it's a good thing.
7. Getting up on time. Yay me! We did fairly well with last year's goal. I'm not much of a morning person but my day always feels more productive when I get a lot done in the morning.

Things that didn't work:

1. Lack of monthly action steps for goals. I lost motivation over the summer when my schedule changed and it was hard to get back on track with my goals come fall.
2. Letting distractions in while working. Especially checking email and social media.
3. Complaining. Especially complaining to people who couldn't help! This is fruitless.
4. Writing on two separate blogs. I decided to do all of my writing on this blog in the coming year.
5. Comparing myself to others. As Lara said, "comparison isn't just the thief of joy, it's the thief of everything."
6. Choosing goals that became more things to do. Trying to come up with a better way to choose and write goals that are meaningful, things that center and focus my life rather than adding to my schedule.
7. Consistent exercise schedule. It's always the first thing to go when things get busy. I walk to school most days (a mile each way) but I want to find a more consistent time to exercise in addition to that a few times per week.

Good things that happened:

1. This post pretty much sums it up but here are a few others:
2. Started teaching piano at Harley
3. Traveled to new places with SD
4. Made time for 30+ runs in 9 months
5. Had my writing featured on the Clavier Companion website
6. Received two grants
7. Wrote a hymn arrangement
8. Recorded two songs for SD
9. Made time for writing (outside of academic writing - blogs, poetry)
10. Read four books: The Go-Giver, 7, The 4-Hour Work-Week, and EntreLeadership (almost finished!)
11. Got all of my inboxes to zero
12. Purged negativity from my social media feeds
13. Started volunteering with RAIHN, a hospitality organization for homeless families
14. Paid off one of my student loans ahead of schedule
15. Invested more in our Roth IRAs than in past years

I really have so much to be grateful for. 2013 was a good year, a fun year. I am ever grateful for God's "immortal love, forever full" (one of my favorite hymn texts) and His grace that covers all. I am so grateful to be married to SD and for the blessing of our marriage. I am humbled by the people I work with at Eastman and am honored to be part of such a community.

Y'all, I love our little neighborhood: our daily walks (when it's not 5 degrees outside), cozy restaurants with waitresses that know what we want before we order, and happy hours on the roof overlooking the city.

I am grateful for people who truly listen and love extravagantly. I am grateful for opportunities to make music and share it with others in meaningful ways. I am humbled by the ways God provides for us. I love our everyday adventures and the joy that we find in the little things.

I am thankful for intentional rest and quiet days to be home. I am grateful for opportunities to do new things with SD (like bowling!). I am grateful for the promise that each new day holds because of His great faithfulness.

2014 is going to be a good year.