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Tag: freelancer

  • Don’t be afraid to ask for an advance: Suzanne Bowness on budgeting for freelancers – MoneySense

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    Since 2002, Sue has provided content creation, editing, and consulting services to corporate clients through her business CodeWord Communications. Here, she talks about her formative experiences along the road to becoming a self-employment expert—and the right way to use debt.

    Who are your money/finance/investing heroes?

    As a freelance writer, I had an early gig reviewing business books, several of which were financial. That gave me insight into the fact that people actually wrote books about money that helped demystify elements like the stock market and other terms. I wish money management had been taught in high school; I would have preferred that class over other math that I never use as an adult. Suze Orman was one of my favourites from those early reads for her practical advice and encouragement that anyone could understand and manage their finances.

    How do you like to spend your free time?

    I like walking—both in nature and cities—travelling, and seeing new places. I like reading and listening to podcasts and audio books. I also like writing fiction and poetry, although it’s sometimes exhausting to make time for creative writing after a full day as a professional writer.  

    If money were no object, what would you be doing right now?

    I’ve always wanted to be a writer, but when I became an adult, I realized that I also needed to make a living. So I started working as a journalist and content writer. While I enjoy any kind of writing, I still like writing fiction, so I’d probably flip the time so that I’m writing my creative work during the day instead of after hours.

    What was your earliest memory about money?

    My earliest money memory was being given a dollar allowance from my parents for chores. (I was dusting and cleaning bathrooms; my younger brother was vacuuming. To this day these are our favourite chores. I love the quick fix of a good bathroom polish.) We would walk to our local depanneur in the Montreal suburbs and my brother would buy a big item, like a can of Coke or a chocolate bar, and I would stuff as much penny candy as I could into a little brown bag to last the week.

    I think math became important for that transaction as I made the money stretch as far as possible (was it better to buy five gummy bears at two cents each or a 10-cent lollipop?). I also learned that different people want and value different things, as I never brought my brother over to my way of thinking nor converted to his.

    What’s the first thing you remember buying with your own money?

    Besides penny candy, I think a cassette tape of the soundtrack to the movie Cocktail. Also books from Scholastic.

    What was your first job?

    After babysitting, my first real job was as a cashier at K-mart, where I also worked in the garden centre when I was 15. I still remember the stress when your cash register tape jammed, and I can still tell the difference between impatiens and petunias. 

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    I’m not sure what I did with my first paycheque, although probably saved some for a band camp later that summer, which is when I had to quit because my manager wouldn’t give me the week off. 

    What was the biggest money lesson you learned as an adult? What would you do differently today? 

    Probably saving earlier. I recall a bank having an ad in the subway about the difference in results between the person who started saving at 23 years old and the person who started saving at 30. The problem is that I think I saw that ad at 28 so I felt already behind. Also, I hated that nerd who had the wherewithal to start saving at 23. 

    A related lesson as a freelancer was to save my money for income taxes and HST in a separate place so you have it when it comes to tax time. It’s very easy to spend if it isn’t in a separate account.

    What’s the best money advice you’ve ever received?

    Paying off debt with the highest interest rates first (i.e. credit cards). But also, I learned myself the advantage of having credit available (and saying yes to a lower-interest line of credit) as a way to balance out my freelance business since mostly I’m paid 30 days after I submit an invoice. I’ve also learned to proactively ask for a percentage up front if I’m working on a larger project—say 30% to 50%.

    What’s the worst money advice you’ve ever received?

    I haven’t received this advice directly, but I find all-or-nothing money advice annoying. Especially the one about how much you can save by avoiding fancy coffees. I’m not a fancy coffee regular but if that’s the spend that earns you an hour of work at a table in a coffee shop or picks up your day, then it’s fine. Treats are okay in moderation and money is also for buying a nice life today, not just saving for the future.

    Would you rather receive a large sum of money all at once or a smaller amount of money every week/month for life?

    As a freelancer, I regularly receive large sums of money at the middle and end of projects and then nothing for a few weeks, so I am curious what it would be like to have regular deposit every week. 

    What do you think is the most underrated financial advice, tip, or strategy?

    Focusing individually on whether each purchase is a good idea. Just because something fits in your budget doesn’t mean it’s a reasonable splurge. I don’t think I’ve ever paid over $100 for a handbag, so if I see one priced at $500, that’s just not for me. Also knowing the current cost of items that you buy regularly so you’re not tricked by marketing or “sales” to think you’re getting a great deal. I know when the toilet paper really is a good sale.

    What is the biggest misconception people have about growing money?

    That there’s a magic age past which it’s too late. I started saving more in my 30s and I think it’s never too late. It just means I have a lot more room in my RRSP to continue filling up. 

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    MoneySense Editors

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  • Is it better to be an employee or self-employed? – MoneySense

    Is it better to be an employee or self-employed? – MoneySense

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    What factors determine employment status?

    The Canada Revenue Agency (CRA) uses an important distinction when evaluating a relationship between a worker and a business: the difference is between a contract for “services” and a “contract of service.”

    What is a contract for services?

    A contract for services is a business relationship, like when you hire a contractor to renovate your bathroom or a snow removal company to clear your driveway. Neither the general contractor nor the snowplow driver is your employee. They do not work for you. They provide work for you.

    What is a contract of services?

    If you own a restaurant and hire a cook, or you own a store and hire a cashier, this is a contract of service. You set the shifts and the terms of employment, so it’s a different type of relationship.

    How to determine if you are employed or self employed

    When in doubt about your employment status, the CRA considers six primary factors, Elza.

    1. Control: When the payer dictates when and how work is done, it’s more likely that the person being paid is an employee.
    2. Tools and equipment: An employer is more likely to provide equipment and tools to an employee compared to a self-employed contractor who provides their own.
    3. Subcontracting work or hiring assistants: An employee is unlikely to be permitted to subcontract their work or hire others, whereas a self-employed person can make decisions like this without permission.
    4. Financial risk: Employees typically do not have to pay for expenses to earn their income—or they are reimbursed when they do—whereas a self-employed person is responsible for their own expenses and business profitability.
    5. Responsibility for investment and management: A worker generally does not have to invest their own capital to earn their living, and they don’t typically have a discernible business presence.
    6. Opportunity for profit: An employee’s income may vary depending on their hours, bonus or commissions, but a worker cannot generally control their proceeds and expenses nor incur a loss, like a self-employed person.

    It’s also more likely that you’re an employee if you’re only providing services to a single payer. Someone who is self-employed tends to have multiple clients or customers.

    Should you incorporate if you’re self-employed?

    If you’re self-employed and run a business that has a significant amount of risk, Elza, you may want to consider incorporating. This can limit your liability.

    If you have business partners, incorporation can also be a more efficient way to involve shareholders or raise capital.

    One of the main tax advantages of incorporating is the ability to retain savings within the corporation. You may benefit from a corporate small business tax rate that’s around 40% lower than the top personal tax rate.

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    Jason Heath, CFP

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  • Do I need a GST or HST number? – MoneySense

    Do I need a GST or HST number? – MoneySense

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    Why registering for GST/HST pays off

    The other excellent reason to charge GST and HST is that it pays off in dollars and cents.

    One of the great advantages of being self-employed is that when you charge these taxes, you only give the government what you charged minus the GST or HST you pay on your deductible business expenses. 

    For freelance writers like us, this is the sales tax we pay on printer paper, internet service, professional development workshops and more. The government lets us in essence deduct the sales taxes we pay on deductible expenses from the sales taxes we charge our clients. We then pocket the difference. The amount we save each year is roughly enough to pay for a trip to Europe.

    HST quick method or detailed method?

    The good news is that we don’t have to add up every bit of GST and sales tax we pay on our expenses to take advantage of this. That’s because we use the “quick method” for our calculations. 

    The government gives you two choices for paying GST and PST/HST instalments: the “detailed method” and the “quick method.” With the quick method, you simply pay 3.6% of the 5% GST you collect. In the case of provinces with HST, it’s a percentage of the HST: so, in Ontario, you only pay 8.8% to the government from the 13% you collect. 

    Image by rawpixel.com on Freepik

    The advantage of the quick method is that it’s much less work. You must only add up how much sales tax you charge your clients or customers. My spouse and I use the quick method and find it easy to do our calculations with an Excel spreadsheet. There is no need to keep a detailed account of the sales tax you pay on all the pens, paper, printer cartridges and more you claim as deductible expenses. 

    There’s another bonus to using the quick method. Governments offer a credit of an additional 1% on the first $30,000 of gross revenue. So, for example, in Ontario you pay 7.8% (instead of 8.8%) of the 13% HST you collect for that amount and pocket the other 5.2%. However, if you use the quick method, you must add the credit to your total revenue when you file your income tax return.

    The detailed method involves more work, since you must add up the GST and PST/HST you paid on each of your expenses and subtract it from the taxes you collect to determine the amount you have to pay. But this calculation method is useful if your taxable expenses are proportionately high, amounting to roughly more than 50% of your income. The advantage of the detailed method is that you don’t have to add the amount you retain to your revenue when you file your income tax return. 

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    Julie Barlow

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  • We’re hiring! Join Phoenix New Times as news editor or news reporter

    We’re hiring! Join Phoenix New Times as news editor or news reporter

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    Phoenix New Times is looking to hire a news editor and news reporter to add to our scrappy editorial team.

    We want to add a versatile news reporter to tell important, timely and engaging stories about the Valley and a news editor to lead our team of reporters and freelancers. Think you’ve got the journalism chops for either job? The full details on what we’re looking for are below.

    Come join an editorial team that’s been telling the stories of a diverse and booming region since 1970.

    New Times news editor: About the job

    We’re looking for a versatile news editor with excellent news sense and strong editing chops. You’ll lead our team of two reporters and freelancers to tell important, hard-hitting, timely and engaging stories.

    Key responsibilities

    • Manage two full-time news reporters, along with freelance reporters and photographers, to produce a range of stories. Our stories include breaking news and trending topics that need to be written quickly to enterprise, investigative or feature stories that could take a week or more to report. You’ll also oversee the creation of guides and explainers about local and regional events and issues.
    • Efficiently edit stories for structure, line editing and copy editing so they read beautifully, clearly and concisely and are free of factual and grammatical errors and typos. Ensure that care has been given to the best possible use of headlines, photography and art. Make sure that stories adhere to our style, SEO best practices and social media strategies.
    • Collaborate with the editor-in-chief on planning news coverage and the daily story budget.
    • Manage the editorial workflow for the news vertical, assigning stories to reporters and freelancers, monitoring deadlines. ensuring a regular cadence of story output and balance, and meeting goals for volume and traffic.
    • Write news stories as needed.
    • Meet with reporters on a weekly basis. Maintain regular contact with freelancers and recruit new ones.
    • Coach reporters and freelancers through any part of the pitching, reporting, writing, editing or production process. Deliver feedback to them on their work.
    • Collaborate with other parts of the newsroom, our social media and product teams, and occasionally with editors in our newsrooms in Denver, Dallas and Miami.
    • Build broad and diverse relationships so that sources, story ideas, research and reporting reflect the diverse communities of the Valley.
    • Participate in our annual Best of Phoenix issue and other projects during the year.

    Who you are

    • A journalist with 5 plus years in a newsroom with at least 3 years of full-time experience managing journalists and editing breaking, daily and enterprise stories.
    • A working knowledge of — or eagerness to immerse yourself in — the character, people, politics and culture of Phoenix and the Valley.
    • A curious person interested in learning about and staying current on topics related to our coverage areas, including politics, public health, criminal justice, cannabis, government, labor and the environment.
    • A journalist with a track record of crafting breaking stories on deadline with crisp writing and the ability to tell stories about people impacted by what you’re covering.
    • Strong interpersonal and communication skills, both written and verbal.
    • A highly-organized, resourceful and proactive self-starter committed to accuracy and meeting deadlines.
    • Experience with open records requests.
    • Fluency in Spanish is a plus, as is experience in a marginalized community.

    Benefits

    • Compensation range of $65,000 to $75,000.
    • 401(k) with company match.
    • Medical, dental, vision and life insurance.
    • 10 paid holidays, 14 days of paid time off, 5 paid sick days per year.
    • Hybrid work policy based in our central Phoenix office.

    New Times news reporter: About the job

    We’re looking to hire a full-time news reporter that can craft stories ranging from breaking news and trending topics that need to be written quickly to enterprise, investigative or feature stories that could take a week or more to report. You’ll also produce helpful guides to local and regional events and issues.

    We value ambitious reporting, well-crafted prose, an engaging voice and savvy use of social media.

    Key responsibilities

    • Your stories will range from breaking news and trending topics that need to be written quickly to enterprise, investigative or feature stories that could take a week or more to report. You’ll also produce helpful guides to local and regional events and issues.
    • Work with the newsroom to tell these stories in a variety of formats, including traditional articles online and in our weekly print issue, videos, photo essays and through social media.
    • Use social media to find trending topics to cover, discover sources and promote your work.
    • Attend public meetings, town halls, political rallies and other events outside the office to find sources, stories and people impacted by the decisions made by elected officials and government agencies. The position sometimes requires evening and weekend work.
    • Collaborate with other parts of the newsroom, our social media and product teams, and occasionally with reporters and editors in our newsrooms in Denver, Dallas and Miami.
    • Build broad and diverse relationships so that sources, story ideas, research and reporting reflect the diverse communities of the Valley.
    • Be committed to accuracy and meeting deadlines.
    • Participate in our annual Best of Phoenix issue and other projects during the year.

    Who you are

    • A journalist with a track record of crafting breaking stories on deadline with crisp writing and the ability to tell stories about people impacted by what you’re covering.
    • Demonstrable writing skills with the ability to report complex issues with simplified, accessible language.
    • Experience in reporting across a variety of topics, such as politics, public health, criminal justice, cannabis, government, labor and the environment.
    • Strong interpersonal and communication skills, both written and verbal.
    • A highly-organized, resourceful and proactive self-starter.
    • Experience with open records requests.
    • Fluency in Spanish is a plus, as is experience in a marginalized community.

    Benefits

    • Compensation range of $42,000 to $50,000, depending on experience.
    • 401(k) with company match.
    • Medical, dental, vision and life insurance.
    • 10 paid holidays, 14 days of paid time off, 5 paid sick days per year.
    • Hybrid work policy based in our central Phoenix office.
    • This is a union position.

    How to apply for either position

    We’re committed to building an inclusive newsroom that reflects the people and communities we serve across the Valley. We encourage members of underrepresented communities to apply, including women, people of color, LGBTQ+ people, and people with disabilities.

    News editor

    Email a cover letter, resume and links for up to three stories you reported or edited, along with a few sentences explaining the backstory of each piece and your role, to [email protected]. Please put News Editor in the subject line.

    News reporter

    Email a cover letter, resume and links to three to five clips that show your skills and range to [email protected]. Please put News Reporter in the subject line.



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    Matt Hennie

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  • Hubstaff’s Global Freelancing Study Reveals Groundbreaking Data on Freelancing Industry’s Top 1%

    Hubstaff’s Global Freelancing Study Reveals Groundbreaking Data on Freelancing Industry’s Top 1%

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    Comprehensive study focuses on finding better clients, setting higher rates, and landing more gigs from 15000 freelancers

    Press Release
    –


    updated: Jul 11, 2017


    INDIANAPOLIS, Ind., July 11, 2017 (Newswire.com)
    –
     Hubstaff just released their first annual freelancing trends study. The study set out to provide insightful data on pay rates, work experiences, factors that help freelancers land gigs, signs a client relationship isn’t going to work out, and much more. Data was collected via Hubstaff Talent’s network of over 20,000 freelancers as well as interviews and surveys from more than 300 top-rated freelancers amongst nearly a dozen different industries.

    Most notable insights from the study include:

    “I’ve seen and read multiple freelance studies that are out there. Most of the studies talk about freelancing from a more higher-level perspective like where the industry is heading, how much money this industry contributes to the economy, etc. That’s fluff to me, as a freelancer. I wanted to get actionable insights on how the top 1% freelancers are finding better clients, charging higher rates and landing more gigs, so I can implement that advice today. And that’s what I did.”

    Madhav Bhandari, Hubstaff Talent

    Location plays a major role in average hourly rates: Freelancers in Great Britain command the highest average rates (more than $46 per hour), and those in the Philippines earn the lowest average hourly rates (less than $12 per hour).

    Highlighting your work on a business or personal website helps you charge more: Freelancers with websites who work 40 hours a week earn nearly $28,000 more annually than full-time freelancers without websites.

    Experience factors into the rates freelancers charge: Marketing industry freelancers with fewer than two years experience earn an average of $17 per hour, but those with more than ten years of experience earn an average of $52 per hour.

    When it comes to landing freelance gigs: Prospects that come through referrals were by far the most likely to convert to clients at 30%.

    When asked what signs to look for to identify bad clients: The number one response was clients that ask for too many revisions (40%). Asking for a discount is another bad sign (26%), as is requesting too many meetings (12%).

    “I’ve seen and read multiple freelance studies that are out there,” said the study coordinator and Hubstaff’s Growth Strategist, Madhav Bhandari. “Most of the studies talk about freelancing from a more higher-level perspective like where the industry is heading, how much money this industry contributes to the economy, etc. That’s fluff to me, as a freelancer. I wanted to get actionable insights on how the top 1% freelancers are finding better clients, charging higher rates and landing more gigs, so I can implement that advice today. And that’s what I did.”

    Hubstaff’s freelancing study contains eight sub-sections that cover a wide range of topics as well as an easy to share infographic that summarizes all the important findings.

    Here’s a short summary of what the study concluded from the data:

    • Freelancer’s rates vary wildly by amount of experience, location, and specialty, so there’s no real standard to refer to. It is important to set a rate that is reasonable for the services provided.
    • Having a place to promote and showcase work is critical. Freelancers with websites and developers with GitHub profiles make significantly more than those who don’t have websites. Additionally, freelancers are more likely to get jobs when clients research their background and qualifications thoroughly. Giving clients a place to research previous work, and a means to get in touch will likely lead to more gigs and more money.
    • An early agreement on rates is crucial. If a freelancer’s rates aren’t in line with a client’s budget, the chances of landing the gig are minuscule. Being transparent with rates is important, listing them on a website or third party portfolio can be helpful. This will also help early identification of clients who intend to ask for a discount, allowing freelancers to end those relationships before they begin.
    • Long-term and recurring projects are the most profitable. Efforts should be focused on finding clients seeking ongoing work. This helps reduce the waste associated with having to look for new clients and jobs. Additionally, long-term clients are more likely to show their appreciation by referring others. Prospects who come through referrals are most likely to convert to clients.

    To see further insights and view the study in its entirety, please visit here. For press queries, please send an email to madhav@hubstaff.com.

    About Hubstaff:

    Hubstaff was founded in 2012 by Dave Nevogt and Jared Brown, two entrepreneurs from Indianapolis, Indiana. They were using remote freelancers and wanted a better way to manage them. Their time tracking software is built by a small team spread across the globe and the company’s office space is virtual. Hubstaff is actively used by over 8,000 agencies, freelancers, website owners and virtual teams all over the world. Hubstaff Talent was launched in July 2016 as a way to connect businesses and freelancers – the website sets itself apart from the rest by being completely free, no fees and no markups.

    Source: Hubstaff

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