Freelance Finance 101
⬇️ The book I wish existed last year when I left corporate! ⬇️
Grab a copy of Freelance Finance 101!
Table of Contents
(Text version of the ToC is under the description!)
Why Freelance Finance 101?
Hi, I'm Hiroko 👋🏼 I left my corporate job at a tech startup last year to work as a freelance Content Strategist and Technical Instructor.
As a proud owner of a ✨brand-new LLC✨, I spent hundreds of hours researching how to create a financially healthy freelance business from scratch. I made few good choices, and plenty of bad ones.
There were many pitfalls I could've avoided had someone been able to warn me 😱 I want to be that someone for you!
I've had many amazing supporters who helped me network and start my freelancing career. But freelance financial literacy was not something I could find much transparency about 🥺 Truth be told, I didn't even know what questions to even ask!
I'm writing Freelance Finance 101: an ebook for side hustlers with at least $500/mo income and freelancers looking to leave their full-time jobs 💰 (Aspiring to be one of these people? Grab a copy anyways!)
In Freelance Finance 101, I'm going to help you demystify:
Self-Employment Structures
Banking Dos and Don'ts
Self-Employment Retirement Options
Self-Employment Health Insurance
Transferring your corporate 401k or HSA to your own account
Freelance Bookkeeping
Self-Employment Taxes
How to Set Rates
And more! 💰
With Freelance Finance 101 ebook, I will save you hundreds of hours of time and costly financial mistakes as you set up your small business. After all, your business should serve you, not the other way around!
Table of Contents
Chapter 1: The Decision to Freelance
Chapter 2: Thinking Like a Business Owner
Schedule time to work ON the business, not just IN the business
Embrace Discomfort
Find Opportunities for Passive Income
Think about Scaling your Business
Outsource for Expertise
Chapter 3: Initial Startup Funds
How much should it cost to start my small business?
Your Business’s Financial Fitness
Value-Based Purchases
Chapter 4: Transfer your 401(k) and HSA
Rollover IRA: Transfer your 401(k) to an IRA
HSA Rollover: Move your HSA
Chapter 5: Health Insurance options for Self-Employment
Recent Changes in Health Insurance
Health Insurance Options
Chapter 6: Self-Employment Structures
Sole Proprietorship
Partnership
Corporation
S Corporation
Limited Liability Company (LLC)
Chapter 7: Which Corporate Structure should I choose?
Sole Proprietor or LLC?
LLC or Corporation?
Your Business, Your Choice!
Do it yourself, or have someone do it for you!
Chapter 8: Creating and managing Business Bank Accounts
Thinking About Money
The Order of Operations
Starting Out
Business Checking Account
Chapter 9: Bookkeeping: No Way Around It
What is “Bookkeeping”?
Bookkeeping Options
Chapter 10: Retirement options for the Self-Employed
Roth or Traditional IRA
One-Participant 401(k)
SEP IRA
SIMPLE IRA
Solo 401(k) vs SEP IRA vs SIMPLE IRA
Chapter11: Accounting Principle: Pay Yourself First
Take Profit First!
Set up an Accounting System that Works
Chapter 12: Getting Paid
Payment Methods and Applications
Make Your Life Easier!
Word of Caution
Chapter 13: Taxes as a Freelancer
Estimated Quarterly Taxes
Self-Employment Tax
Tax Forms
Getting your Taxpayer Identification Numbers (TIN)
Chapter 14: Pricing Yourself as a Freelancer
No Right Answer; but plenty of Wrong Answers
The Logistics of Self-Employment
The Value-Based Pricing
What do you WANT to be making?
Hiroko Nishimura is a freelance Content Strategist and Technical Instructor, teaching at LinkedIn Learning and egghead.io. She founded awsnewbies in 2018.
In her past lives, she was a Special Education Teacher and Systems Administrator at a Tech Startup in NYC. She blogs at hiroko.io.
Thank you!
I look forward to sharing my ebook and other freelance finance 101 resources with you! 😄