Jumping Into Freelance-living

[68-degrees]

Any advice on taking this leap?

I'd like to explore a photog/producer lifestyle in the Midwest. How does one get started?

Anyone with some experience, please let me know.

Thanks

[Signature on File]

I don't think there are any benefits, unless you can depend on your spouse for coverage.

[Newbie1215]

how does pay work for freelancers?

[vuphinder]

If I am lucky...I get paid 30 days after the job is completed....usually 45 days anymore.

[Spike]

Originally posted by Newbie1215:
how does pay work for freelancers?That depends on the company that hires you. You usually treat yourself as an independent company, making up an invoice for your day's work and submitting it to the company that hired you. That company's accounting department then processes your invoice and issues you a check. The check they give you is the gross amount; they don't usually take out taxes. For tax purposes you get a 1099 form instead of a W-2.

Some companies set up a streamlined invoicing system for frequent hires. I freelanced for a company that would put a frequent freelancer into their system on a contractor list. They provided services to other companies as well. To keep it all straight, the freelancer would simply fill out a time card at the end of the day showing hours worked and clients to be billed instead of submitting an invoice. They usually paid within thirty days for invoicing freelancers, but paid within two weeks for regular freelancers in their system. They still didn't withhold taxes but sent a 1099.

Speaking of taxes, keep in mind that you'll probably have to file and pay quarterly estimated taxes. It isn't really difficult, but a lot of new freelancers have difficulty with it simply because they don't think ahead or don't think of it at all.

[Bureau Chief]

I do some occasional freelance work for other stations in distant markets. Word of warning...more and more stations are waiting 60 or even 90 days to pay stringers and freelancers. Its tough at first, but once they start calling you, and word gets around, things start looking up. BUT its tough to make a good living freelance once you consider all the expenses. Taxes that you have to pay at the end of the year, car expenses, equipment repairs and purchases, and sicknesses. And you will be out in the worst weather so you will get sick and or injured. No sick leave and private health coverage is damn expensive. I didnt say its impossible to make a living, just tough.

[Ralphie the buffalo]

Don't forget that you have to cover the entire 15% contribution to Social Security at tax time. Full-timers are used to 7.5% being deducted from each check. As in independent contractor you pay the entire freight on that one, and it hurts the first time you get hit not knowing that it is coming.