Learn the best way to set up your freelance business for tax purposes from an experienced freelancer. This video is specifically focused on taxes in the United States.
Note: Neither Luke or freeCodeCamp in any way hold themselves out as providing tax or financial advice. You should discuss such issues with a licensed professional.
Also check out Luke’s beginner’s guide to starting your own freelance development business: https://www.youtube.com/watch?v=fsTzLgra5dQ
IRS Form 2553: https://www.irs.gov/forms-pubs/form-2553-election-by-a-small-business-corporation
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This Post Has 14 Comments
Great video, saved for future reference!
Great video! If you are wanting to calculate accurate taxes in the US, this App will help you tremendously: https://play.google.com/store/apps/details?id=com.codingfriend.quarterlytaxes
Great video! Thanks!
I've had it explained to me a few times but the way you outlined each tax entity was really clear and concise. I recently started out on my own and this will help me make decisions about how I can approach these matters.
Thank you for making this video.
Thanks! Wondering about all these things, we are looking to incorporate ourselves in the US, because we need stripe usa for international payments, stripe in my country is still in preview and its been in preview for 18 months!!! so no more waiting 🙁
Nice video.. thanks for doing this. If you could clarify about how do you purchase health insurance that would really helpful.. thanks again
Very helpful! I feel underwhelmed, in the sense that you didn't overwhelm me with too many details. I might actually go for it after seeing this! Thanks!
Thank you! This was very helpful
Thanks Luke! One Question: Is an S-Corp still worth it if only make $10K or less freelancing?
I'm an accountant, and I can safely tell you guys, this guy is a BOSS. Everything he is saying is relevant.
do you also need to pay the state income tax?
I will create facebook page and promote any business by fb marketing
Great video! Straightforward, you made things very clear and easy to understand. Thanks!