freelance income
Self-employed pay
Freelance income is money earned through self-employment rather than as a salaried employee—payment for work done on a project or contract basis.
Writers, designers, consultants, and gig workers all generate freelance income.
The term matters especially at tax time, since freelance income lacks automatic withholding: I set aside thirty percent of my freelance income for taxes.
- 1099Non-employee income document
- consultingGiving expert advice professionally
- invoicingIssuing payment requests
- net 30Invoice due in month
- late paymentRemittance past its deadline
contracts · graphic design · bill · photography · budgeting · famine · networking · retirement planning · feast · profit margins · gig · side hustle · liability insurance · tax deductions · writing · expense tracking · cash · feast or famine
- incomesalary, earnings, wages, pay, net earnings
- taxable incomecapital gain, capital gains, dividend, bonus, bond interest
- personal financesavings, credit, investments, bills, auto insurance
- taxessales tax, estate tax, excise tax, corporate tax, payroll tax
- tax terms1040, W-2, 1099, W-4, tax refund
freelance incomefixed income
Stable recurring revenue
guaranteed income · steady paycheck · monthly salary · pension · annuity
freelance incomepassive income
Money earned without labor
investment income · rental income · dividend income · interest income · inheritance