All language subtitles for 5. Understanding Taxes as a Freelancer

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Original subtitles

1 1

So just a quick note about taxes. I 2

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really want to kind of talk about how a 3

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freelancer has to be cautious of that. 4

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Now I'm no expert like you should 5

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definitely talk to a CPA and a tax 6

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person for the actual real information. 7

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I can give you my experiences, but legally 8

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you need to go talk to a real person who 9

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is educated and well versed in your 10

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particular situation. Everyone's 11

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situation is different. The big thing 12

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about taxes that you have to remember 13

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that most film sets, most things are you 14

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working for, are not going to be taxing 15

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you, they are going to be giving you a 16

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full rate, which is why you should be 17

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asking for a for a full rate, because it will 18

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get tax later on. Also going back to rates, 19

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if you can raise your rate so that you 20

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know you'll be paying taxes quarterly, 21

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that would be really helpful, if your 22

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gonna be a full blown freelancer. You 23

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have to remember that you've invested 24

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all this money into education, into 25

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equipment into all these 26

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things, soy you are worth it, 27

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your rate is worth it and when you get 28

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taxed it's going to be taking away from 29

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that rate. So you want to make sure that 30

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even if you are getting paid $500 a day 31

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that $150 of that gets 32

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tax, the rest of its gonna go to you over 33

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time. So the big thing is make sure your 34

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rates high enough to battle this taxes, 35

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be aware of what you can and can't write 36

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off as a freelancer and also be aware of 37

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how much taxes you are going to end up 38

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going at the end of the year.

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