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Our mission to make business better is fueled by readers like you. To enjoy unlimited access to our journalism, subscribe today . The coronavirus pandemic has transformed many office workers into remote workers, and that’s likely to continue even after the pandemic ends. LinkedIn is hoping to capitalize on the new reality by developing a service for freelancers to find work. Called Marketplaces, the new service will enable businesses to find, hire, and pay freelancers. Tech news site The Information first reported about Marketplaces on February 19. LinkedIn, owned by Microsoft , is looking to build off a strong 2020, during which millions of Americans who were left unemployed by the pandemic used the site. LinkedIn’s $8.8 billion in revenue during the year was nearly 20% more than in 2019. In a statement, LinkedIn spokeswoman Suzi Owens said the number of LinkedIn users who added “open for business” to their profiles has soared since the pandemic began. The phrase “open for business” suggests that those people are openly searching for work. Marketplaces, which is supposed to launch in September, will focus on white-collar jobs in fields like design, marketing, and software development. Employers would be able to use the service to compare the rates of individual freelancers and the kind of work they offer. “In the future we’ll be building new ways to share more about the services you [could] offer directly through your LinkedIn profile,” Owens said. Microsoft is considering taking a cut of transactions on LinkedIn Marketplaces as well as charging freelancers to post their own ads, according to The Information . Marketplaces pits LinkedIn against publicly-traded online freelance job boards Upwork and Fiverr. Together, those two sites generated nearly $550 million in revenue in 2020, a 37% increase from the year before. Marketplaces is expected to blend features from both competitors. It will let businesses shop for freelancers and compare rates, similar to Fiverr, while employers will be able to post their own proposals to freelancers, similar to Upwork. After the job is done, customers who hire freelancers can then post reviews about them. Marketplaces is expected to replace ProFinder, a longtime LinkedIn feature that lets users post jobs and hire freelancers. But the new service takes things a step further by letting users connect and facilitate deals directly on the site. Marketplaces is the latest in a series of efforts by big tech companies to tap into the growing market for connecting freelancers with jobs. In December, Facebook announced it was forming a team to develop a service for hiring freelancers, mostly those specializing in physical work like home repair, although it’s unclear when that service will debut, according to The Information. Even before COVID-19, freelance work has been gaining momentum. In 2017, Upwork and the Freelancer’s Union suggested that most U.S. workers will be freelance by 2027. But that timeline was potentially accelerated by the pandemic. “Remote work, and the talented freelancers who work remotely, will increasingly be the norm,” Hayden Brown, Upwork’s CEO, […]

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Many companies turn to freelance professionals to execute some or all of their software development needs . This has resulted in an incredible opportunity for skilled independent software developers to find more lucrative and engaging work. However, software development is a fast-evolving industry. To succeed in this freelancing field, you’ll need a solid foundation and some experience. You’ll also have to continuously retool your skill set to keep up with any changes. This guide provides seven keys to help you be successful as a freelance software engineer and describes the trends that will define the year ahead. Freelance software development: Essential tips for independent professionals As a freelance software developer, you won’t have the same opportunities as a full-time or even part-time employee. You’ll have to secure your own freelance work. It’s up to you to put yourself in a position to get the best freelance jobs available. To make things even more difficult, you may not have a large marketing budget if you’re a small business owner. You’ll need to be creative in marketing your services and presenting yourself as an authority in your industry. You can be the best software developer in the world, but if no one knows who you are, you won’t get steady work. Clients want to know that you have the skills and expertise to get their long- and short-term projects done. You’ve got to find the clearest way to communicate your abilities to them. Here are a few tips to help you establish yourself as a freelance developer: Market yourself. Create an interactive website and GitHub profile to showcase your software development portfolio and exhibit projects you’ve worked on. Advertise them on social media sites like LinkedIn and talent networks like Upwork . Expand your skill set. The best developer jobs require knowledge of multiple programming languages and platforms, such as JavaScript. You can find specialized development courses on sites like Coursera and Udemy . Stay attuned to emerging trends. Listen to podcasts like The Doppler Cloud Podcast or read blogs like CodeBetter . Attending meetups (in person or online) is also a great way to get to know what people in your industry are up to. You can also check out feeds like GitHub Explore . Assess opportunities to specialize in specific software. There are several types of software development, from mobile development and web development to application development. Each type requires knowledge and expertise of different programming languages and tools. Collaborate with other developers. Developers have to be great at working in teams. Contribute to open-source development projects on sites like CodeTriage . Write guest content. Write guest blog posts for sites like freeCodeCamp . This builds your credibility and gives you access to a larger audience to promote your services. 7 keys for freelance software developers in 2021 The software development industry is constantly changing, and 2021 looks to be another year of rapid growth. There are quite a few trends and concepts you should be aware of to […]

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The gold standard, for freelancers and their clients, should be to establish long-term, rewarding, mutually beneficial relationships. Here’s how to build those connections. Opinions expressed by Entrepreneur contributors are their own. It’s no surprise that the gig economy is skyrocketing. More than one-third of the American workforce turned to freelancing during the pandemic, and not necessarily because they lost their full-time jobs—some workers are simply filling extra time by making extra money, or supplementing their incomes to bridge the gap between stagnant wages and a nationwide rising cost of living . Others are willingly turning to freelancing for flexible hours and less stress. The rise of the gig economy dispels the long-held idea that an army of full-time, salaried employees are essential to running a business . In fact, the opposite is true—slim core teams with a wide network of freelancers will likely be the standard business model of the future. This world has become possible because technology has democratized what companies can achieve with fewer resources. Affordable SaaS solutions have replaced major infrastructure investments; lightning-fast 5G and fiber internet speeds allows remote teams to work from anywhere. Elon Musk ’s Starlink project, for example, will connect users in remote areas around the world. All this underscores the shift toward individual talent without physical barriers. It’s a golden age for freelancing. Yet there is a significant trade-off that comes with the relatively lax work-from-anywhere lifestyle: job security. Having spent more than two decades as an entrepreneur in the creative industry, I’ve worked with dozens of high-profile clients and hundreds of freelancers. The gold standard, for freelancers and their clients, should be to establish long-term, rewarding, mutually beneficial relationships. For freelancers, steady work means reliable income and easier workflows; for clients, it means less stress, a knowledgeable resource and a motivated ally on your side. Transforming gigs from one-offs into recurring work is possible—but only if freelancers make themselves indispensable. Here are a few tips to help do that. Always be “on” While employees can clock in and out of a workday without always putting in 100%, freelancers don’t have that luxury. Freelancers must be their own marketing department, accountant, creative director and client manager—as a one-person business, the stakes are higher, because you don’t have anyone else to blame if business dries up. When you’re dependable and your work is good, this pays off. Clients will throw more work your way. You should take it on whenever possible. You want to be there whenever they need someone; when your calendar opens up, drum up new projects. You can’t afford to slow down, especially when building new relationships—and your clients will take notice. Understand your client Freelancers don’t just succeed by doing a job well—the best ones understand their clients’ industries and positions. Know your clients’ market trends and best practices. If you’re new to their field, spend hours researching it; once you’re done with the project, use it in your portfolio to pitch other companies in the same field, […]

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Opinions expressed by Entrepreneur contributors are their own. These days, online jobs and education opportunities are quite popular. People love to work from home, and the internet is exploding with money -making opportunities. How can you fit into this new popular niche? Let’s explore! Working online does not impose the same time restrictions as working in an office or brick-and-mortar store. You don’t have to adhere to strict dress codes or company policies. Often, you don’t even have to interact face-to-face with clients, customers or co-workers. This can be especially nice for independent spirits or introverts. Not having to go to an office affords people a lot of freedom and autonomy. Imagine working in your pajamas! If you need to take off to get your kids for an activity, you can do that without having to call your boss and arrange to leave the office. Your attendance is up to you as you set your own hours. Often, you can leave the computer for a spell to get things done and then return to work when you are ready. You can also be your own boss. Expand your business as you see fit. No one can restrict your decisions or tell you what to do with your work. This does not apply if you work online for a company, but it does apply if you are a freelancer or have your own online business. The internet is a great way to reach lots of people on an international scale. You can use it to advertise or offer your services to a variety of clients all over the world. Marketing through social media enables you to reach lots of people with minimal effort. What can you do online? Anything, really. But having a clear goal and solid service or product is key. You must be able to offer your future employers something. Determine your strong skills and advertise those. Freelancing Try freelancing sites like Upwork or Guru. You can charge an hourly rate or charge by the project. Writing . Being able to write is a great way to make money online. Written communication is important for businesses. You can find jobs writing for blogs, gossip sites, online journals and business websites , just to name a few. Editing . Documents often contain errors. As an editor, you comb through documents and improve them. You can find editing jobs online in a huge variety of languages. Web design . Use your skills for creating websites and your aesthetic sense to create websites for people. Illustration and logo design . Are you an artist? Then you can work online creating art for businesses or other people. Translating . If you are bilingual, offer your services as a translator. Use your skills to change the native language of documents. Translation services are in demand throughout the world. Transcribing . After listening to audio or watching videos, you put the words down on paper (or in an electronic document). Transcribing is hard work […]

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If you run a small business then you should know that you can greatly benefit your business by hiring freelancers instead of permanent staff. Freelancers save you money, time, and other resources. They allow you to focus your other resources on core business functions and strategic planning. How to Find a Freelancer There are many different kinds of freelancers: writers, graphic designers, administrative assistants, and more. Many of them are in business for themselves, and some of them can be hired at online outsourcing marketplaces. The advantage of the marketplaces is that it can be easier to locate the freelancers you are looking for. Also, many of them use standard contracts, meaning that you will not have to negotiate. If you would prefer to look for independent freelancers, you can find them through web searches, though this is more time-consuming. You can also ask your colleagues for references. Clearly define your project’s schedule and deliverables. Give the freelancers as much information as possible so they can submit realistic proposals. Look over proposals from different marketplaces and individual freelancers. Ask them questions to learn what you can about them and the kinds of work they have done. It is particularly important to ask about the kind of support that will be made available to you during the project and afterward. Will you have the right to refuse payment for work that doesn’t meet your standards? Will you have the right to ask for revisions to the work? Next, check the references from each freelancer to get feedback from their former clients. Take a look at their samples to understand their work capabilities and the quality standards you can expect. Never choose a freelancer solely on price: overall quality should be a major factor in your decision. Once you have an idea of what to expect from each freelancer, you can choose the one best suited to your project. After You Choose a Freelancer It’s always a good idea to get everything in writing before the project starts. If you are hiring via an online marketplace, it will probably have a standard contract for you to agree to. Otherwise, you can draw up your own. The agreement must include a project plan that outlines the project’s deliverables, deadlines, and payment terms. It should also clearly state who has ownership of the work done by the freelancer. Freelancers generally require advance payment. If you are hiring through a freelancer marketplace, you may be required to put the full payment amount on hold with them, to be paid upon project completion. Independent freelancers may require 30 percent or so upfront. Only send them full payment after receiving a deliverable. Managing your Project Projects sometimes change deliverables, deadlines, and prices. If you must change the terms of your project after it has begun, make sure that all of the changes are agreed on and documented. If the project is a long term one, ask the freelancer to submit regular progress reports. Save any chat […]

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There are more than one billion freelancers all over the world, and almost 60 million people work from home. The pandemic has made people in every country realize that this industry is extremely important, and it is said that the number of freelancers is expected to grow in the next few years. The country with the most self-employed people right now is the United States, and in second and third place are the United Kingdom and Brazil, respectively. This industry is worth more than one trillion dollars, and this number is rising by the day. As we all know, it is a huge industry, with really height competition, no matter if you are a client, or a person looking for a job. One of the best things about this industry is that the advancement of technology is helping both freelancers and clients, and we are free to utilize different tools to make our projects easier. In this article, we are going to talk about some of the benefits of invoicing and accounting software that can help self-employed people keep track of their earnings, and easily connect with their clients and get their paychecks regularly. Source: Ming Movers Pte Ltd 1. Quicker payment The number one benefit of online invoicing software is that you are going to get paid faster. We all know how important timely payments are, and when you are a freelancer, you can never be too sure if you are going to have a job next month, week, or even tomorrow. Some clients are responsible and they will send you the payment on the agreed date, but others may not have the needed information so they can release the payment. When you utilize these tools, you will be able to send an invoice a few days before the client needs to release the payment, and with that remind them. This will lead to faster payments, and you won’t have to worry if the client forgot to pay you for the finished work. 2. Decreased mistakes When working as a freelancer, you cannot allow yourself to make mistakes, especially when it comes to payment. If you are working on several projects at the same time, you can easily lose track of the things you are doing, and you can send the wrong invoice to your client. This could lead to misunderstandings and you may even get fired. If you make a mistake with even one digit, you risk looking like a person who is trying to trick the employer and get more money, or you may get less money than you are supposed to. The accounting software can help you keep track of all the projects, tasks, and ultimately, all the money that the client needs to pay you. It will decrease and even eliminate errors, and you will know you will get the exact sum you need. Source: PlanMill 3. Automated payments Automated payments are one of the biggest benefits that come from this type of software, […]

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What if you could earn money while you’re reading this article? If this sounds appealing to you, you should know more about passive income. With passive income, freelancers can have extra cash coming in without working overtime. How? The Cannon Courier has helped put together a few resources and tips to answer your most pressing questions. What is passive income? It may help to begin with a succinct definition of the phrase “passive income,” especially if you’ve never looked into the concept before. In short, passive income is any sort of income generated through a channel or enterprise in which you are not an active participant. While you may own the source of income, like a rental home, you don’t have day-to-day responsibilities. How can I earn passive income? Now, passive income may be sounding pretty good. After all, who wouldn’t want to earn income without putting in a ton of effort? It may even sound too good to be true, but we promise you it isn’t! There are plenty of ways you can start earning this sort of income to fortify your own finances. One such example is to open an ecommerce shop. Dropshipping businesses are just the type of ecommerce store where you can make extra cash without a lot of extra time or upfront costs. Getting started is pretty simple, but you may need some help marketing your business. That’s why ecommerce marketing services are highly recommended. You can find experienced consultants via freelance boards like Upwork. Need a few more suggestions? Here are some other ways to generate passive income: Start getting paid for referral links and leads. Consider starting your own digital news site. Get involved with short-term investments. What about owning real estate? Yes, owning an investment property is another savvy way for entrepreneurs to maximize their passive income. It should be noted, however, that investing in real estate does require quite a bit of upfront investment. Obviously, you need to buy a home, but you will also need to put some money into getting that home in shape, either as a rental or to sell it for top dollar. If you want that investment to be profitable, you also need to do a lot of research and reading before you make such a major decision. Check out rental statistics in your preferred area and look into the local real estate market while you’re at it. You should be able to buy your first property below market price and to charge at least 1% of the total value each month. Another perk to using real estate as a passive income source? You could end up saving quite a bit on your taxes. Landlords can take advantage of several credits and incentives that can lower their annual tax bill and offset preparation and/or maintenance costs, so look into these. How is other passive income taxed? The answer depends on what your source of passive income is, but even if you’re just earning income as […]

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Setting Up Your Finances as a Freelancer

If you are new to the world of freelancing, you probably do not have much experience in managing your finances. You will need to consider taxes, among other factors. 

How you manage your finances will impact how you succeed as a freelancer, no matter the type of work you do. You will want to learn to keep accurate records of your funds coming in and out, as well as ways to improve your business.

Here’s how you can get started.

Keep Personal and Business Money Separate

Before you get too deep into freelancing, it will help if you create another savings account. There are plenty of banks out there with online services, allowing you to track everything easily from any device.

Having separate accounts will help you set aside money for taxes, business costs, and other freelancing expenses. Plus, doing so will allow you to see better if you do not spend more than what you have for your personal business.

Additionally, this gives you a better way to track all of your income. You need to record this information yourself, especially if you will not receive a 1099 form for your taxes. That way, you know exactly what to expect when you need to file.

Plus, you will also need to record cash and online exchanges, such as when you receive a payment through PayPal.

Update Your Records Often

You will want to come up with a record-keeping system that works well for you. Everyone might have a different method that works the best for them- it does take some experimenting to find it. You can set aside one day of the week to look over what you did previously and record everything accurately.

Plus, it helps if you go over all of your financial records again at the end of the month. It might feel a bit tedious, but trust us, it will be worth it for your freelancing career. We recommend setting a reminder on your phone, so you do not forget.

Don’t Wait to File Taxes

As a freelancer, you should be one of the first people to file your taxes. You can prepare everything beforehand, then submit when the forms are due. Doing it earlier is much better than filing them at the last minute- which can create many problems.

As a freelancer, your taxes are going to be more complicated than someone else’s taxes, which have a W-2 included. You have more forms to file, more deductions, and more finances to report.

Taxes are complicated for many people, but when you put off filing your returns, you make them a lot more complicated and put more pressure on yourself. Besides, if you file late, you are going to accrue some fines- which can quickly add up.

Keep Your Finances Organized

You will want to do your best to keep everything organized. While having separate accounts does help with this, you will also want to take some extra steps to keep everything easy to find.

One idea would be to create spreadsheets to track your finances. Dedicated apps and even a physical notebook are also good ideas. Whenever you enter funds manually, make sure that you do so correctly.

If you are unsure of how to track money yourself, there are professional services available to you. For instance, Intuit’s QuickBooks is one option, although there are plenty more similar services online. 

These bookkeeping services track your income and spending when linked with your freelancing accounts. They also will calculate how much money you owe in self-employment taxes.

Plus, by keeping organized, you will feel a lot more free in your work. There will be less stress and worry as you check on your income and expenses from running your freelancing work.

Know Your Rates

Finally, you will want to know your rates. You will want to compare how much you are currently charging and how much you should be charging. A beginning freelance writer or editor can expect between $25 and $30 per hour when starting out. The more experience you have, the more you can charge without being unreasonable.

However, if you are charging too much, you may not see many clients. But, you do not want to undercharge yourself either. You will want to compare rates from other freelancers doing similar types of work as you are. That makes a decent base; then you can go from there.

Overall, there are many ways for freelancers to manage their finances. Once you learn, it will feel natural- making it easier to save money and navigate your tax forms.

This article was originally posted at Freelancing buzz.

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In this era where content is produced at unprecedented rates, editing has risen to the top of in-demand skills. According to HubSpot , at least 70% of marketers are actively participating and investing in content marketing, which is further proof that content has become integral to branding. Organizations are now working with large teams of independent copywriters to produce content in the form of blog posts, case studies, and more. Accordingly, there is currently a significant opportunity for freelance editors , especially in 2021’s digital information economy. However, you’ll need to fully understand what the role entails and its facets in the world of modern business. This guide will act as a step-by-step explanation of how you can begin and thrive as a freelance editor. Working as a freelance editor: Duties and opportunities An editor’s primary goal is to ensure that copy has improved language and vocabulary, correct syntax, and maximum impact. Hence, being an editor requires an in-depth knowledge of spelling, grammar, and punctuation—basically, a good editor should have quality writing skills. A bachelor’s degree is generally not required. However, most editors should have work experience in journalism, communications, public relations, marketing, literature, or related industries before setting up their freelance business. As a freelance editor, you’ll be working as a contractor on a per-assignment or per-project basis with your clients, which means you can choose the type of editing, projects, and where you work. However, freedom can be a double-edged sword because working with more than one client means you may need to know more than one type of copywriting. You’ll have to be flexible and adapt your approach to accommodate different platforms, as well. From editing marketing content to proofreading website copy and improving product instructions, freelance editors can help organizations in many facets of their work. Here are the different types of editing you can choose to offer: Proofreading: Proofreading is the final polish before the copy goes to publication. Proofreaders look for any remaining typos and errors in tense, grammar, spelling, or punctuation, and consistency across design elements, such as page numbering or line breaks. Copy editing: Copy editing checks for grammar, sentence structure, punctuation, and spelling errors and ensures consistency in style. It also includes checking for references to ensure the facts and statistics mentioned are accurate and valid. Stylistic or line editing: This type of editing is used for manuscripts—both fiction and nonfiction. Line editors aim to enhance the writer’s voice and tone, including clarifying what the writer wants to get across, polishing dialogues and descriptions, and checking that the material’s reading level matches the target audience. Developmental editing: A developmental editor works with authors to write a book from start to finish, including theme and character development, plot design, and dialogue. This is a very involved type of editing that you may offer if you have experience writing books and developing story arcs, structure, and flow. Structural editing: This type of editing involves guiding authors with their story structure and style. […]

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Gig workers represented 35% of the U.S. workforce in 2020, up from 14% to 20% in 2014, according to Forbes. “After being laid off or unable to work their normal jobs due to the pandemic, many people worked as independent contractors with food delivery services, companies that provide online tutoring or as virtual assistants,” says Wade Schlosser, founder and CEO of Solvable.com . These are just a few avenues that individuals took to earn money in 2020; others set up ecommerce stores, joined direct sales companies or tried their hand at making crafts for money. However, taking a freelance job or launching a business can present tax-time challenges for people who are accustomed to having taxes withheld from their paychecks. “Gig workers don’t have taxes taken out by their employer and, instead of a W-2 form, receive a 1099 form to show their pre-tax earnings. For those who aren’t familiar with paying taxes as an independent contractor, it can get complicated,” Schlosser says. Here are three ways you can reduce taxes as an independent contractor. Know What Business Expenses You Can Deduct “It’s important to remember that you can deduct all your business expenses as an independent contractor, including tools you need to do your job, such as a computer, software or apps, a smartphone and internet access,” says Schlosser. “You may be able to deduct mileage, maintenance and repair expenses for your car, as well as a portion of your lease or loan, if you use it in your freelance business.” If you started a business selling crafts or merchandise online, you can deduct expenses such as PayPal fees, website hosting and advertising, too. Gallery: More Than 50% of Americans Passed This Tax Quiz — Can You? (GOBankingRates) More Than 50% of Americans Passed This Tax Quiz — Can You? – mediaphotos / iStock.com Ad The Saving Lab Ad TettyBetty Slide 1 of 14: When it comes to finances, there’s a lot that Americans don’t understand — especially when it comes to taxes. After all, the tax code is long and convoluted, and many aspects of it change every year. Even if you consider yourself fairly well informed, there are likely important details about filing your taxes that you’re unfamiliar with. Find Out: Tax Year Deadline Dates You Need To Know Although accountants and software do a lot of the heavy lifting these days when it comes to personal taxes, you should still understand how taxes work so you can help avoid missteps that could cost you money. Here’s a quick, six-question quiz that focuses on some of the most important aspects of filing personal taxes. Last updated: Feb. 18, 2021 1/14 SLIDES © mediaphotos / iStock.com If you took any courses to help you perform your duties better, you can deduct the costs of books and classes. Don’t have receipts for your purchases? You can also use credit card statements and bank statements as proof of purchase. Contribute to Pre-Tax Investments You can reduce your adjusted gross […]

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