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LCM Network Newsletter and Job Spreadsheet
1/30 Edition (131 jobs inside)
Leah Rietveld
January 30, 2024
Welcome to the LCM Network
January is almost over—time to get serious about your plans for this year!
Follow the LCM company page on LinkedIn to get early news of new roles and even roles “outside” the LCM Network! Seeing a role earlier can make all the difference!
Subscribing to the newsletter and spreadsheet is free!
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Tax Prep advice for freelancers!
Recommended FREE resources to help you with your job or job search!
Resources for Entrepreneurs!
The weekly job spreadsheet with 131 Roles this week! Accounting! Web3, AI, Software Engineering, Electrical/Mechanical Engineering, Finance, HR, etc….
Demystifying Tax Season: A Practical Guide for New Freelancers
Ah, tax season—the annual adventure that freelancers and those currently on an involuntary "staycation" know all too well. As the W-2s and 1099s pile up, it’s time to gear yourself up with the appropriate gear to conquer this annual foe.
Chase Paper Trails:
Begin by collecting your W-2s, 1099s, and any additional income statements. For freelancers, organize records of all client payments and income from various sources. Look through your bank accounts and credit cards for business-related subscriptions or major purchases to support your work.
Minimize the Self-Employment Tax Hardship:
As a freelancer, you are responsible for both employer and employee contributions to Social Security and Medicare, which can take an even larger cut out of your hard-earned cash. However, you can deduct eligible business expenses such as a dedicated home office, equipment purchases, or business-related travel. It literally is the cost of doing business, so make sure you are including those expenses to make sure you are being taxed on your profit, not your revenue! For freelancers, deductions could include the cost of a co-working space, business-related software subscriptions, and professional development courses directly relevant to your freelance work. Think through all these costs that felt sunk when you were getting your clients, and make sure you include them as deductions if possible.
Consider Unemployment Benefits: Both Taxable and Taxing?
If you've surfed the waves of unemployment benefits, set aside a portion to cover the taxes owed. For instance, if you received $6,000 in benefits and your tax rate is 15%, reserve $900 to cover the tax liability. Hopefully, some has already been withheld, but if you were lucky enough to have your income return, you may owe more than what they withheld because of your higher tax bracket!
Make Your Ritual Offerings to the Tax Gods:
Paying quarterly taxes is required for self-employed individuals and those without income withholding, preventing underpayment penalties and ensuring consistent tax contributions. Failure to comply can lead to interest charges and financial stress. Responsible tax management is crucial to avoid a hefty year-end tax bill and potential IRS enforcement actions. Using IRS Form 1040-ES and seeking professional advice can aid in calculating appropriate quarterly payments based on estimated income. If your freelancing income fluctuates, base your quarterly payments on the previous year's tax liability or 90% of the current year's expected liability.
Seek Out Tax Credits:
While you search for employment, you can use the Child and Dependent Care Credit for eligible childcare expenses. If you're continuing your education while you are unemployed, you can explore the Lifetime Learning Credit.
Invest in Retirement Accounts:
One way to lower your taxable income is to contribute to a traditional IRA. If you're a freelancer, consider contributing a percentage of your freelance income to a Simplified Employee Pension (SEP) IRA.
Keep Track of COVID-19 Relief Measures:
Stay informed about the tax treatment of any COVID-19-related financial support, such as the Paycheck Protection Program (PPP) loans for freelancers. Understand any special provisions that may impact your tax situation.
Plan for the Future:
Craft a monthly budget that considers your current financial situation. Set achievable goals, such as building an emergency fund, reducing non-essential expenses, or exploring new income streams.
Utilize Tax Software or Professional Assistance:
Use tax software like TurboTax or H&R Block to input your financial information and generate accurate tax returns. These tools streamline the process and guide you through potential deductions. Also, though, know your limits. Professional support can often end up saving you time and frustration and may actually help you keep more of your hard-earned money by identifying opportunities to reduce your tax liability.
For freelancers and those navigating the unemployment rollercoaster, tax season is an annual quest with quarterly mini-games. Armed with calculators and a dash of humor, tackle this adventure with the same tenacity that got you through freelancing gigs and unexpected career pit stops. Stay savvy, explore deductions, and, most importantly, make tax season yours! May your refunds be plentiful and your audits non-existent. Onward!
Want a quick way to earn some cash every time you buy gas, eat out, or visit a convenience store?
Check out Upside for great cash back offers—in my area, I currently have up to 42¢ per gallon and up to 23% cash back on burgers at places I already frequent! Check out where you can get money back on your everyday purchases.
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Support for Entrepreneurs!
Check out these supportive communities for growing your business!
Unleashed: Thriving as a Neurodiverse Female Entrepreneur
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Real Estate Opportunities for aspiring solopreneurs, investors, or side-hustlers:
Do you have or want a real estate license to a) invest, b) refer only, c) join a zero upfront cost, 100% commission team, or d) join an 80/20 team where you can build a network of real estate agents below you where you can all benefit? Check out LPT Realty for options to hold your license, invest with lower real estate agent fees, do part-time work, or grow your real estate empire with little to no investment in AL, CO, DC, FL, ID, IA, KS, LA, MD, MA, MI, MO, NV, NC, PA, RI, SC, TN, TX or VA. Mention Leah Rietveld as a referrer or follow the link to get priority consideration: https://leahrietveld.lpt.com/
Are you considering getting your license, transferring your license to Florida, or need your continuing education credits? Check out the Florida Real Estate School by following the link provided. Options are available where you can get your course costs reimbursed if you interview with (not join) a referred real estate agency. You don’t have to live in Florida to be licensed there, either!
Weekly Job Spreadsheet
103 LCM Apply Roles where you can be connected with hiring managers through LCM today! Lots of great accounting roles as we head into tax season and lots of new software engineering roles!
Plus, 28 Direct Apply Roles Remote roles throughout the US, where you can view and apply by clicking the links.
That’s 131 roles!!