The Peck Group, LC
  • Comprehensive Tax Law Representation Since 1995

    We handle every aspect of tax law: preparing tax returns, representing clients during audits, resolving IRS and state tax controversies, and creating tax planning strategies for the future.

  • Problems With The IRS Or State Tax

    Our attorneys are committed to providing efficient and effective tax solutions for individuals and businesses in Georgia and nationwide.

  • Planning For The Future

    Our lawyers help individuals and businesses with all aspects of estate and tax planning. We help our clients use proactive strategies to minimize tax implications in the future

  • Changing The Balance Of Power

    Does it feel like the government has all the power? Taxpayers have rights, too. We use our knowledge of tax law to shift the balance of power and ensure that your rights are protected.

  • Tax Solutions … And Peace Of Mind

Taxes 101 as a freelancer

If you work as a freelancer in Georgia, you are in charge of handling your taxes. You do not have an employer to do so for you. Understanding the ins and outs of freelancer tax laws, therefore, is critical if you wish to avoid penalties from the IRS.

Doing your taxes as a freelancer does not have to be overwhelming. 

Choose your business structure

As a freelancer, you technically own your own business. Even if you are the only "employee" in your business, you are still an employer. If you offer a service, you are a sole proprietor in the eyes of the law. As a sole proprietor, tack a Schedule C (Form 1040) onto your personal taxes before the deadline. Schedule C is a profit and loss form.

If you have a partnership with someone else, you will use Form 1065 instead. This form separates profit and losses for each partner based on how much of the business each person owns. Each owner will have to enter individual profit and loss data on personal returns. Although more complex business structures exist for freelancers, sole proprietorships and partnerships are the most common.

Look for tax breaks

Owning your own business comes with certain advantages during tax time, including claiming deductions and breaks for business expenses. Throughout the year, keep track of your business-related expenses. These may include office space, software, hardware, work-related equipment, printers and travel expenses. You may then be able to list these expenses on your taxes to qualify for deductions on what you owe the IRS.

Pay quarterly tax estimates

Most tax professionals recommend setting up a quarterly tax payment plan as a freelancer if you believe you will owe more than $1,000 in taxes at the end of the year. Each quarter, pay an estimate toward what you will owe in taxes. This will help you stay on top of tax payments and avoid having to pay penalties or interest later. Many people seek professional help for complex freelancer tax returns.

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The Peck Group, LC
5855 Sandy Springs Circle N.E., Suite 190
Atlanta, GA 30328

Phone: 770-884-6914
Fax: 770-933-2369
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