future bing - may 4, 2012

taxes day


TAXES AND MONEY

Struggling with money, cashflow, and tax as a self-employed creative becomes a major theme throughout PBFB. In this episode I am organising my receipts and building spreadsheets of my incomings and outgoings. As a newly registered self-employed person who had been earning money for several years, even as a student, my first accounts catalogued over three years of income and expenses. It was a steep learning curve, and the cost of accounting fees and accrued tax would be a serious blow to FB in the year to come. Some years my tax bill would be huge, others it would be zero, and this tug of war caused a lot of problems for me.

Tax and accounting did not get easier very quickly, and only now (five years from this video) would I say I have control over my finances. Something I would mention in several later videos is how frustrated I was that higher education did not prepare me for life as a freelancer. The ups and downs of my personal finance in the years that followed would lead to some of my lowest moments, but ultimately inspire me to get organised and start owning my decisions.