Working and making money from anywhere – if you haven’t yet tried, might seem like a distant world or something you could never do.   The thought of having more control of your lifestyle by be able to work from home or any location you choose might not even enter your reality.  Perhaps you can’t fathom a lifestyle where you don’t have a place of work to show up every day.  Maybe the thought of going it on your own as a freelancer or entrepreneur scares you to death.

But with an ever expanding global communication and social network – the reality of working from anywhere is becoming an everyday occurrence for those who want a more flexible lifestyle.   Yes, it is very possible to join the droves of global citizens that have this lifestyle – but it won’t be without sacrifices – especially in the beginning.  You’ll have to change your mindset about how you currently live and work; and you’ll probably have to reorganize your lifestyle – perhaps by cutting back on luxuries and expenses to make the transition possible.  You’ll have to think differently on how to approach your day to day schedule, and because though it will be more flexible, you’ll have to also be more focused and directed with your time to be successful as a mobile freelancer or entrepreneur.

Ready to dive in?  If so, read on.

Basic Tools You’ll Need to Make Money from Anywhere

Whether working at home, the local coffee shop or in a country of your choosing, the idea is that you need to be two things: 1) connected; and 2) mobile.  All the basics here revolve around these two factors.

Whether you can convince your current company to let you work with a “remote work agreement” or you choose to go it alone as a freelancer/entrepreneur, you’ll need some basic tools.

Here are four basic tools you’ll need to get started:

A Sturdy Laptop: you need something that’s fairly durable as it will be your workhouse traveling with you everywhere.  I recommend something sturdy with a great warranty package – I suggest 3-yr full coverage plan if you can afford it, and especially if you are mobile.  I don’t recommend a netbook because the hard drives tend to be much smaller and also have tiny screens that strain your eyes and small keyboards that strain your hands.  You’ll want as large of a screen as possible.  You might complain about the weight of it, but remember this is your mobile office, so the extra weight is worth it.  Make sure that both a webcam and mic are built in, and most laptops come with these integrated.

External and Online Backups: I can’t stress this enough – DO BOTH.  That means buying a spare external hard drive for local backups, and also using an online backup service like iDrive which gives you up to 2.0 GB for free.  Do both types of backups daily.  Losing your work, particularly if you freelance or run your own company can be devastating to your business.

NOTE: if you have sensitive information on your computer always make sure to password protect or encrypt those files, especially if doing online backups.  You may not want to back up those online for security reasons.

Solid Internet Connection: This usually isn’t an issue in modern countries, but it may be if you are in a remote location or a country with a lesser infrastructure.  If you are really serious about connecting from anywhere, you’ll want mobile broadband card.  Mobile broadband cards will be cheaper in whichever country you are living/travelling. For most situations for connecting to email, chat and basic VOIP, you don’t need more than 1.5 to 6.0 Mbps anyways which mobile broadband can get you.  Obviously, the more bandwidth you have the better.

Yourself: yes, you and your trusty skills, and don’t forget your brain, please!

If you work with small business owners or become an entrepreneur yourself, you’ll have a lot more flexibility with using some of the free tools like VOIP.  In working for a corporate company/clients you might have a more difficult time being able to use some of these tools, because of corporate standards so make sure you know what those standards are.

Now that you know what the basic tools are – let’s take a look at some of the jobs and business ideas that can potentially allow you can work from anywhere.

1)  Writer/Editor: With so many websites out there needing content, with more and more magazines and newspapers going online, there’s no shortage of requests for talented writers.  Being a writer is also great for a mobile lifestyle because you can be totally offline until you need to submit your work.  You’ll just need to gather your research and resources ahead of time to work offline.

2) Web Developer: Got a knack for or an interest in programming for websites?  This is quite easy to do from anywhere unlike a number of other jobs in the IT industry. Everything a web developer does is code-related and can be done remotely.  As a developer, you will most likely interface with clients over the phone for more advanced requests, so investing in a Skype or similar VOIP service will be very handy.

3)  Virtual Assistant: This is great for stay at home mothers, but also people who want to be their own bosses.  There’s no limit to what tasks you’ll be asked to do, so be prepared for requests from the mundane to the zany – like customer services call, making reservations, research, data entry and more.  Some even move on to managing their own teams of virtual assistants and outsourcing to other VAs.

4)  Blogger: Ah, the ever popular blogging profession.  Not a business for the faint of heart.  A blogger is not just a writer, she is a business owner.   As a blog owner you will do your share of writing, but also a large part of your time will be spent networking with other bloggers, posting on both your blog and theirs, and doing whatever you can to attract readership and traffic.  How you do make money with blogging?  The most popular form is by selling advertising.  You also might be able to sell your products or other people’s as well.  At some point, when you start making money at blogging, hiring writers and editors to help will probably be a good idea as you grow.

5)  E-Commerce Store: Have a product line or industry you are passionate about?  Maybe a product of your own you want to develop and sell?  Opening an E-Commerce store online could be the way to go.  You can often find someone willing to drop ship products you’d like to sell, so you don’t have to store inventory anywhere.  You will be taking orders online (possibly by phone), handling customer service requests and returns.

6)  Graphic Designer: Now that virtually all graphic design is done on a computer, this is a perfect mobile job or business.  Everyone needs a logo, ads designed, website images and more.  If you’re artistically talented and can deliver to client specifications, graphic design might just be for you.

7)  Translation (Writing): If you are a linguistic expert in one or more foreign languages, then you can do written translation work from anywhere quite easily.  Many businesses from those that sell products to finance companies to law firms need translators for such a purpose, and if you can charge a lower rate by telecommuting or by the fact that you live in country where the cost of living is lower, you can probably beat the local guy who needs to be there in person.

8)  Virtual Project Manager: With Outsourcing being such a thriving industry these days, you could be a remote team manager for a variety of different businesses that have projects in the works.  Check out oDesk.com for a look into this type of work, they actually are seeking people just for this role.  This might be something you could do along with freelancing on a site like oDesk.

9)  Bookkeeper: If you’ve a talent with numbers and enjoy math, why not be a remote bookkeeper?  Take some accounting courses and learn how to do the books.  Or maybe you’ve been working for the man as an accountant for too long and know you can go it on your own.  Although be careful about giving tax advice if you are not a CFA (certified financial accountant).

10)  Data Entry: Probably the least glorious of all, but still always a necessity for businesses – someone’s data always needs to be entered, combed, adjusted and cleaned up.  Just make sure that the data entry opportunity is legit and there are no upfront fees for it – sometimes these jobs can be scams.  Again a freelance job website like oDesk or Elance is a great place to start finding legitimate work.

“Scammy” job listings to avoid: filling out online surveys, assembly jobs (assembling gifts, etc), multi-level marketing, anything that asks you to pay upfront “training costs”, envelope stuffing, certain data entry jobs.  There might be some legit opportunities with some of these, but be careful in general.

Remember – if you live in an area with a lower cost of living – or even another country, you have an advantage over the local workers as far as cost is concerned.  If you can provide quality service and product to your clients, you’ll be in the running for sure.

When to Form Your Own Business

Once you begin to make money regularly, you’ll probably want to consider setting up an LLC, S-Corp or other business entity to protect you and your work.  You can do this beforehand as well, but that all depends on the type of work you are doing and your financial resources at the time.  You can save money by forming an LLC or other simple business entity online – just make sure you do it correctly.  If you are unsure, it’s always great to check with a local business or entrepreneur organization for some free advice.

So let’s wrap it up.

Now you know the basic tools that you’ll need to begin a work from anywhere lifestyle, along with some job or business ideas to get you started.  Rest assured there will be a lot of work involved, and it may not be easy.  But that never stopped anywhere from doing what they really wanted, now did it?  So don’t let it stop you if you really think it’s right for you.

Have ideas that weren’t covered here? Feel free to comment below for any ideas, questions or experiences you’d like to post about making money from anywhere.

David Hamilton (aka FPT Guy) is owner and author of Financial Planning Tips (Twitter follow: http://twitter.com/fptguy) – where you can find sensible information on personal finance for the Average Joe or Jane.  Besides being passionate about his finance blog and helping others keep their finances in check, David also enjoys playing music, staying healthy, spending time with family and friends, and traveling the world.

About the Author: Jeremy is a retirement planning specialist and founder of Generation X Finance and the guide to Financial Planning at About.com. To learn more, follow Jeremy on Twitter.

10 Ways to Make Money Online from Anywhere

These Sites Are 5 of the Best for Freelance Writers

As a freelance writer, I am always on the lookout for new ideas on how to drum up business.  In addition to broadening my skill set, regular trips to the following five websites put me into contact with potential clients, give me pointers on how to be a stronger, more effective writer, and allow me to receive feedback from my peers.

Websites geared toward freelancers are a tremendous resource for those working for themselves because you often don’t have the same support network and guidance you may receive while employed in a traditional job setting.

Where to Find Tips, Advice, and Job Leads Online

1. Poe War. This Writing Career Center offers a lot to beginning writers.  Articles about how to write a query letter and find jobs within the publishing industry are commonplace on the site and worth their weight in gold.  Each blog entry contains links and videos so that its readers can make the most of John Hewitt’s expertise.

2. Freelance Switch. Freelancers of all types will find the advice given on this website useful.  There is an hourly rate calculator, a directory and job board as well as a blog, podcasts, and other helpful tools.  A post titled, “You Know You’re a Freelancer When…” demonstrates the humorous side of working in your pajamas.

3. Women On Writing. An ezine “Promoting the communication between women writers, authors, editors, Agents, Publishers and Readers.”  Each issue follows a theme and has a variety of feature articles and resources to go along with it.  The site even sponsors seasonal fiction writing contests that are open to both genders.  I frequently print how-to articles from this site.

4. The Freelance Writing Jobs Network. Packed full of job leads, markets, and tools for freelance writers, it is one of the most up-to-date resources on the web.  Article writers, business writers, and bloggers alike can find the information that they are looking for as they visit this site.  Daily emails highlight the best jobs listed on Craigslist.  This feature saves me immense amounts of time.

5. Inkygirl.com: Daily Diversions for Writers. Debbie Ridpath Ohi’s talent for writing and drawing shines through in every entry she posts on her blog.  Her Writer’s Guide to Twitter and entries about her Wordcount Challenges are worth reading.  I especially like the sense of playfulness she brings to her website with her comics.

Writing is a very personal act.  For those individuals who seek to make a career out of it, a variety of resources can enrich their experience.  Although there are many wonderful websites to visit, I feel that these five have had the biggest and most positive impact on my life professionally.

Charissa Arsaoui is a freelance writer for ChickSpeak, Buzzine, DisFUNKshion Magazine, Student Stuff, and a guest contributor for Wisebread.  She loves thrift related topics and can spot a bargain a mile away.

About the Author: Jeremy is a retirement planning specialist and founder of Generation X Finance and the guide to Financial Planning at About.com. To learn more, follow Jeremy on Twitter.

Five of the Best Websites for Freelance Writers

Are you tired of the same boring scenery?  Do you want to make a difference in the world and travel at the same time?  Have you ever heard of a Volunteer Vacation?  If you haven’t, you are not alone.  Many people are unaware of the vast amount of opportunities made available to them through organizations like the Pacific Crest Trail Association and the United States Lighthouse Society.  What could be more fun than traveling a distance to help others in need?

Instead of spending ridiculous amounts of cash to stay in overpriced hotels and participate in run-of-the-mill sightseeing, why not explore the possibility of being a Light House Keeper or help care for the trails in your favorite National Park?  Not only will it do you a world of good to spend your summer doing something useful, it will get you out of your house and into locations that even the most seasoned traveler dreams of.

Pam Grout, author of The 100 Best Volunteer Vacations to Enrich Your Life, has created a handy reference guide for those individuals wanting to lend a helping hand but that are unsure of where to start.  Each listing has a description of the type of work available through each volunteer opportunity, a summary of costs, and the contact information of the group, institute or organization organizing the trip.  Not only will this book spark your interest, chances are, it will give you a serious case of wanderlust.

Websites like the American Hiking Society and the Gesundheit! Institute provides volunteers with ample opportunities to uplift someone’s spirit and leave the world in a better state than what they found it in.  You can find out more about program requirements and restrictions by visiting these websites or contacting the Volunteer Coordinator by email.

Other places worth looking into include:

• The Earthwatch Institute.  Scientific expeditions that include projects on ecology, zoology and archaeology
• Habitat for Humanity.  Building projects in numerous countries that help people obtain affordable housing.
• Rustic Volunteer and Travel.  Opportunities to complete projects in China, India, Nepal, Uganda, Argentina, Peru, etc.

No matter what time period you are looking at, there is a Volunteer Vacation opportunity available.  Some programs last a few days while others last a few months.  Some provide meals and accommodations at no cost to you while others charge a menial participation fee.  Whatever way you look at it, it is money well spent.  In addition to changing your life, you have the opportunity to change those around you with a simple act of selflessness and kindness.

If you’re interested in a volunteer vacation you may also be interested in caretaking as another option for traveling, vacations, or even as a career option.

Charissa Arsaoui is a freelance writer for ChickSpeak, Buzzine, DisFUNKshion Magazine, Student Stuff, and a guest contributor for Wisebread.  She loves thrift related topics and can spot a bargain a mile away.

About the Author: Jeremy is a retirement planning specialist and founder of Generation X Finance and the guide to Financial Planning at About.com. To learn more, follow Jeremy on Twitter.

Volunteer Vacations: Stylish, Affordable, and Life Changing

Finding Seasonal Jobs Can be Rewarding and Profitable

Although dated, The Back Door Guide To Short-Term Job Adventures by Michael Landes, proves to be a valuable resource for seasonal employment.  The book, last published by Ten Speed Press in 2005, contains 584 pages of information concerning “internships, summer jobs, seasonal work, volunteer vacations, and transitions abroad.”  In addition to giving details about each “adventure,” Landes provides tips that can help you reach your goals, ace that phone interview, and secure the funding that you need to make a cross-country move for the sake of employment.

He also provides sound advice in lists like “The Top Ten Secrets To Achieving Your Dream Career”.  One of the most profound statements on the list is, “Don’t spend a lifetime exploring possibilities and do nothing.  Action requires courage.”  For those individuals who have found themselves unemployed or underemployed because of a weakened economy, books like these provide access to a sound source of income as well as a number of other perks including:

• Free or Reduced Cost Housing
• Medical, Dental, Optical, and Life Insurance
• Tuition Reimbursement
• Complimentary Meals
• College Credit
• Free Tickets to Theme Parks, Free Ski Lift Tickets, Free Entrance to National Parks (depending on who you work for)

An up-to-date listing of current summer jobs and seasonal employment opportunities exists on The Short-Term Job Adventure website (www.backdoorjobs.com).

Other great sites for temporary work include: Cool Works (www.coolworks.com), Job Monkey (www.jobmonkey.com), and Snag A Job (www.snagajob.com/seasonal-jobs/).

Job seekers can work at ranches, summer camps, amusement parks, and ski resorts throughout the world.  Cruise ships, organic farms, and National Parks and Monuments are often looking for help during their tourist seasons.  For long-term travelers, short-term employment offers a reliable place to “hang their hats,” save money, and regroup before completing another leg of their journey.

Although many people view seasonal positions as work primarily intended for college students, that isn’t necessarily true.  A lot of retirees find solace working for short-term employers.  It affords them the luxury of travel and also gives them the opportunity to meet and socialize with people from all over the world.

So, the next time you find yourself searching the Want Ads in vain, explore the option of seasonal employment.  Landes says, “If you want to become an extraordinary, happy, fulfilled, and balanced person, it’s time to stop being nebulous.”  Decide exactly what it is that you want to do with your life and take the plunge.  One phone call or visit to a web address may be all that it takes to change things for the better financially and spiritually.

Charissa Arsaoui is a freelance writer for ChickSpeak, Buzzine, DisFUNKshion Magazine, Student Stuff, and a guest contributor for Wisebread.  She loves thrift related topics and can spot a bargain a mile away.

For more tips on getting a job or improving the one you have be sure to visit my business section.

About the Author: Jeremy is a retirement planning specialist and founder of Generation X Finance and the guide to Financial Planning at About.com. To learn more, follow Jeremy on Twitter.

A Beginner’s Guide to Finding and Working Seasonal Jobs

Starting a Business is Easy, but Be Sure You Treat Your Finances Wisely

Starting your own business is the holy grail for many people who’d like to get away from the 9 to 5 grind. Feeling the freedom of being your own boss while knowing that you’re entirely responsible for the success of your business can be intoxicating. As great as it is, this also means many budding entrepreneurs jump into the business quickly without taking the proper financial precautions. If you aren’t careful, the seemingly little mistakes can come back to haunt you years down the road.

So, where do you start when you’re trying to start your own business? You probably have the idea, what you want to do or produce, and probably even have a plan in place as to how you’re going to accomplish that. But what about all of the money details? What is the best business structure for your business? Do you need to borrow any money to get started? What kind of bank accounts should you have? Do you need an accountant? You may be on a shoestring budget but don’t let that keep you from doing things properly right from the start.

Choosing Your Business Structure

The most common type of business in the country is the sole proprietor. These are people just like yourself who have come up with a business idea and go out and start selling their product or idea on their own. There are some sole proprietors making just a few hundred dollars a year on the side as well as those making millions and running a large business. The reason this business type is so prevalent is that you really don’t have to do anything to start a business of this type. As a sole proprietor you and your business are one and the same which means you usually don’t have to create a special business entity, don’t have to worry about corporate taxes, and your income from the business is just viewed as your personal income.In some cases you may have to get a business license for your location or apply for a DBA, but otherwise there’s virtually no barrier to entry for this business type.

With this simplicity comes a few drawbacks. Since you and your business are one you’re opening yourself up to liability. If you borrow money for your business as a sole proprietor your personal assets are on the line if you fail to pay. If someone sues you because of a faulty product or gets hurt on your property you are personally liable. And since the money your business makes it treated as personal income and taxed as such you could be missing out on many tax breaks if your business starts making a decent amount of money. As you can see, even though running your business as a sole proprietor is the easiest route it may not be the best.

The LLC

The next business type is the LLC, or Limited Liability Company. A step up in complexity from a sole proprietorship, the LLC is a separate legal business entity created at the state level. Typically creating an LLC requires little more than verifying your business name is available and filing some paperwork with the state along with a filing fee. Each state is different so you will have to research the options in your area. In some cases this may cost as little as $25 or as much as a few hundred each year for the LLC.

From a financial standpoint the LLC operates exactly like a sole proprietorship by default. This means the income earned from the business simply flows through to you personally and is therefore treated as regular income for tax purposes. This simplicity is what makes the LLC a popular option for many small businesses, but it too comes with some drawbacks. As you earn more money from your business this means all of the business income is taxed at your personal tax rate whether you use all of the money it brings in or not. There are no retained earnings or special corporate tax rates to minimize the burden. But this is also where the LLC has some flexibility because you do have the option to have it taxed as an s-corp. This adds a new level of complexity to your business, but for higher earners it can reduce the total amount of taxes paid thanks to how payroll taxes are calculated and paid. But the scope of that discussion goes far beyond what we can cover here.

Finally, the real benefit of an LLC over a sole proprietorship for a small business comes down to liability. As mentioned above, when you’re just a sole proprietor there’s no separation between you and your business which can be a liability nightmare. The LLC takes that one step further and creates a separate legal business entity that can shield some of your personal liability. This means your business can enter legal contracts such as taking out a loan and if the business fails to pay it back your personal assets are not at stake (as long as you don’t sign a personal guarantee that is!) It could also shield some of your other assets in the event of a lawsuit, but don’t expect it to. A common misconception is that if you simply set up an LLC and do all of your business under that name you’re personally not liable. This is wrong, and as it’s explained here you generally are not protected from personal tort liability. That being said, an LLC still gives you more protection over a sole proprietorship, but it is not as bulletproof as many people make it out to believe.

The Corporation

Finally, we have the corporate business entity. Of the types of businesses we’ve discussed so far the corporation is the most complicated to set up and manage. Again, you’re creating a separate legal business entity and it requires a unique name and must be registered with the state. Filing fees are typically more than that of an LLC and there are a number of regular filing requirements. In addition, most corporations require that you register stock, maintain a ledger, hold board meetings and keep minutes, and so on. While it’s still possible for just a single person to operate as a corporation it’s a lot of tedious paperwork and record-keeping.

The real benefit here is in terms of taxation if you operate as a C-corp. Here the business income is not simply flowing through to your personal taxes and your corporation is a separate taxable entity that gets taxed at the corporate tax rates. This means you can draw a salary from your corporation while retaining excess earnings in the corporation to be taxed at a lower rate. You can also choose to pay out dividends, sell stock to investors and/or partners, and tweak how your business is owned easily.

Aside from the obvious reporting requirements there’s another major drawback for single owners operating as a corporation and that is double taxation. If you pay yourself a salary you know that those earnings are taxed. But then you have to think about the retained earnings that you will eventually be personally receiving at some point in the future. They get taxed at the corporate level first and then when passed through to you they are taxed again at the personal level. This is typically not ideal and a good reason that most small businesses are not set up as c-corps. The s-corp can eliminate some of the tax burdens, but it too has many other restrictions to consider.

Separate Your Personal and Business Finances

Once you’ve determined what type of business structure you want to use it’s time to separate your business and personal activities. Even if you’re going to be just operating as a sole proprietor where all the money is basically the same you still want to separate everything as best you can. The reasons are simple. First, it’s much easier to keep track of your business earnings and expenses if they are flowing through separate accounts. This allows you to create a clear picture of the health of your business. And second, separating your business and personal assets and activities is crucial in the event of legal action. Even a simple IRS audit can be made virtually painless if all of your transactions and money has been separated. But even more important is that once you start co-mingling business and personal finances you open yourself up to losing any of the liability protection you may have had with one of the other business structures. So, no matter how small your operation you want to keep things separate.

At the very least you need to open up a business checking account. This account should accept all of the income from the business and all business expenses should be paid from this account. Along with the checking account you should be sure to get some business checks and a business debit card for the account. You may not use them regularly, but they are good to have when you may need them.  It’s fine to pay yourself from this account, but what you don’t want to get into the habit of doing is paying some expenses with a personal credit card or deposit some business income into your personal account. The business checking should be your catch-all for any business money coming in and going out.

Next, you’ll probably want a business credit card. Even if you don’t need to borrow any money for the business it’s a good idea to have a credit card so that you can transact business safely online. In addition, you’ll probably also be able to get a nice rewards card that can give you a little cash back or some nice points. But here’s a word of warning. Business cards are not simply tied to your business, at least not when you’re starting out. You know all of those ads you see for business credit cards? They might be called a business card but when you sign up you’re signing a personal guarantee. This means if your business fails to make the payments or you’re late on a payment you are personally responsible for that debt. That’s right. Even if you sign up for a card under your LLC or corporate business name you should read the fine print. There’s about a 99% chance you’re signing a personal guarantee. That’s because your business doesn’t have a credit history established and until it does almost no bank is going to give your business itself an unsecured credit card.

So, be very careful and understand that if you’re borrowing money even under the assumption that it’s a business debt there’s a good chance you are still on the hook if the payments don’t get made. I know all too well. I had a few businesses in college that went belly up and assumed that because I borrowed money through my corporation or LLC I was off the hook. Lesson learned, and sometimes the best lessons are learned the hard way.

File for an EIN

Are you doing a lot of business online and aren’t comfortable giving out your Social Security number to those who ask you to complete a W-9 form? Yeah, me either. The good news is that you don’t have to. Instead, you can quickly and easily file for an EIN (employer identification number) with the IRS. Then instead of giving out your SSN to payees you can provide your EIN.

There are two different ways to file an EIN. You can file an EIN on your personal behalf, or you can create an EIN for your business entity. If you’re a sole proprietor the only option you have is to file one for yourself and that’s fine. But if you have an LLC you have the option to create an EIN under your name or your business. You can do both, but here’s a tip. If you’re just a single-member LLC being taxed as an LLC you’re a disregarded entity. This means for tax purposes you and your business is the same thing. You’ll notice on W-9 forms where it asks for your SSN or EIN that if you’re a disregarded entity you should enter your SSN and not your LLC’s EIN. So, that means you should have created an EIN for you personally so you can supply that number.

EINs are far more useful when you get into a situation where you’re operating with more than one person or begin hiring people, but if you’re just starting out with your business it still helps that you can give that number out instead of your SSN in most cases.

Learn About Your Taxes

When you work for someone else your tax situation couldn’t be easier. You generally get a paycheck that has federal, state, and FICA taxes all taken out automatically. Then at the end of the year you get that handy W-2 and punch the numbers into some tax software. When you’re self-employed things aren’t so simple. In most cases you’re going to be operating as a sole proprietor or LLC and that means you are sharing the income with your business and not drawing a salary or generating any W-2 or having taxes withheld. Instead, it’s up to you to keep track of your income, expenses, and pay quarterly estimated taxes and figure in self-employment tax. Not to mention the new tax filing deadlines.

One of the biggest mistakes most new business owners make is they fail to prepare for the quarterly estimated taxes in the first year. For one it can be hard to estimate how much you might owe, but for many people they start the business sometime during the year and just don’t think about setting up estimated taxes. Business owners quickly learn of their mistake come tax time and see a big tax bill. The problem is if you fail to make these estimated payments you can open yourself up to penalties from the IRS. So, take some time right from the beginning to try and estimate your income and expenses the best you can and begin making those estimated quarterly tax payments.

It’s not just about paying self-employment tax and making quarterly payments, but now that you own a business you’ve opened the door to many new tax breaks you may not even be aware of. Self-employed individuals often overlook many common deductions such as business use of the home, mileage when using your car for business purposes, and even basic things like all of the office supplies and items you use every day for your business. Don’t let the seemingly small deductions fool you. If you’re entitled to them, take them. They add up and these deductions can significantly cut tax burden.

Deciding on an Accountant

Since your business can complicate your finances it is often helpful to hire outside help. Now, if you’re just selling a few widgets on the side to make a few extra bucks you probably won’t need an accountant, but if you’re entering into the world of self-employment for the first time and it is going to be your sole source of income the advice from a professional can be incredibly valuable. At the very least, finding a CPA to help with your taxes can pay for itself.

An accountant can come into play at various times in your business. Sitting down with a CPA during your initial business creation stage can help you choose the right business entity for your needs right from the start. They can take a look at your current financial situation, what you expect to accomplish with your business, and then guide you to the business structure that makes the most sense and saves you the most money. After using them to start out you may not need their help again until a later date.

While you probably don’t need someone to manage your books for you when starting out, you should at least consider using one for tax advice. Remember, they are professionals who deal with taxes for a living so they are going to be extremely helpful when it comes to saving you the most money on taxes. Now, there’s nothing wrong with using free tax software to do your own business taxes as they ask a lot of the right questions, but there are many things that will still go overlooked if you don’t sit down with someone who knows about your specific situation. And it’s not just about finding all of the deductions, but they can help guide your business and put a plan in place to minimize your tax burden for years to come.

Don’t Forget About Retirement

A lot of self-employed people have the mindset that they love what they do so much that they will probably never retire. While it’s true that if you love what you do you probably won’t want to stop, it’s foolish to think that your feelings won’t change 30 years from now or that you’ll even be physically able to continue working even if you want to. So, retirement planning and saving can’t be pushed to the back burner just because you’re now working for yourself.

If you came from the working world you probably had access to a 401(k). Now that you’re on your own you may not think much about the fact that your 401(k) is gone. Considering the generous contribution limits of 401(k) plans compared to Traditional or Roth IRAs if you don’t set up something else you’re very limited in how much you can save each year. Thankfully the IRS allows the self-employed to utilize some special retirement vehicles. Two of the most popular options are the SEP and Solo 401(k). These plans could allow you to contribute up to $49,000 a year. And if you have recently left your job to pursue your business be sure to roll over your 401(k) so that you can take control of the retirement assets you do have.

So, IRAs are great, but with such low annual contribution limits you’ll probably want to do something else as well. Explore your options and set up a self-employment retirement plan to put your goals on track. Even if you love what you do there’s a good chance you’ll still need money for your golden years.

About the Author: Jeremy is a retirement planning specialist and founder of Generation X Finance and the guide to Financial Planning at About.com. To learn more, follow Jeremy on Twitter.

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Working Remotely is the Holy Grail for Many Workers

Travel is liberating.  It allows us to experience places and cultural happenings beyond our wildest imaginations.  It puts things in perspective and gives us countless stories to recant to friends and family members who want to know what it feels like to dip their toes in the ocean, live out of a backpack or suitcase, and visit outdoor marketplaces where fruit and vegetables are sold by the bushel and where independent artisans weave rugs, handcraft jewelry, and paint portraits under the watchful eyes of tourists.

Travel lightens our spirits while toughening up our skins.  It teaches us to be patient and resilient and encourages us to live in the moment, a place often void of modern conveniences like BlueTooths and Cheez Whiz.  Travel takes us to new spiritual levels, provides us with fresh sources of inspiration, and forces us to think outside the box and to improvise.

For those that are inexperienced, long-term travel can cause anxiety.  There are a few reasons why people feel apprehensive.  Work and family obligations can limit a person.  Lack of financial resources can also damper an adventurous spirit.

Rather than forgo the trip of a lifetime, why not consider applying the skills and experience that you learned in the workplace to your new life on the road?  You would be surprised at how easy it is to be an excellent employee from any location in the world.

Nora Dunn, a freelance writer and “professional hobo”, enjoys stable income while she treks across the globe.  In addition to creating content for a number of websites and magazines, she has traded skills in order to secure accommodations.  One of her most memorable experiences involved milking goats.  She has also painted murals, led eco-treks, and landscaped yards in exchange for a place to sleep.

She offers this advice to fellow travelers:

Even if you don’t work in trade for accommodation, travel in general is an exercise in flexibility and having an open mind. It may not be a matter of life and death, but it will certainly affect your ability to “survive” the trip and come out the other side feeling fulfilled.

Negotiating a remote work location with your employer is far easier said than done.  It often requires a positive attitude and persistence.  Here are a few arguments to take to the boss:

• Some people double their efficiency by removing distractions.  You happen to be one of them.  Your track record speaks volume.  Not only are you a valued team player, you also know how to work alone.

• Your people skills are exceptional.  You know how to communicate with people from all backgrounds.  You may even know a language or two that will help you with your travels.

• You are irreplaceable.  You know your position inside and out.  There is no sense spending money on recruiting and training another individual when you can do your job from any corner of the globe.

Once you have agreed upon a plan, exceed expectations.  Communicate frequently with your employer.  Meet all deadlines and turn in quality work.  There is no excuse for failed internet connections or downed phone lines.  Have a backup plan just in case you run into any problems while abroad.

Living your travel dreams is possible with some assistance from your employer.  Keep a steady stream of income available to fund your journey by coming up with a plan that allows you to work remotely.  A week’s vacation in an exotic location pales in comparison to years of traveling and living in the country or countries of your choice.

Jeremy’s comment: As Charissa has explained, working remotely can be very rewarding. As you’re reading this I’m doing some remote working of my own. In addition to this blog I’m also a writer for About.com and work with Bundle as an editor, but guess what? I’ve been driving across the country over the past week while still using technology to work remotely regardless of where I am. It’s great! No longer am I bound to the office and I’m able to get all of my work done while enjoying the sights away from home. I know not every job has this type of flexibility, but it is becoming more and more common. At the very least, it might be something worth discussing with your employer if it’s something that interests you. The worst that can happen is they say no.

Charissa Arsaoui is a freelance writer for ChickSpeak, Buzzine, DisFUNKshion Magazine, Student Stuff, and a guest contributor for Wisebread.  She loves thrift related topics and can spot a bargain a mile away.

About the Author: Jeremy is a retirement planning specialist and founder of Generation X Finance and the guide to Financial Planning at About.com. To learn more, follow Jeremy on Twitter.

How to Negotiate Remote Work With An Employer

Telecommuting is a practice being adopted by companies around the globe as a way to lower overhead costs and foster better relationships with employees. I wish telecommuting was an option with my old employer, but it still required a lot of face-to-face interaction. I did have a lot of flexibility and some benefits mentioned here, but not to the extent of being completely mobile. That being said, now that I am 100% self-employed I do have virtually all of these reasons to be thankful for. Even just a few weeks in, I can already feel the benefits.

In addition to greater flexibility, higher levels of productivity and overall job satisfaction, telecommuting is ideal for the following reasons:

• Little to no face-to-face contact with a “boss”. Although communication is key, nearly all methods of “checking in” are virtual which increases efficiency and lowers stress levels.

• More control over your work environment. You call the shots.  If you produce better results while listening to 80s Hair Bands on your iPod, so be it!  You can do your work from the comfort of your own home, the healthy buzz of your local coffee shops, or your outdoor patio or garden area.

  

• A schedule that fits your needs not your employer’s. Take that extended vacation that you planned without your world crumbling around you.  Attend your son’s Little League game without hassle from your boss.  Get up early or stay up late finishing up projects according to your preference.

• No unnecessary added expenses. Skip the commute, wear your most comfortable clothes, brew your own coffee, and make lunch from scratch using the items that you already have in your kitchen.  Working from home helps you reduce costs and gives you tax breaks beyond your wildest imagination.

• More variety in work assignments. Mundane tasks given to you by your “superiors” are delegated to people who work locally not remotely which give you the opportunity to complete several projects at one time.

• You can raise your own children. Forget about daycare.  You can tend to your little ones and still maintain balance between your personal and professional life.

• Increased job security. You can juggle multiple streams of income efficiently when you work from home.  By keeping yourself organized, you keep yourself out of the unemployment line and gainfully employed even if one endeavor doesn’t pan out.

No matter what your underlying reason for working from home may be, rest assured that more individuals and companies are considering the pluses of telecommuting and freelancing.

Explore your options and see what kind of arrangements can be made with your current employer before striking out on your own.  You never know.  You may ask yourself later on why you didn’t think about doing this sooner.

Charissa Arsaoui is a freelance writer for ChickSpeak, Buzzine, DisFUNKshion Magazine, Student Stuff, and a guest contributor for Wisebread.  She loves thrift related topics and can spot a bargain a mile away.

About the Author: Jeremy is a retirement planning specialist and founder of Generation X Finance and the guide to Financial Planning at About.com. To learn more, follow Jeremy on Twitter.

Seven Reasons Why Working from Home May Be Ideal For You

Almost any type of freelance work is filled with its ups and downs. At times, you might find quite lucrative jobs that pay well for your efforts, while other work might have you burning the midnight oil for just a few bucks. That’s the downside of freelancing, as well as what creates the excitement of the work. Even with lower paying jobs, you never know what they might lead to down the road. Your hard work and effort might not seem like it’s paying off, but through dedication to your craft and word of mouth, you might be building future employment for yourself without even knowing it.

That being said, there is are a variety of differences among freelance design websites, and you don’t want to be wasting away your hours on work for a site that won’t provide returns on your time commitment. Here are a few sites you might want to check out, but, just as with any freelance work, it is important to practice due diligence and read plenty of unbiased user reviews before jumping into work with an unfamiliar employer.

Elance – This job board has a massive variety of jobs available from around the globe. Your biggest problem with this site might be sorting through the immense number of projects and picking the ones that will fit and pay you best. Their feedback, ratings, and summaries can serve as your guide in decision-making regarding the jobs on which to bid.

Freelance Switch – While not offering the variety and huge selection of Elance or some of the others on this list, sometimes that can make life easier. When I last checked the site, there were thirty job postings, ranging from freelance writing to logo and website design. At the time of this writing, a subscription to the site is $7 a month.

Freelancer – The web address for this site is still getafreelancer.com, but the site itself is now billed as freelancer.com. There is plenty of work here, but be aware, while membership is free, according to the site: “Freelancers pay 10% or $5 (whichever is greater) of the total bid/funds received.”

iFreelance – Depending on the level of membership you decide upon, monthly fees for this site can range from $4.69 (basic membership) to $9 (gold membership). However, according to the site, you pay no commission, and you receive unlimited leads on available projects. Consult their Member Benefits and Pricing page for further and current information.

Fresh Web Jobs – Offering full time and freelance work, Fresh Web Jobs might not have the huge selection of some other sites, however; the majority of the job openings have full descriptions and requirements. It appears that employers pay to post their job openings here, leaving users fee free.

Web Designer Wall – Focused purely on web design, Web Designer Wall is a smaller listing site. Similar to freshwebjobs.com though, the website seems to push its operating costs off onto the job posters rather than charging freelancers a commission, membership or subscription fee to apply for work.

Krop – This is a focused site for matching serious talent with real projects. This site is for professionals who have a well-established background in the industry. If you’re just breaking into freelance web design, this might not be the best place to start your search for work.

37signals – Check out 37signal’s Tech/Design Job Board to see what’s happening on the web design job front. While there are fewer available positions as compared to some other freelance sites, their postings appear to be with quite reputable (and often well-known) employers.

Guru – At Guru’s freelancer page, you can selection from a variety of technology-based positions. A quick scan of their easy to search database of available positions will give you a good feel for the type of projects out there as well as the compensation being offered for the work.

Craigslist – Of course I couldn’t leave this one off the list. Craigslist can be a great place to find just about anything – including freelance web design gigs.

Sitepoint – The Marketplace at SitePoint is a tad reminiscent of Craigslist. The site’s no-frills style classified listings are pretty straightforward and there’s a constant supply of new job offers coming through.

Authentic Jobs – Similar to Krop and 37signals, Authentic Jobs is geared specifically toward web professionals. Their site can be sorted by full-time, freelance or all available positions, the majority of which look for definite background qualifications and experience.

Odesk – There is much more than just freelance web design work offered at Odesk. Last time I checked, out of the more than 10,000 listings, more than 4,000 of them were related to web development.

About the Author

Kris is a freelance writer working for an Australian website that offers an easy comparison of credit cards with a large choice of cards featuring 0% interest on balance transfers and more. To read more of his writing about personal finance and money management hacks, check out their blog, The Credit Letter.

About the Author: Jeremy is a retirement planning specialist and founder of Generation X Finance and the guide to Financial Planning at About.com. To learn more, follow Jeremy on Twitter.

13 Job Websites & Boards for Freelance Designers to Find Work

Secret shopping has been given a bad rap lately.  Websites that promise “to pay you to shop” and then make you jump through hoops or sign up for their sponsors’ offers have done damage to reputable companies like Strategic Reflections, Beyond Hello, and Jancyn, who are hired by businesses to evaluate the level of customer service that they receive when frequenting their stores or hiring their services.  In fact, secret shopping scams are so prevalent that the people who ordinarily seek out sources of side income find themselves wondering whether a company is legitimate or not.  This article serves as a primer for those interested in working as a secret shopper by dispelling the myths commonly associated with independent contracting.

FACT: Secret shopping is a real, reputable way to make extra money.

FACT: Secret shopping allows you to work around your busy schedule.

FACT: You are in control when you’re a secret shopper.  You can accept as few or as many shops as you want and make as much money as you want.

Although it seems too good to be true, companies all over the globe are looking for people just like you to provide honest, objective feedback about the level of service that you receive at the businesses that you frequent on a regular basis.  For a few minutes of your time, you can receive compensation for your efforts in the form of cash, free merchandise and services.  A viable form of self-employment, secret shopping has its share of benefits.

Completed at a leisurely pace, secret shopping can supplement your income or take the place of a full-time job.  Making use of your keen eye and observant nature, you can leave behind the nine-to-five grind and live the kind of life that you have always dreamed of.  That is, if you heed the advice given here.

Throughout this article, I will address the topic of secret shopping and provide tips that will not only make you money but ensure that your hard work and efforts aren’t wasted.

Secret shopping is a legitimate way to make a living.  With a little time and some carefully worded direction, you too, will be on the road to becoming a successful secret shopper.

What is Secret Shopping?

Secret shopping is an inexpensive way for companies to obtain accurate feedback on the people that they employ and the service that they provide.  Big corporations hire secret shopper companies to observe their businesses so that they can expose problem areas and address customer concerns.

Secret shopper companies then assign projects to various Independent Contractors throughout their area and give them a time frame to complete their work.  Project guidelines are either posted on the company website or sent to the shopper’s email account.  Upon receipt of the shop, the company then compensates the contractor for their time and any of the items that they were required to purchase.

Finding the Right Companies to Work For

Websites stating that you can “get paid to shop” often require a fee to use their services and be registered in their databases.  Do not consider working for a company that charges you!  There are plenty of companies willing to hire you for free.  Make sure to check out their websites:

Trendsource

Shoppers Inc.

Service Intelligence

About Face: World’s Premier Shopping Company

Jancyn

A simple web search will help you identify which websites are legit and which ones are not.  Remember your objective.  You are looking to increase your income not your expenses.  Do not pay a fee to access databases containing secret shopping company information.  Visit a free website like Walletboosters for an updated list instead.

Secrets to Success

Secret shopping is a wonderful way to earn income.  If your current job isn’t as flexible and you would like it to be or doesn’t pay enough, adding a couple of assignments a month will surely help you in the long run.  Working for more than one company will also give you better opportunities.  This is especially true if you live in larger cities where secret shoppers are abundant.

Keeping Track of Paydays

Paychecks are usually cut once a month but some companies pay more frequently.  It is helpful to learn what payday is for each company you work for.  Keep track of the shops that you have completed and the pay for each one in a notebook or on a calendar.  No one likes to work for free!

Also remember to have money up front to purchase items.  This may be a requirement for a shop. Most companies reimburse you for your purchases.  There are no exceptions to this rule.  If you don’t have $10 to spend on lunch or merchandise from time to time, this is not the job for you.

Making the Most Out of Phone Shops

Some shops pay really well while others pay considerably less.  Some shops must be done in person while others can be completed over the phone.  It is best to do a lot of phones shops if you have free long distance or a fixed rate phone service.  An exceptionally large phone bill will squelch any desire to do phone shops in the future.  If you are concerned about this, it may be best for you to purchase a prepaid calling card or use a service like Skype or the MagicJack.

Super Supplies That Will Aid You in the Process

Having a few inexpensive supplies on hand will help you in the long run.  Purchasing a cheap stopwatch is a necessity.  Do not forfeit your reputation by not completing a shop correctly.  It is better to earn less for a shop than nothing at all.

It is easy to get confused if you work for several companies.  Record the due date of each assignment on the calendar.  Also, make sure to list the shop’s fee and the company’s pay period on there as well.  Keeping your glove box stocked with extra pens and paper will eliminate confusion.  A pocket sized notepad that can be carried and written in discreetly is also a wonderful tool for you to have.

Owning a digital camera will give you an advantage because most companies require strict documentation of the things that you observe.  Photo shops often pay better than others because they do require more work.  The smaller your camera is, the easier it is to conceal.  Keeping your identity anonymous is crucial and one of the most important things to remember when secret shopping.  Never reveal yourself unless instructed to do so by the company that you are working for.

Every company has established its own criteria for assignments.  In order to fill their needs, you must carefully read the instructions for each shop before completing it.  Gather all the supplies you need before hand and pay attention to the time frame given to you to finish the shop.  If problems do arise, contact the scheduler immediately.  Remaining communicative with the company that you work for is an absolute necessity.  Reliable internet and phone service is a must if you wish to work in this profession.

Make Big Bucks Referring Friends

Not every shop will fit into your schedule.  That’s where your friends and family come in.  By referring those to the companies that you work for, you accomplish two things.  You give the people you’re the fondest of extra income and the companies that you work for will pay you a referral bonus for each eligible shopper that you sign up.  Referrals=extra income.  The more people that you refer, the greater the chance you have to make additional money.

A big push for companies to improve their procedures has caused the secret shopping industry to swell with opportunities.  With a few simple tools, these tips, and the desire to succeed, you, too, can start a career as a secret shopper today.

Charissa Arsaoui is a freelance writer for ChickSpeak, Buzzine, DisFUNKshion Magazine, Student Stuff, and a guest contributor for Wisebread.  She loves thrift related topics and can spot a bargain a mile away.

About the Author: Jeremy is a retirement planning specialist and founder of Generation X Finance and the guide to Financial Planning at About.com. To learn more, follow Jeremy on Twitter.

How to Become a Successful Secret Shopper and Supplement Your Income

When it comes to making extra cash, the internet has a lot to offer its users.  Online auction sites provide members with a place to peddle goods and services and social media networks like Twitter and Facebook make it possible to self-promote with ease.  Those individuals with a knack for the written word can find legitimate, paid work-at-home opportunities online.  In fact, those writers wanting to gain exposure and line their pockets with cold hard cash may find the following five websites useful:

1. Demand Studios. Write instructional articles on a variety of topics including: Animals, Arts and Entertainment, Computers, Health and Fitness, Home and Gardening, Sports and Recreation, and Travel.  Paychecks are disbursed twice weekly to your PayPal account and top paying articles are worth $15 a piece.  You can also select revenue share articles which earn significantly more over the course of a year and pay out once monthly.
2. Textbroker. Anyone can write for Textbroker.  Search through their database of available topics and choose the one that best fits your interests and knowledge level.  Write the article, submit it, and elect a payout once your account has reached $10.  Payments occur bi-weekly and are sent to the PayPal account address registered on the site.
3. Quality Gal. Article topics are specific and require knowledge of hypertex, or linking back to educational and governmental websites.  Due to the amount of work involved, Quality Gal pays up to $12 for each article that is approved.  Once weekly, writers submit an invoice and QG submits payment via PayPal.
4. Content Current. Topics usually involve knowledge of Search Engine Optimization and require a specific word count.  Significantly lower in payment than other websites, Content Current offers writers routine work and the chance to participate in Forum Boosting.  Payments are received weekly through the writer’s PayPal account.
5. EDUBook. Unlike other websites, article topics are pre-assigned.  Each member receives four to five articles at a time.  Once that batch is completed, he or she can request additional assignments.  Pay is $5 an article or $25 a batch and compensation is received electronically through PayPal once a week.

Aspiring writers needn’t go broke pursuing their literary dreams. While companies like Demand Studios and Textbroker exist, they do not offer the big payout that feature writers are accustomed to.  They can, however, pay for groceries or generate enough extra money for a rainy day.  Whether you are looking for an additional source of income or researching opportunities to leave the rat race altogether, becoming an independent contractor and working for the aforementioned companies is a wise move in any economy.

Keep in mind that as you become a more established freelance writer you may find many writing opportunities by marketing your services directly on many of the blogging job boards or sites like Elance. But in order market your services you really need to have a solid portfolio of work to show prospective clients, so using the sites listed above are a great way to begin building your online writing portfolio.

Charissa Arsaoui is a freelance writer for ChickSpeak, Buzzine, DisFUNKshion Magazine, Student Stuff, and a guest contributor for Wisebread.  She loves thrift related topics and can spot a bargain a mile away.

About the Author: Jeremy is a retirement planning specialist and founder of Generation X Finance and the guide to Financial Planning at About.com. To learn more, follow Jeremy on Twitter.

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