Five Year-End Tax Tips for Freelancers

These tax tips can help avoid IRS audits and possibly have you paying less taxes as a freelancer this year.

Calendar desk 2023 is the month for the organizer to plan and deadline with an alarm clock on a wooden table background
(Image credit: Getty Images)

Some freelancers dread tax season, but following these tips can help smooth the process when it’s time to file your 2023 federal income tax return. Taking the appropriate steps before December 31 could also help you pay less taxes as a freelancer this year. It’s sometimes possible for freelancers to pay less income tax than they would have as an employee (Thank you, tax deductions!). But this is not always true. 

 Here’s what you should know. 

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Katelyn Washington
Former Tax Writer

Katelyn has more than 6 years of experience working in tax and finance. While she specialized in tax content while working at Kiplinger from 2023 to 2024, Katelyn has also written for digital publications on topics including insurance, retirement, and financial planning and had financial advice commissioned by national print publications. She believes knowledge is the key to success and enjoys providing content that educates and informs.