As a freelancer, you are an all-rounder. In addition to your area of expertise, you take care of financial planning, customer loyalty, sales and much more. Some tasks are difficult to delegate to third parties. But some tasks are better left to a professional if you are not working in one of the areas yourself.
Most freelancers can easily prepare a revenue-surplus invoice for their tax return. This is easy because you only have to deduct expenses from the income to calculate the profit. Nevertheless, I let a tax consultant do the accounting. This not only saves me the time-consuming recording of the individual amounts. Every month I receive a business assessment in which all my sales and expenses are listed in detail in individual categories. This allows me to see at a glance which domestic or foreign sales were received (important because of VAT), how much I spent on materials or external services and what my liquidity is like. For me, as a graphic designer, it is hardly possible to produce a business assessment at this level of detail within a reasonable time frame.
2. Tax return
Basically, it’s simple. Income – expenditure = taxable income. But how can a freelancer claim a car for tax purposes? Is it cheaper to keep a logbook, or better to apply the “1% rule”? Which expenses can I claim in the pension expenses and how is it if I still have a side job?
The subject of “taxes” is too complex to learn about in passing. The situation is further complicated by the fact that tax regulations change regularly.
At the beginning of my freelance work, I wanted to save the costs for a tax consultant. In the end, I cautiously did not claim some expenses, although it would have been possible. It would have been worthwhile to hire a tax consultant.
3. Corporate design
On many computers, graphic programs are already pre-installed. Also, the offer of free graphic programs is almost unlimited. Most of the programs offer a huge pool of templates for nearly all media. Especially in the start-up phase, the expenses for a good graphic designer seem to be avoidable, because you have the tools (software) for it yourself. What could be more evident than to try it yourself with your own logo, letterhead or business card design? If necessary, you can also use a template.
Since I am a graphic designer myself (creating the corporate design myself) I would like to give you some points that a good graphic designer considers besides an aesthetic graphic design:
- Check if selected colours, fonts etc. work on different media
- Design appropriate to the company/person (A good design communicates the values and philosophy of the company/entrepreneur)
- Examination of the protectability of the company logo (can it be registered in the trademark register?)
A specialist is needed to implement these points. In addition to aesthetic design, communicative elements also play a central role in a successful appearance. Later changes of the corporate design are expensive, as previous print media become useless, and the innovations have to be communicated to the customers.
Even as a freelance graphic designer, it can be worthwhile to delegate design tasks for your own company to get a new view from the outside.
It is clear that the drafting of general terms and conditions of business, shareholder agreements or contracts for work with a high volume of orders belongs in the hands of lawyers. Particularly gaps in the regulation of liability can be fatal for freelance work. In contrast to the legal form of a Ltd., a freelancer is liable with his entire assets in the event of damage. Make sure that your contracts are reliable and have them drawn up or at least checked by a lawyer.
How do you feel about outsourcing? What tasks do you delegate?