As a freelancer, you need to be constantly aware of tax considerations. There is a fine line between freelancer and an employee and you must be sure your advisors understand the details of that or you could end up with huge tax liabilities. One area that few consider is GAAR, the government’s General Anti-Avoidance Rule, under which things that look legitimate according to the tax rules are deemed to be counter to the rules.
At the same time, cash flow for a freelancer has the potential to be very volatile, with time blocks of strong cash flow for several months and then no cash flow in between. Hence cash flow management is a key component of the strategy for any freelancer.
Now that you are looking for professional involvement, contact us for a free initial consultation on how we can help you achieve your financial goals.