“It’s income tax time again, Americans: time to gather up those receipts, get out those tax forms, sharpen up that pencil, and stab yourself in the aorta.” - Dave Barry

Hello, fellow tinkerers! 👋

End of Q1. Tax deadlines looming in the U.S. What a time, huh?

1) Reflection:

Last year, I started thinking about goals differently. Instead of tracking anything on an annual basis, I started setting quarterly goals. Like "What do I want to get done this quarter?" (and tracked my progress in Notion). 90-day plans make my goals feel much more manageable. I'll usually plan a few quarters out (like a roadmap), but only focus on accomplishing things in the current quarter.

You can read more about 90-day goals here.

2) Product

Lots of self-employed people I know keep their business expenses low. And I get it: the less overhead you have, the more profitable you are.

But if you're running your own business, you should also think about products, apps, and tools that make your job easier. Your time is literally money. And some things you pay for might improve your mental health or your connection to other people (like paid communities, for example). Here are some things in my freelance budget that are worth every penny.

Plus, business expenses are a tax write-off. 😁

3) Tip

A friend of mine was working on her taxes as a freelancer and told me that she spent four hours gathering information for her accountant. She asked if anything would ease this process (and she doesn't use accounting software).

And yes! I told her to set up some folders in her Google Drive. Some information — like her LLC formation docs — she will likely only need to provide one time (unless she changes accountants). I told her to set up separate folders for anything else, like receipts, quarterly tax payments, etc. When I provided documentation to my own accountant this year, it probably only took 20 minutes, max, because everything was already organized.