Latest news with #freelance
Forbes
14 hours ago
- Business
- Forbes
Freelance or Full-Time? How to Choose Your Next Career Move
Should You Go Freelance Or Hold Out for Full-Time? I was recently laid off with some severance, which gave me some cushion in the job search. I know the job market is a slog though, so I wanted to make sure my skills are kept sharp not just for my next job but really in the long run. I am considering setting up an editorial and content strategy consultancy, so that at least I have recent projects that can continue to be valuable to potential employers. Would setting up a whole new business get in the way of actually seeking a job? Is that dividing my attentions/efforts into competing buckets? In a perfect world, if I knew I could not fail, I would set up my own consultancy offering fractional editorial leadership, from content strategy to execution, but I also don't know if I have what it takes to be a solo entrepreneur. – Experienced Journalist The best next career move is not a one-size-fits-all. It depends on your interests and priorities, as well as your runway for how long you can hold out for what you want (e.g., money you have to support yourself, emotional capacity to live in the uncertainty). It also depends on opportunities available to you – if you're an AI expert and getting multi-million dollar offers, you may want to ride that wave. This journalist asks about launching a business or looking for a job. When you're unemployed, that is your first fork in the road. Do you hedge your bets and try both? Or go all-in on one option? Why You Should Focus On One Option – Either Freelance Or Full-Time A big part of landing your next opportunity will come down to networking -- whether you're establishing a business and pitching your first clients or interviewing for jobs and pitching prospective employers. If you're pursuing both, you risk sounding undecided and therefore less attractive to either clients or employers. Even friendly networking contacts may be hesitant to refer you or just get confused about what you want help with (i.e., new business or job leads?). In addition to networking confusion, your branding may seem unfocused if you're speaking to clients and employers at the same time. Your LinkedIn profile plays a prominent role in your next move, and you have only one public profile. Your resume, networking pitch, and even professional references also need to be tailored to a next step. Why You Don't Have To Choose And Should Pursue Both Freelance And Job Search That said, there are professionals at different levels, in different roles and across industries who have managed to hold a traditional job and build a side hustle at the same time. The potential networking and branding hurdles are not insurmountable. You will need to show that you can perform as both a consultant and in-house and that you're genuinely interested in both. A big benefit to you of pulling that off and pursuing both business launch and traditional job search is that you broaden your chances for finding your next thing. If you're like this journalist who is not 100% sold on entrepreneurship, pursuing both is a way of experimenting before having to decide. Another big benefit is a speedier route to getting hired. Your next business client as a freelancer or next employer as a full-timer might be the same organization, so making yourself available to both a consulting assignment and traditional job can make it easier for that organization to say Yes. It gives them options, in case their budget is for outside vendors or for a permanent headcount. It gives the organization a try-before-you-buy option, as they can bring you in for a limited time or single project and then convert from temp to permanent, full-time. It also gives you a try-before-you-buy option, and you might decide to stick to consulting or hold out for another employer. How To Maximize Your Career Potential In Today's Job Market Today's job market has been linked to chaos, competition and uncertainty (yikes!). This gives the edge to Team Both – pursue freelance and look for a job. For each opportunity you consider, make your pitch less about the mechanics of consulting versus in-house and all about the best way to solve the problem your client/ employer is facing. Preview your solution, and emphasize your expertise – whether you come in as a freelancer or full-time employee is secondary to the fact that you will help them. In your networking and branding, keep the focus on your results – how you get paid is secondary to getting results. As you build up your business, you may find that landing a job is something you can layer on top of your existing business. In an uncertain market, having options is critical for moving forward. In a chaotic market, multiple sources of income is the foundation of career security.
Yahoo
2 days ago
- Business
- Yahoo
These 5 Tax Hacks Could Get You Audited
It can be hard to sort the legit financial advice from the sketchy, especially when you get your advice online. If someone is recommending an easy 'tax hack,' this should be an immediate sign to stop and do your research, or get professional advice, before you follow suit. Some of these hacks could get you audited and cost you money down the road. Find Out: Read Next: Tax experts explained which tax hacks to avoid and which to use carefully so you don't get audited. Claiming All Rent or Mortgage as Home Office Deduction For self-employed people or those with a freelance side hustle, you're already on the IRS' radar, because it's easy to call things business deductions that aren't. While you are legally allowed to write off a portion of your rent or mortgage based on certain criteria, according to Robyn Little of The Little Tax Co., you should not try to deduct your entire rent or mortgage payment. 'Listen, the IRS is not green to what people are up to — and trying to beat the system usually just gets you flagged. What people think is a hack is often just a shortcut to an audit,' Little said. Learn More: Claiming Mileage, Meals and Other Non-Business Deductions Again, while you are legally allowed to write off some expenses such as mileage, meals and home office expenses, these have to be truly qualified business write-offs, and a lot of people try to fudge these, Little said. Other personal expenses masquerading as business deductions include calling a vacation a 'work trip,' or writing off beauty supplies and memberships, according to Hector Castaneda, CPA, founder and principal at Castaneda CPA & Associates. 'Similarly, most people think you can write off gym memberships, haircuts and makeup. While there's an exception to almost everything, those costs are generally non-deductible unless they can be proven to directly improve your business,' he said. '[The] IRS sees through that quickly,' he added. Claiming a Super Low Income If you report a 'super low income claiming big refunds' this can raise red flags with the IRS 'especially if your numbers don't make sense with your lifestyle,' Little said. For example, if you're claiming $15,000 in business expenses but taking luxury trips every other week (and posting about it on your social media), the IRS might come knocking. Underreporting Income From Payment Apps Additionally, underreporting income, specifically if you get paid through software's like PayPal, Cash App and Venmo, is a 'sure fire way to get a nastygram from the IRS,' Castaneda said. 'They'll get a copy of the income you report and yours should always be either higher or the same because of the cash component. Simple calculation errors or even information that doesn't match the IRS records (e.g., address changes, name changes, dependent changes) are the easiest ways to get flagged for further review,' he said. Rounding Numbers on Your Return If you're rounding numbers up or down to fudge details or even just make your accounting simpler, this is likely to get you into trouble, 'Because real expenses don't come out in even numbers. If your return is full of $500s and $1,000s, it looks like you're making stuff up,' Little said. It's better to keep actual receipts and use real numbers, not guesses. Caveat Emptor Take all the online influencer tax tips with a grain of salt, Little insisted. 'Just because somebody went viral doesn't mean they're giving accurate tax advice. A lot of folks are just posting for engagement, not facts.' Castaneda added, 'The smartest thing you can do when you hear these 'tax gurus' speak is first verify their credentials.' Always run it by a legit tax professional before you try anything you see online. Some of these 'tips' will land you in trouble. Do This Instead Avoid hacks and instead keep your receipts, track your income and only write off what you actually use for business. 'Don't try to beat the system — learn how to work within it. There are legal ways to save, you just have to know the game and play it smart,' Little said. Better yet, 'Bring all of your tax information to a trusted tax professional, have support for everything and, even then, you could still be audited,' Castaneda said. However, an audit is not concerning if you can substantiate it. More From GOBankingRates Are You Rich or Middle Class? 8 Ways To Tell That Go Beyond Your Paycheck This article originally appeared on These 5 Tax Hacks Could Get You Audited
Yahoo
2 days ago
- Business
- Yahoo
I asked ChatGPT for Prompts To Find High-Income Side Gigs — Here are the 6 Best
For the past several years, the gig economy has been neck and neck with full-time work in the race to see where you can make the most money. However, with so many opportunities available — from rideshare driving to freelance writing — finding a great side gig that boosts your income without overwhelming your schedule is like finding a pot of gold. Luckily, ChatGPT has entered the… chat. Read Next: Find Out: With just a little strategizing, it doesn't seem to matter what your long-term job title is because you can just go where the extra money takes you or where artificial intelligence (AI) directs you. If you are ready to start raking in some extra dough, here are six specific and user-friendly ChatGPT prompts you can enter to find that high-paying side hustle you've been searching for. Prompt 1: 'Identify High-Income Skills Relevant to My Background' First, you should figure out what you're good at because you might have skills you've never thought to monetize. These can include everything from a data visualizer to social media management. Start by asking ChatGPT to identify high-income skills relevant to your educational background, work experience and hobbies. For instance: 'Can you identify high-income skills relevant to a degree in graphic design and a passion for digital art?' This prompt will help ChatGPT tailor its suggestions to your unique skill set, making the side gig search more personalized and effective. If you were a teacher, this would be the lesson plan stage of execution. Discover More: Prompt 2: 'List Remote Side Gigs for [Your Skill]' In today's digital age, remote work is not just a convenience; it's a game-changer. After identifying your high-income skills, you should ask ChatGPT for remote side gigs that match those skills. Replace '[Your Skill]' in the prompt with your specific talents, such as coding, writing or graphic design. For example: 'List remote side gigs for software developers with expertise in mobile app development.' This prompt will help you discover remote opportunities that fit your schedule and skill set, all from the comfort of your home. Prompt 3: 'How To Start Freelancing as a [Your Profession]' If you're new to the freelancing world, this prompt is for you. Replace '[Your Profession]' with your area of expertise to get tailored advice on launching your freelance career. For example: 'How to start freelancing as a digital marketer?' ChatGPT can provide a step-by-step guide on setting up your freelancing business, from creating a portfolio to finding your first clients. Prompt 4: 'Find Upcoming High-Paying Gig Economy Trends' Since staying ahead of the curve is key in the gig economy, consider asking ChatGPT about upcoming trends in high-paying gigs to find emerging opportunities before they become saturated. You can try writing: 'What are the upcoming high-paying gig economy trends in 2025?' This prompt can uncover new and potentially lucrative areas to explore, giving you a first-mover advantage. Prompt 5: 'Recommend Online Courses for Advancing in [Your Field]' Investing in yourself and your education is important for staying competitive. If you're looking to level up your skills, ask ChatGPT to recommend online courses in your field. For instance: 'Recommend online courses for advancing in digital marketing.' ChatGPT can suggest a variety of resources, from free online courses to comprehensive certification programs, to help you grow your skill set and increase your earning potential. Prompt 6: 'How To Network Online for [Your Side Gig]' Most successful people know that networking can be the key to unlocking some of the best opportunities. To find out how to expand your professional network online, try tailoring this prompt to your specific side gig or field. For example: 'How to network online for freelance graphic designers?' This prompt can lead you to strategies for building valuable connections in your field, from joining specialized online communities to attending virtual networking events. Final Take To GO: ChatGPT Can be a Money Maker The bottom line is that finding a high-income side gig might seem daunting, but with the right approach and resources like ChatGPT, it's entirely within your reach. It may seem counterintuitive to ask a robot thought-provoking questions to assist you on your career path, but ChatGPT does seem to be able to steer you toward areas where you can earn extra income. No matter if you work as a part-time project manager or produce social media content, chances are AI can help you find an income stream that suits your skills. There are many different career paths you can take if you are clear about your objectives. Use these prompts as a starting point to explore your options, enhance your skills and connect with opportunities that align with your career goals and lifestyle. More From GOBankingRates 7 Things You'll Be Happy You Downsized in Retirement This article originally appeared on I asked ChatGPT for Prompts To Find High-Income Side Gigs — Here are the 6 Best Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
I Asked ChatGPT How To Get Rich Off of Bitcoin — Here's What It Said
A surefire way to get rich off of bitcoin is a time machine back to 2015, when the cryptocurrency's price hovered around $200. Today, that price has ballooned to an all-time high above $18,000, meaning it has risen more than 90-fold in a decade — a return that could make you very rich indeed. Check Out: Read Next: However, since time travel isn't an option, you'll have to figure out other ways to get rich off of bitcoin. We asked ChatGPT how to do that: Buy and Hold As ChatGPT noted, investors who bought bitcoin a decade ago and simply held on to the investment have enjoyed 'massive gains.' Like stocks, bitcoin has experienced volatility through the years, but its long-term trajectory has always been up. It's all but impossible to predict when an asset might have peaked. Given bitcoin's history, though, it seems likely the price will keep pushing higher well into the future. In fact, some experts have suggested bitcoin's price could reach $200,000, $500,000 or even higher. I'm a Self-Made Millionaire: Day Trading This strategy involves buying and selling bitcoin frequently to take advantage of price dips, and then profit off them. This is a 'full-time job' if you take it seriously, according to ChatGPT, and will require both technical expertise and an ability to buy on margin. Bitcoin-Earning Platforms Another ChatGPT suggestion was to earn bitcoin through services or products such as freelance gigs and e-commerce. This essentially means you're getting paid in crypto rather than cash. You can accept bitcoin as payment through platforms like Bitwage or Lolli, but you'll need to drum up lots of business to get rich off of it. Bitcoin-Related Investments This strategy involves buying stocks of companies involved in bitcoin, like Coinbase and MicroStrategy, or exchange-traded funds that track bitcoin. This is a less direct (and less risky) option compared to buying bitcoin directly, according to ChatGPT. No matter how you decide to pursue riches through bitcoin, ChatGPT recommended being on the lookout for certain risks, including the following: Scams: These are 'everywhere in crypto,' so beware of someone offering easy or guaranteed profits from bitcoin in exchange for your money. Regulatory risk: Governments could impose stricter rules on crypto in the future, which might hurt its value. However, this is unlikely to happen under the pro-crypto Trump administration. More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard How Much Money Is Needed To Be Considered Middle Class in Your State? Mark Cuban Tells Americans To Stock Up on Consumables as Trump's Tariffs Hit -- Here's What To Buy This article originally appeared on I Asked ChatGPT How To Get Rich Off of Bitcoin — Here's What It Said Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
I Asked ChatGPT How To Get Rich Off of Bitcoin — Here's What It Said
A surefire way to get rich off of bitcoin is a time machine back to 2015, when the cryptocurrency's price hovered around $200. Today, that price has ballooned to an all-time high above $18,000, meaning it has risen more than 90-fold in a decade — a return that could make you very rich indeed. Check Out: Read Next: However, since time travel isn't an option, you'll have to figure out other ways to get rich off of bitcoin. We asked ChatGPT how to do that: Buy and Hold As ChatGPT noted, investors who bought bitcoin a decade ago and simply held on to the investment have enjoyed 'massive gains.' Like stocks, bitcoin has experienced volatility through the years, but its long-term trajectory has always been up. It's all but impossible to predict when an asset might have peaked. Given bitcoin's history, though, it seems likely the price will keep pushing higher well into the future. In fact, some experts have suggested bitcoin's price could reach $200,000, $500,000 or even higher. I'm a Self-Made Millionaire: Day Trading This strategy involves buying and selling bitcoin frequently to take advantage of price dips, and then profit off them. This is a 'full-time job' if you take it seriously, according to ChatGPT, and will require both technical expertise and an ability to buy on margin. Bitcoin-Earning Platforms Another ChatGPT suggestion was to earn bitcoin through services or products such as freelance gigs and e-commerce. This essentially means you're getting paid in crypto rather than cash. You can accept bitcoin as payment through platforms like Bitwage or Lolli, but you'll need to drum up lots of business to get rich off of it. Bitcoin-Related Investments This strategy involves buying stocks of companies involved in bitcoin, like Coinbase and MicroStrategy, or exchange-traded funds that track bitcoin. This is a less direct (and less risky) option compared to buying bitcoin directly, according to ChatGPT. No matter how you decide to pursue riches through bitcoin, ChatGPT recommended being on the lookout for certain risks, including the following: Scams: These are 'everywhere in crypto,' so beware of someone offering easy or guaranteed profits from bitcoin in exchange for your money. Regulatory risk: Governments could impose stricter rules on crypto in the future, which might hurt its value. However, this is unlikely to happen under the pro-crypto Trump administration. More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard 25 Places To Buy a Home If You Want It To Gain Value Mark Cuban Tells Americans To Stock Up on Consumables as Trump's Tariffs Hit -- Here's What To Buy This article originally appeared on I Asked ChatGPT How To Get Rich Off of Bitcoin — Here's What It Said Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
