Expense boundaries every freelancer should set

A practical way to separate business and personal spending from day one.

Working method

Mixed spending is the fastest way to lose deductions. Give the business its own account and card, pay yourself a fixed draw, and photograph receipts the day you get them so nothing depends on memory.

Step 1

Open a separate business account and card

Step 2

Pay yourself a fixed monthly draw

Step 3

Photograph receipts the same day

Written by Mara Rowe at Tally & Rowe.