Before You Go
These questions are for YOUR accountant who knows YOUR country's tax rules. Tax laws are different everywhere. What works in the US does not work in Brazil does not work in the UK.
Do not skip the meeting just because you are scared of the answers. The tax bill is coming either way. Better to know now than panic later.
Bring a notebook. Write down the answers. You will forget half of this the second you leave.
Category 01
The Basics
What percentage of my income should I set aside for taxes?
This is the most important number you need to know. Without it, you are guessing. Get a specific percentage based on your income level and where you live. Put that much aside every single time you get paid.
Do I pay taxes quarterly or once a year?
Some countries require quarterly payments. Others let you pay once a year. If you are supposed to pay quarterly and you do not, you get hit with fees. Find out your schedule and put the dates in your calendar right now.
What happens if I miss a payment or pay late?
Know the consequences before they happen. Late fees, interest, penalties. Understanding the cost of being late helps you prioritize paying on time.
Am I required to register my business or can I work under my own name?
In some places you need to register as a business. In others you can just work as yourself. This affects your taxes, legal protection, and how you invoice clients. Get clear on what is required in your situation.
Category 02
What You Can Write Off
What business costs can I write off?
Software, tools, equipment, office supplies, website hosting. Ask for a full list of what counts as a business cost in your country. You are probably missing things you could be writing off.
Can I write off a home office? If yes, how much?
If you work from home, you might be able to write off part of your rent or mortgage. But the rules are specific. Some countries let you write off a percentage, others require a dedicated room. Get the exact rules for where you live.
Can I write off meals or travel when I meet with clients?
Business meals and travel might be deductible. Or they might not. Or only partially. The rules vary wildly by country. Find out what you can claim and what records you need to keep.
What about my phone and internet? Can I write those off?
If you use your phone and internet for work, you might be able to write off part of the cost. Ask what percentage you can claim and what proof you need to keep.
What receipts and records do I actually need to keep?
Some things need receipts. Some do not. Some need detailed records. Find out exactly what you need to save and for how long. This prevents you from scrambling during an audit.
Category 03
How to Track Everything
Do I need separate business and personal bank accounts?
Mixing money makes taxes a nightmare. Find out if you are legally required to separate them or if it is just smart to do. Either way, get a clear answer on best practice.
What bookkeeping software do you recommend for someone like me?
Your accountant has seen what works and what does not. Get their recommendation based on your country and business size. Do not pick software randomly and hope it is right.
How often should I be updating my books?
Monthly? Quarterly? After every payment? Find out how often you need to track income and costs so you are not scrambling at tax time.
What financial reports should I be running for my business?
Profit and loss statements, cash flow reports, balance sheets. Ask which ones matter for your situation and how often to look at them. This helps you actually understand if your business is healthy.
Category 04
Getting Money Out
How should I pay myself? Set salary or just transfer money when I need it?
The way you pay yourself affects your taxes. Some structures require a regular salary. Others let you take money out whenever. Get clear on what makes sense for you.
Should I keep money in the business or take it all out?
Leaving money in your business account might have tax benefits. Or it might not. This depends on your country and business structure. Ask what is smarter for your situation.
What is the most tax smart way to handle a really good month?
When you make way more than usual, taking it all out might push you into a higher tax bracket. Ask if there are smarter ways to handle big paydays.
Category 05
What Not to Do
What are the most common mistakes you see freelancers make?
Your accountant has seen it all. Ask them what trips people up most often so you can avoid those exact mistakes.
What would get me audited?
Some things raise red flags. Big deductions, certain types of costs, inconsistent income reporting. Find out what makes tax authorities pay attention so you can either avoid it or make sure you have proof.
If I get audited, what happens? What do I do?
Knowing the process makes it less scary. Ask what an audit actually looks like, what they ask for, and what your accountant does to help. This is also when you find out if your accountant will represent you or if you are on your own.
What records do I legally have to keep and for how long?
Some countries require 3 years. Some 7 years. Some forever. Know exactly what you have to keep so you are not throwing away stuff you might need later.
Category 06
Thinking Long Term
Should I be putting money into retirement? How does that affect my taxes?
Retirement contributions might lower your tax bill now. Or they might not. Find out what retirement accounts are available for freelancers in your country and if they make sense for you.
At what income level should I change my business structure?
Working under your own name is fine at first. But once you hit a certain income, forming a company might save you money. Ask at what point you should consider changing and what the benefits would be.
When should I talk to you again? Once a year? More often?
Some accountants want quarterly check ins. Others only need to see you at tax time. Find out how often they recommend you meet based on your situation.
What should I do differently next year based on this year?
After your first year, your accountant can see patterns. Ask what you should change, what you should track better, or what moves would save you money going forward.