Freelancing Risks and Resources
This assignment measures Module Objective 5.1, which supports Course Competency 6.
Objectives
- 5.1 Identify three financial, legal or professional risks of freelance work and one way to reduce each. (Course Competency 6)
Overview
Freelancing is a legitimate path in the creative industries, and it carries real financial, legal and professional risks. This assignment names those risks and what you would do about each.
5 points, Exercises. About 1.5 hours.
Instructions
- Read the sections below on freelancing, pro bono work and internships, scope creep and taxes.
- Browse at least two of the resources listed below.
- In the Canvas text box, identify three financial, legal or professional risks of freelance work and one way to reduce each.
- Then evaluate, in three or four sentences, whether freelancing fits the goals in your Personal Goals Statement, giving two reasons.
What is Freelancing?
Freelancing is self-employment, you take projects from multiple clients rather than working for one employer. In creative industries many people freelance by choice or by necessity while building toward a full-time position.
Pro-Bono Work and Internships
You may encounter unpaid opportunities as a new graduate. Evaluate each carefully. A structured internship alongside an experienced professional can legitimately build your resume. But if they cannot explain what you will learn, or if the tasks are just free labor, walk away.
Scope Creep
Scope creep happens when a project grows beyond what was agreed upon, more revisions, new deliverables, without additional pay. A clear project brief and contract are your primary defenses.
Taxes
As a freelancer you pay your own taxes. Set aside 25-30% of every payment and pay quarterly estimates to the IRS. The IRS self-employed tax center explains the process.
Resources
Accessibility
Write your answer with a short heading for each part if you use a document.
Submission
Write your answer in the Canvas text box.
Rubric (5 points)
| Criterion | Points |
|---|---|
| Three risks, each with one specific way to reduce it (Objective 5.1) | 3 |
| Evaluation tied to the Personal Goals Statement, with two reasons (Objective 5.3) | 2 |
| Total | 5 |
Due
All times are Arizona time.
- Due in Canvas: Thursday, March 25, 12:00 p.m.
- Hard close: Friday, March 26, 12:00 p.m. Work submitted after the deadline and before the hard close loses 10%. Nothing is accepted after the hard close.