Avoiding Tax Surprises as a Freelancer
Stop stressing over tax season! Discover how the freelancer Gabby Ianniello uses Novo Reserves to automate her tax savings, ensuring she’s always prepared. Set it, forget it, and focus on growing your business.
If you’re a freelancer, you already know: tax season isn’t a season — it’s a year-round stressor. Staying on top of what you owe can feel like guesswork…until it’s too late. The IRS doesn’t care that your cash flow fluctuates. And manually transferring money? Easy to forget.
When I first started my business, managing finances was a guesswork for me. I’d get paid, and it would feel like I was doing okay—until the moment I had to pay rent, taxes, or some other expense I had forgotten to plan for. You know that sinking feeling when you realize you haven't set aside enough to cover your next big payment, or worse, when it’s tax time, and you’re scrambling to figure out where the money will come from? That used to be me, constantly playing catch-up.
I knew I needed to be more organized, but I didn’t have a system. I’d have money in my account, but I couldn’t track where it was supposed to go, which led to anxiety every time an expense popped up.
Novo Reserves solves this by letting you automate your funds directly from your income. You can create a dedicated “Tax Reserve” right inside your Novo account and automatically funnel a portion of your revenue into it.
I have 30% of my income that goes towards my tax reserve… It’s all automated, so I don’t even have to think about it.
That 30% is no accident. Freelancers are advised to allocate at least 30% of their income for taxes to cover self-employment and income taxes effectively.
Let me show you how this feature transformed the way I manage my money and eliminated a lot of the stress that used to keep me up at night.
Novo makes it easy to stay ahead, so when tax time comes, the money’s already there — no scrambling, no surprises.
With Novo Reserves, you don’t have to stress about taxes. Just set it, forget it, and focus on what actually grows your business.
Stay Connected with Gabby
Gabby Ianniello is the host of Corporate Quitter Podcast. She helps people create an exit strategy so they can leave corporate for good.
