Whether you call it “freelance,” “self-employed,” or “contractor”… there are some undeniably great things about working for yourself. You can set your own hours. You have the option of saying “no” to work that doesn’t interest you. And casual Friday takes on a whole new meaning.

Of course there are challenges, not the least of which is making sure you have enough clients and enough work to make freelancing worthwhile for you. But beyond business basics, there are challenges many don’t appreciate until they actually wade into the freelance world.

Read more at Mass Mutual: Freelance Finances: The Tax Challenge