Freelance Taxes
Out of context: Reply #7
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- bulletfactory0
i'll have to look at my last bill, but their services are deductible on next year's taxes.
An accountant will know the ins and outs of deducting things like internet connection, a portion of your rent or mortgage for home office, depreciation on equipment and deductions of new equipment, all the way to gas, business meals etc. Also it's a good idea to pay quarterly taxes, since all or most of your the freelance income has not yet been taxed - I've been hit for a few grand in taxes which sucked. They know how to legally get you the best deal.
Oh, someone correct me if i'm wrong, but go to a tax professional. Anyone can give you tax advice, and figure your taxes (at least in my state), but don't have to guarantee any of their work by law.
A licensed CPA on the other hand will have to back their work legally (if you're audited or something), you're not left high and dry.