Taxes.
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- grafiske
Tricks? Tips? For Freelancing W-2 totin' M-Effers.
I am about to itemize a printout of my credit card purchases (no receipts just the statements - risky I know) and I am not sure the best way. Any ideas on that?
Gracias.
- e-pill0
hire an accountant that specializes in the understanding of the law and its loop holes for designers in your state.
give them all the receipts you have and they will advise what you need and dont.
in general its wise to keep all receipts for 7 years, just in case an audit surfaces and you need that info.
thats about it.. get the accountant.
- grafiske0
E Pill. While I think this is sound advice. I am piss poor and I don't have receipts.
I plan on just using the turbo tax guidelines for what I can claim. I am just wondering how specific I should be with my records (which are from an annual report of my credit card.
- e-pill0
ok from my knowledge, you can right off a percentage of your spending during that fiscal year if you freelance.
food is not counted as an expense anymore. at least not for new york state.. but client meetings are.. the govt doesnt need to know you ate with your friend, as long as you have the receipt to prove it..
"the prove it" is only done if they audit you.. other than than do not expense more than your means, also any donations keep that receipt.. a donation can be clothing, old furniture, anything, just get a receipt from the church/ goodwill/ hospital so forth...
i understand that you are under financial difficulties.. perhaps you can find an accountant that would lower their fee and base the work around you financial stability..
you should try to find an accountant weather you have the funds or not, a lot of them will give out free advice.. since at this moment the yare sooo over worked that their minds are all over the place..
you can take advantage here.. and work it to your benefit..
just a brain storm..
carry on..
- bigtrickagain0
my accountant charged me $175 and he got me a $2k return last year.
just saying.
- this is exactly what i mean..
find an accountant, they can get you money back!!e-pill
- this is exactly what i mean..
- inkpink0
and if you can't afford an accountant, go to a "book keeper"... for a small business tax return will be the same service at half the cost.
really worth the extra 100-250$ talking it through with someone who knows what they're doing. and by the sounds you REALLY need some help.
the savings they find could be in the $1000's.
- grafiske0
Okay okay. Who has a good accountant for me? Contacts?
I did ask advice on this a long time ago! I did not keep receipts because I FUCKED UP! I hate receipts, by instinct I throw them away. I am sorry Dad.
- grafiske0
I guess my thing with an accountant is I want to claim all this credit card statement bullshit.
Maybe I will get audited, but I made jack shit, so???
- inkpink0
if you're going to bullshit it with statements go to an accountant with your expenses already totaled and categorized onto an excel sheet or something. but you'll have to get advice somewhere on how to do the above. or google "how to prepare expense reports" or something.
- vaxorcist0
My accountant saved me tons, but not just money.. saved my sanity, as I had no real idea how to amortize cost of equipment,etc..
- e-pill0
since your items are all on the credit card, can you contact the company where you purchased the items and have them re-make the receipt? this might be helpful for you..
- grafiske0
Possibly, but it would be dozens of companies, and I imagine the process may become more of a task than it is worth. I will consider this though.