Hi Folks.. Newbie by Fire here again...
Which method works for you and why?
I worked with an accountant, prior to starting my business, but I had earned enough doing odd jobs that I had to report and pay taxes on my self employment. I did not like the way he handled it, lack of communication, perhaps he just wasn't knowledgable about self employment taxes.
Then I tried Turbo Tax, and did something wrong and ended up owing Uncle Sam in the following year as it all caught up to me.
Currently, I have items I'm looking to write off as deductions while filing this April, and I'd love YOUR FEEDBACK.
I'm moving the family room office to a designated home office [thank u hubby!] with 4 walls, and its all for me! At this point, I need some small office equipment and computer software specifically a shredder, new desk, or add' storage solutions ie filing cabinet, Quicken Books].
Also needed are a 2nd [cell] phone line, web design, association memberships, etc, and my plan is to find what I can write off prior to purchase.
Currently I have pending projects due for 2 clients, and a long term contract with a client who just asked me for an invoice. I just read that I could save all my parking receipts in order to write them off as a travel expense, so the more I read, the more I realize I DON'T KNOW.
So I am a SELF EMPLOYED contractor who takes on short term projects to establish a stream of income. I need every write off possible, but yet I'm hesitant to trust a CPA to find some buried write offs, vs Turbo Tax asking me a bunch of questions.
Your thoughts? Cmon chime in.. you know you want to!
Thanks in advance!
This aspect of the biz is terrifying to me because I don't want to mess with Uncle Sam's money, and I certainly don't want Uncle Sam messing with mine!