Thinking Ahead: Taxes

taxes

You can’t start too early. Taxes are a nightmare for the freelance writer. Every year I say I’m going to get things going early. Every year it’s a dash to the finish line. But not this time folks…I’m starting now. I’ll gather my write-offs, get my paperwork in one spot and plan my attack. I’m encouraging you to do the same. Here are a few tips from my own personal experience. Take ’em or leave ’em:

  • Get an accountant. Doing taxes yourself is not a good idea if you are self-employed. You aren’t being frugal–you are playing with fire. A good accountant can help you find deductions you didn’t know you had and advise you for the future. It is worth the money–and it is a write-off anyway.
  • Do a little organization at a time. Collect your 1099’s and put them in an envelope. Make a list of questions that you want to ask your accountant. Chipping away at things really does help.
  • Brush up on information. Surf writer sites and gather information about what the latest write offs are. Even if you have an accountant, you’ll want to know what you can bring in for them to look over. The rules change.
  • Get things in place for 2009. Put a notebook in your car so you can start a mileage log for business trips. Get a ledger to keep track of expenses. Open a business checking account if you don’t already have one. Make things easy for next year!