Monday, December 3, 2007

Getting Ready for the Tax Man...

Hey Freelancers!

It's December and it's time to start getting things ready for the tax man. Sure the 1099's won't show up until January, but you still have things to do. Like gathering those receipts...

Sure we all try to be as organized as possible, but you and I both know there are some receipts sitting in a pile or file somewhere. Get them out, figure out what they are and mark them.

Find yourself a good accountant if you need to. I have a sneaking suspicion I could've gotten more money back if I had used an accountant instead of my tax software from home. I'm going to see about admending my return from last year... Many freelancers will most likely be able to do their own taxes if their info is pretty straight forward, but if you're claiming a home office and other somewhat complicated items I suggest you get yourself a accounting buddy before the busy season hits.

Don't make too many plans. Most publications/employers will get these out by the 15th of January, but others will take until the last possible moment to send yours. Why? It's not like they don't know the end of the year is coming...

Don't forget to gather your mileage log and utility bills bills as well. Getting these things together now will ensure you don't start your year with tons of OLD work to do. Tax time is stressful enough!

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