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RE: Everyone In The World WANTS You To FAIL.

in #life8 years ago (edited)

I can sense that was a bit more emotionally charged than most of your posts, always good to get it out.

This will probably pain you, but pay someone to do your taxes. I used to do my taxes and I was somewhat qualified to do so, but once the day trading/real estate stuff came in (read: self empoyed/own business) I messed it all up and cost myself money. My account refiled the two years prior and got me back a junk of money when I first went to him and I'm still using him years later.

Preferably find a local account who someone, anyone can give you a reference for. Ask the owner at local coffee shops who they use if you have to, they are usually better than going to an HR Block or the like. Though those can be serviceable enough if you don't get the "new guy" lol.

If you are concerned of cost, ask for a price quote they should know what forms they will need to do based on the business activity you tell them.

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@scaredycatguide I agree with you on the subject of finding a licensed preparer particularly if you own a business. I also agree that person should be local. One resource to find licensed preparers is on the IRS website. Basically when a licensed preparer applies for their PTIN, they are added to a list on that website. I would start there when researching for someone in your area, then ask about them. Spend your time developing art and product rather than wasting your time in an unprofitable area like tax prep which someone can do better in a fraction of the time.

Your right! I should find someone. I guess I get a little scared. I'm a very private person, So handing over my financial records and explaining how my business works is a bit scary.

Just going to someone even once will help you set up systems to make your record-keeping easier in the future. Think of your tax preparer as part of your business team. And as a business, you may be surprised how much can be deductible, especially for an artist and writer, if you have kept good records. Your taxes may be lower than you think. It also helps to understand the difference between your self-employment taxes and your income taxes, and mentally keep them separated in any frustration. Good luck - and once you get your system set up, I hope you'll feel a lot better!

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