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Thread: taxes?

  1. #1
    Senior Member Cheyennedaisy's Avatar
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    Default taxes?

    Is there a good explanation anywhere on how to do your taxes as an independent contractor and how to right off clothes and expenses?

    Thanks

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    God/dess shanna dior's Avatar
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    Default Re: taxes?

    Depends what country you're in. If you're totally lost when it comes to taxes and write-offs, hire an accountant for the first year.

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    Default Re: taxes?

    hire an independent accountant anyway. its just a little more expensive than turbo tax and they know all the loopholes. when I was in school I was able to write off so much shit I got money back from the gov every year and now that im not in school I still pay essentially nothing.

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    Senior Member Cheyennedaisy's Avatar
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    Default Re: taxes?

    so should I hire an accountant now, I live in the USA, how do I know what receipts and what not to keep

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    Default Re: taxes?

    Quote Originally Posted by Cheyennedaisy View Post
    so should I hire an accountant now, I live in the USA, how do I know what receipts and what not to keep
    my accountant doesn't require receipts, just keep track of how much you spend in a ledger and keep track of how much you are claiming. make sure you ask before you see an accountant that they will cover any audit for you. you don't need to see one till next year before April 15

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    God/dess shanna dior's Avatar
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    Default Re: taxes?

    ^You really ought to be keeping receipts of expenses you're writing off in case you get audited. OP - err on the side of caution and save any receipt you think might be deductible. It'll be much easier to bring a lot of them to the accountant and learn for next year than to not have the deductible ones at all.

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    God/dess britneyireland's Avatar
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    Default Re: taxes?

    I wrote about this a while back.
    Here is the itemized list of what I routinely wrote off
    http://www.howtostrip.org/how-to-do-stripper-taxes.html
    Rebecca Avalon







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    Default Re: taxes?

    Quote Originally Posted by shanna dior View Post
    ^You really ought to be keeping receipts of expenses you're writing off in case you get audited. OP - err on the side of caution and save any receipt you think might be deductible. It'll be much easier to bring a lot of them to the accountant and learn for next year than to not have the deductible ones at all.
    like I said, my accountant covers any audits (tho ive never been audited and neither has anyone I know). most of my receipts are digital anyway but my point is that finding a great accountant is priority #1 and going neurotic over saving receipts comes later.

  10. #9
    God/dess shanna dior's Avatar
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    Default Re: taxes?

    ^100% agreed on finding a good accountant! But if OP isn't planning on doing that until closer to tax season and doesn't have mostly digital receipts, she may as well just toss the relevant ones in a box for now so she's not SOL once she gets to the accountant.

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