Comments on Freelancing and Taxes...

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I don't have that problem...

yet...since my declared income for 2005 is less than 2000 dollars. Financial aid moneys don't count, until I start getting graduate fellowships anyway...since I have not taken any work study money all I have to dclare is my tutoring income...which is good since I have enough other stuff to stress about.

Depression sucks though, for sure, hope you feel better soon...

posted by jimmy68 on January 21, 2006 at 12:58 AM | link to this | reply

ugh... I hate doing taxes as it is,

but since picking up a few freelancing clients, it looks like I will have to get on the quarteryly bandwagon.

posted by homegirl on January 20, 2006 at 4:55 PM | link to this | reply

I have all my tax stuff in one drawer in a file..two actually

one for the return the other for quarterly payments. I also have a reminder on the calendar...though I used to have mom around to nag me too... I'll miss that.

posted by Whacky on January 20, 2006 at 3:26 PM | link to this | reply

Just make sure you're in the "reasonable" range.

posted by -blackcat on January 20, 2006 at 2:41 PM | link to this | reply

I've read that the more deductions you take the more likely you are to be

audited.  I'm sure this is crap, but it has me leary!

I also have a guy that I can't get to give me a 1099, what should I do about that?!

posted by RachelAnna on January 20, 2006 at 2:27 PM | link to this | reply

Yes it's true you should try and get all the deductions you are entitled too. I had so many that my taxable income became puny

posted by Azur on January 20, 2006 at 1:45 PM | link to this | reply

What I find is that most people don't take all the deductions they're

entitled to.  As a freelancer, you have many job related costs that you should be sure to include.

posted by -blackcat on January 20, 2006 at 1:18 PM | link to this | reply

I hate doing the taxes.

posted by FactorFiction on January 20, 2006 at 1:09 PM | link to this | reply