Biting the tax bullet

Last weekend the financial crisis hit home in a different way when I found myself in the strange position of having to write a sizable check to the IRS for the first installment of my 2009 Estimated Tax. My first response was “barf” – it was a pain in the ass to calculate and represents a big chunk of cash I hate to part with. However, I got over it a bit when I realized that:

A. if there was ever a time that the US Treasury can use my paltry contribution to the nation’s coffers it is now; and

B. since this is the first year I am making a truly livable wage as an independent contractor, I want to avoid any IRS issues by paying on time (especially upon discovering that penalties can be applied for paying late).

In my research, I found this handy list of 101 Tax deductions for bloggers & freelancers that I wanted to pass along for those who are just starting out or in need of a refresher course. As always, internet advice does not replace individualized advice from a qualified professional and I recommend using an accountant who specializes in independent artists.

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One Response to “Biting the tax bullet”

  1. Mike Harmon Says:

    Well said. Great information, keep up the great work!