Quote:
|
Originally Posted by rickdog777
If I were you I would setup with a payroll company, that way they handle all your taxes. You won't have to worry about anything. The other thing you can do since you work out of your house is right that off. You can right off your interest you pay on your mortgage, also any money you contribute to an IRA is fully deductible and a deduction for Adjusted Gross Income. So if you don't spend all the money you make, you should look into an IRA, it's 100% deductible and you will not pay taxes.
|
Unfortunately I only live in an aparment right now, so can't write that off. I am definitely looking into IRA, I am in my mid tewnties and not getting younger, so gotta think about retirement. I heard that SEP or SERP's are bettr for self employed people though, I think, but either way I gotta look into that.
I have to file an amendment for sure. I just realized I forgot to write off domain renewals and designers I paid. Cannot believe I forgot that, that's what I get for being unorganized. So stupid of me.