Maybe it seems a little early to start thinking about doing your taxes, but it’s been my experience that the sooner you get on it, the less stressful it can be. Thankfully there are people and web sites out there to help us slot all those numbers in the correct places on the correct forms and keep us from having to visit with a friendly IRS agent because we’ve gotten “creative” with the numbers. Here are 7 links to help you understand how to do your taxes:
- The IRS — this one seems rather obvious. It’s their forms, their rules, so it makes sense to check out their site for answers to our questions.
- Tax Advice for Writers by Bonnie Lee — simple to read and easy to understand with a great section on hobby-loss information
- A Fool And Her Money — depending on when you’ve started getting your tax-related material together, The Money Book may be more helpful for next year’s tax season, but it’s a resource worth investing in
- Tax Tips for Writers a guest post by Jessica Monday — more information on what can be used as a deduction including what can happen when you sell your house
- Writers by Peter Jason Riley, CPA — a break down of basic deductions and free downloadable checklists specifically for writers
- Tax Tips for Freelancers by Julian Block — a short, but excellent article on bad-debts that can’t be deducted
What Every Self-Published Author Needs to Know About Taxes by Helen Sedwick — information on treating your writing like a business and what that entails
Doing taxes can be frightening and overwhelming, not to mention disappointing if you have to pay instead of getting a nice refund, but it’s unavoidable.
I’d love to hear from all of you. Besides checking with a good tax accountant, what other tips do you have for doing taxes?