Sort of. I am discovering right now the glorious tax paperwork that occurs when you have, you know, actual business expenses. And this is just the basic stuff, too. I’m not even getting into claiming my amortized computer time or whatever it’s supposed to be. I figure the esoteric stuff can wait for later, when I have a handle on reporting things.
Moe Lane
PS: Buy my books!
When the writing biz starts picking up, I’d strongly recommend looking at hiring someone to do the tax prep for you. The tax code is littered with landmines and easy-to-miss reductions (by design, I’d assert if I were wearing the aluminum foil hat). I did our household taxes for years, even when we were a double wage-earner household. But once the missus’s biz started up, I looked at all the additional BS required, and I took a hard pass on doing it myself.
It’s 10X more complicated and dangerous for the self-employed. It’s almost as if they want everyone to be a wage-slave.