Next new toy/tax writeoff!
Toy to come
It looks like I'll be inheriting the photographer position at the hot air balloon company I work for, not a bad gig, it is separate from the company its self, so self employment and a good bit of extra income :D that requires a few tax writeoffs each year, I guess that new mac I have been drooling over will come too! |
Taxes
As self empoyed it is true that you can write off a lot of things, but there are also potential problems unless you follow the laws. Make sure you pay your self employment taxes (Social security taxes--15 per cent of profits). That of course is added to the normal income taxes.
Lee |
You mean socially skrewed tax? :rolleyes: that is the reason I like to write as much as possible off :D I can live on bread and water under the 3rd St. bridge if need be :p
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Quote:
KNOW their rules, and USE them to your advantage!! You really need a good accountant to make it work best. ( and he's deductable), Most of the past,"major investments", in my business were between Christmas and New years eve, to take advantage of the tax breaks.( and I keep my 'day job'), and run those investments against my income, for the tax breaks.. Jerry |
On a side note, that is one good looking Nikon camera! :)
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