Of all the things I love about working from home and being self
employed, filing taxes and the IRS are THE worst! I sure look forward to seeing
how the universe will work this out for me. I’ll have to come up with a
different strategy for the upcoming years, cause this one ain’t working!
Not only did my company earn $70K in year two, but I was able to secure work for friends and family, or "Framily" as some might say. How would you like to drive around YOUR neighborhood, and beyond, collecting data and photographs? Can you submit an online report with 10, 15, or 20 questions? That's part of my job that's pretty easy, but then I have to put on my "Accountant's Hat". That is where I fail miserably. I must admit that I'm a graduate school drop-out, due to Business Math. Sigh.
Not only did my company earn $70K in year two, but I was able to secure work for friends and family, or "Framily" as some might say. How would you like to drive around YOUR neighborhood, and beyond, collecting data and photographs? Can you submit an online report with 10, 15, or 20 questions? That's part of my job that's pretty easy, but then I have to put on my "Accountant's Hat". That is where I fail miserably. I must admit that I'm a graduate school drop-out, due to Business Math. Sigh.
Next time, I should just pay my PI… up front! Can you say,
"Bitch betta have my money?" I owe, I owe, so it's off to work
I go!
Working from home does not give one a free pass. Working from home means just that - work. Be it 5am, 5pm, or midnight, work must be done and I (you) must do it.
Working from home does not give one a free pass. Working from home means just that - work. Be it 5am, 5pm, or midnight, work must be done and I (you) must do it.
Now let me gather myself so I can get 'er done!
2 comments:
Yep being self-employed for many years now. The most frustrating thing to learn was the quarterly taxes once you get to a certain level.
The gotcha there is if a lot of your income comes in within a certain quarter. so Q1, Q2 negligible amounts, Q3 30% and Q4 60% of income comes in and then they look and say your income was X but you didn't pay quarterly taxes so its fines and taxes. When 90% of your income came in the last two quarters.
Just one of the gotcha's I ran across in my business. Then an audit a few years later. So I understand.
Wow. Thanks for sharing Mltechsman. I was just thinking about my quarterly taxes for the City! All of it is frustrating. Thanks again for the perspective. I might just have to break down and hire an accountant. Actually, I look forward to it! ;)
So, in the name of diversification, I am off to study real estate!
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