Tax season is right around the corner; believe it or not! This can be a confusing time for anyone although, it's a part of life that you cannot (or should not) avoid. As a freelance photographer, you are responsible for running your own business and ensuring that the proper paperwork is filed during tax season. If you're sitting there thinking any of the following: "I despise tax season", "I have so-and-so do my taxes", "I hire so-and-so to help me", "I don't keep receipts thus I don't file any tax deductions"... then you're a) not alone and b) not out of luck! There's a fantastic website called "Freelance Taxation" that can help you understand everything you need to know about taxes:
This website is run by Susan Lee, who is a tax consultant and financial planner. The website is broken into different sections titled "Managing Taxes", "Deductible Expenses", "Managing Finances", "Useful Books & Websites", "About Susan" and "Contact". Throughout these sections, there are many different topics that are covered on Freelance Taxation's website. To only name a few: Tracking Freelance Income and Expenses, What Papers Do I Need to do my Freelance Work, and The Minimum Freelancers Need to Earn File Income Taxes. One of the most important things to note as a freelance photographer is what expenses you can "write off" as tax deductible. Below is a list of a few items:
Prior to submitting your taxes this year, be sure to check out FreelanceTaxation.com to check out what you should know!
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01. Lee, Susan. FreelanceTaxationcom. N.p., n.d. Web. 24 Feb. 2014.