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As an author selling books on Amazon, one thing that really sucks is: Amazon has all my data and they won’t give it to me! Well, okay, it’s their data and I’m just a vendor, really, but still … Anyway,…
As an author selling books on Amazon, one thing that really sucks is: Amazon has all my data and they won’t give it to me! Well, okay, it’s their data and I’m just a vendor, really, but still … Anyway,…
This will be a short post, but an important one. Picking the right tax professional can save you or cost you — a lot of money.
I'm going to be talking about Quickbooks Self Employed (QBSE) a lot in the series of posts on taxes, so figured it would be useful to have a full review post of it. Quickbooks has multiple offerings, so it's important to understand that I use and recommend the Self Employed product, and this review isn't of the Online or Desktop offerings. Those are good products too, I'm sure, but I think they're overpowered for use by the typical author.
The IRS recommends you use their multipage worksheet (https://www.irs.gov/pub/irs-pdf/f1040es.pdf), which involves estimating your income and deductions, both personal and business – and, since writing is a pretty variable business, you should do that worksheet for each quarterly estimated tax payment …
Which is sort of like having to do you taxes five times a year, in my opinion.
It's Tax Season in the US, and throughout the land there echoes amongst the hills and valleys of writers' forums the wailing cries of horror, disbelief, and pain, as writers who met some measure of success last year find out what it will cost them.