Business of Writing: Picking a Tax Professional
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.
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.
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.