DIYing Your Taxes

Getting an appointment with a CPA two weeks before tax deadline is as tough as getting into a Diane Von Furstenberg sample sale. You may end up spending of lot of money just to get “wrapped up”. [I made a funny, no?]

Yes, you can do your taxes yourself. If you are organized, then it’s easy! Here are some links for tax software.

Turbo Tax I have used Turbo Tax before I am a fan. One thing I suggest is to read questions slowly. Don’t answer questions too quickly like you are trying to speed through a survey. This keeps you from having to go back and correct mistakes.

H&R Block’s Tax Cut. This gives you the option of downloading the tax software, getting a CD mailed to you or doing your taxes online. I recommend checking out the advice on Digits, H & R Block’s community site on taxes.

IRS E-File. If your adjusted gross income was $54,000 or less in 2007, you can use Free File to prepare and e-file your taxes online. This is good if you are the hardcore type, coded your own website before, and are really thrifty since filing is FREE.

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Consumption Art by Kate Bingaman-Burt

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Chase Statement Poketo Letterpress Print for SALE!, originally uploaded by kate*.

Have you ever thought of your credit card statement as a work of art? No.

Neither have I until I stumbled upon the drawings of Kate Bingaman-Burt. Seeing the line items of a credit card statement is strangely beautiful and surreal to me. Credit is art!

You can purchase prints of Kate’s work at Poketo.

Don’t Forget To Deduct These Expenses!

Via Lifehacker, I found a link on Small Biz Survival which has some important checklists for small business. Since it’s tax time, you may want to check out the list below of deductible business expenses.

clipped from www.smallbizsurvival.com

Any reasonable and necessary expenses related to your business. So any money spent to connect with clients or potential clients, to do your work, or to get necessary equipment to run the business. For example, you can deduct:

  • web hosting, web design, domain names, etc.
  • the business percent of your cell phone, including data plan
  • part or all of your home internet service, based on how much you use it for business
  • business cards or any other business promo items
  • computer equipment
  • software used in the business
  • paper, ink cartridges, and office supplies
  • ipod, etc. (if it’s related to your line of business, like podcasting)
  • camera, etc. (once again, if it’s reasonable)
  • contract labor or subcontractors
  • professional fees, like legal or accounting
  • meals and entertainment with clients if you discuss business before, during or after
  • conference registrations
  • mileage driven for business
  • tolls and parking fees for business trips
  • other business travel expenses, including motel and airfare

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A Shout Out To My Clients

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I provide a range of services from Quickbooks set-up which includes creating a Chart of Accounts that has income and expense relevant to a business. I also do bank and credit card reconciliations and monthly check-ups. My clients are diverse businesses which include creative services, media and retail. These are the clients I worked with this week.

Mononomoto

CelebritayNY

The Femme Network