A&P Yay tax time, So how much are you freelancers going to lie on your taxes?

Discussion in 'Lifestyle' started by CornUponCob, Feb 6, 2008.

  1. CornUponCob

    CornUponCob New Member

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    Unfortunatelly, most of the work I've done this year has been documented. I've got so many 1099's laying around I almost blew my nose on one when I didn't have my contacts in. Don't worry, I usually keep up with my paperwork a bit better than that, I had just recently opened some mail though.

    I do have a simple question about deducting gear purchases.

    1. What's the simpelest deprecion method I can use? Can I just do straight line over 5 years? 10 years? I've scoured the internet but haven't found a legit answer.

    2. I didn't keep perfect mileage logs for 3 events I drove too, but I know how far away they are (thanks google earth). What kind of proof do I have to provide to deduct the mileage?

    3. Can I write-off the new computer I bought this summer? It is the machine I edit photos on. Pretty sure I can, but I've not been able to find if there are different depreciation rules for a computer.
     
  2. Spurious

    Spurious New Member

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    Don't file.
     
  3. JordanClarkson

    JordanClarkson OT Supporter

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    i filed everything i made. i didn't deduct any equipment though :o
     
  4. mojito

    mojito New Member

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    get an accountant, its worth it. Even if all the do is properly setup quick books for you, trying to do it yourself is :nono:
     
  5. Spurious

    Spurious New Member

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    Don't file.
     
  6. SoonDubu

    SoonDubu The most honest moment in a man's life is the five OT Supporter

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    .



    tax laws are intentionally grey so you can take advantage of it.

    depreciate everything.




    it's only an issue if you get called by the irs.
     
  7. ericande

    ericande Active Member

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    When in doubt... I deduct it.
     
  8. Spurious

    Spurious New Member

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    When in or out of doubt I don't file.
     
  9. ace3

    ace3 mouthify my wang.

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    I AM HIDING 100% OF MY PROFESSIONAL PHOTOGRAPHER INCOME! COME AND GET ME, IRS SUCKAS!
     
  10. Spurious

    Spurious New Member

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    Damn straight :h5:
     
  11. xenon supra

    xenon supra OT Supporter

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    I'm turning you in :nono:
     
  12. SLED

    SLED build an idiot proof device and someone else will

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    Already been audited twice in my lifetime, I don't fuck around anymore :o

    Get a good accountant, FTW.
     
  13. brasheye

    brasheye Rotary Crew

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    I wont say what Im going to do, but put it this way, this financial year I bought a 1dsmk2, so im looking foward to my return.
     
  14. JordanClarkson

    JordanClarkson OT Supporter

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    I did it all online after auditing myself.
     
  15. aCab

    aCab New Member

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    Cause Australian Tax laws = US Tax laws.

    Didn't I read on your blog that you got a good deal on that camera anyways? Was it used?
     
  16. GregFarz78

    GregFarz78 New Member

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    Is photography your primary source of income? Theres too many laws about what you can and cant deduct, buck up and pay an accountant it will probably cost you less than you make in a few hours of work
     
  17. CornUponCob

    CornUponCob New Member

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    Over the fall winter and spring photography is my only source of income. It is not my greatest however. Over the summer I'm a swim coach and I teach a lot of private swim lessons.

    My brother has already given me his accountant's information, I've just been putting off calling him. I'm still waiting for one more 1099 from TYR Sports.
     
  18. brasheye

    brasheye Rotary Crew

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    :nono::noes::hsd:
     
  19. Toyman321

    Toyman321 New Member

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    Tax laws are intentionally grey so when you get audited they IRS can :buttsex:

    I'm expecting an audit this year as we just added a home office and will be deducting that so I don't mess around.
     
  20. e r y k

    e r y k New Member

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    so you graduated from tech and you take photos for living?
     
  21. CornUponCob

    CornUponCob New Member

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    Yeah, I'm not really using my business MGT degree and I don't plan on it anytime soon. This was my first fall / spring doing it. I've made enough to pay my bills and that's about it, although I haven't been working all that hard.
     
  22. quid

    quid I Piss Excellence OT Supporter

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    that > * imo. making money doing something fun self-fulfilling is far better than a cubicle.
     

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