As a freelancer, you don’t get paid in the same way as an employee. As you’ve likely noticed, clients don’t take taxes out of your check whenever they pay you, like happens when you’re on a payroll. That doesn’t mean that you don’t have to pay them, though. While many people get refunds this month when they get their taxes done, you’ll owe them if you earned money freelancing in 2007. New to freelancing for 2008? Let me sure with you a really great way to make sure you’re prepared to pay the tax man this time next year.
First, when …read more

Deduct your baby as a business expense!  Deduct your dog too! I have seen many new “Get Rich Quick” and “Avoid Business Taxes” home business schemes on the Internet lately.  Looks like they are preying on people who are desperate for work and people who are looking for a way to avoid taxes.
Apparently the IRS is getting tired of these scam artists; they have issued a new warning about home business tax avoidance schemes.  These promoters want you to set up a fictitious business or convert a hobby into a “business” in order to take tax deductions for a …read more