***Disclaimer: I am not a tax professional (nor do I play one on TV). I give this advice solely based on my own experiences. Use it with caution.
It’s tax time. Gross. But it’s a necessary evil. And it can be especially, er… evil if you’re an independent contractor like myself. Most years, when Josh and I file jointly, we’ll have some 20 or so 1099’s between the two of us (usually just 1 or 2 W2’s); such is the price for being a performing and teaching artist.
Despite the pains of filing, there are also many deductions, but keeping track of what is an appropriate deduction and how to track it can be a little challenging. A lot of folks prefer to use accountants, and this is undoubtedly wise. However, in hopes of saving even more money, we have done our own research, read a little tax law here and there (riveting stuff), and have successfully filed ourselves (I’m not saying it’s easy). One of my favorite resources to assist me in this process is ArtsTaxInfo.com, a website by Riley & Associates, P.C. Of course their website comes with a disclaimer, but if you already have some familiarity with taxes or if you just need a few reminders about deductions, this is a fabulous resource.
If you’re an actor/actress, singer, dancer, director, writer, musician, or visual artist, this is definitely a website you want to check out: ArtsTaxInfo.com
How about you other independent contractors out there? Do you have any resources of your own that you use to help you interpret all of the legal jargon? Do you dare file taxes on your own, or do you seek the help of an accountant? Does anyone out there actually enjoy taxes (aside from those people on the H&R Block commercials)?!?
Check back tomorrow for my weekly Pinterest round-up!