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Re: Going independant, how do you handle your payroll deductions
Subject:Re: Going independant, how do you handle your payroll deductions From:Martin Bosworth <martinhbosworth -at- gmail -dot- com> To:"TECHWR-L" <techwr-l -at- lists -dot- techwr-l -dot- com> Date:Wed, 14 Sep 2005 12:26:31 -0400
> Get a referral to a good accountant who works with individuals and
> small businesses. Pay for an hour or two of the accountant's time;
> trust me, it is the best investment you will ever make. You are going
> to need to do your own withholding, pay quarterly estimated taxes to
> the state and the Feds, etc. etc. You are also now in a whole new
> universe of tax deductions. Ask a lot of questions and then do what
> the nice accountant tells you.
A-men! Having a great tax preparer and accountant helped save me
almost $1000 in taxes this quarter alone! And I didn't even get Geico!
:P
Seriously, before going it alone, I recommend having a professional do
your taxes for one or two quarters. Someone who knows their job will
show you all the tricks of the trade and give you clear ideas as to
what you can deduct and what you can't.
Another advantage of using a professional is that you can deduct their
prep fees from your total estimate. ;)
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