Tax Time…

This is the time we are thinking about getting taxes done.  It is important to make sure you have everything ready when it comes to getting them done.

If you work for a company you will more than likely get a form of some sort saying how much you have made with them.  But it is also important to keep track of what you have made with all of your clients.  Depending on what country you live you in, it will determine how much you make on what you are supposed to claim.  But in reality you have to claim everything you make, so tracking what you make will come in quite handy for this.

If you work with oDesk, they are recommending you print what you have made for the year and turn that in.  That is a great idea and a good way to go about it.  It is also a great way to compare what you had and what make sure things match up.

If you don’t work for a company like oDesk, keeping track of your work will be important to do.  If you receive payments with PayPal, this is a great way to track your income as well.  You can print off the statements for each month and have it to use to compare what you make along with using to help complete the taxes.

It is important to make sure you complete your taxes on time and properly.  This means if you don’t know what to do, you get professional help.  Make sure you keep a copy of the taxes, regardless if you do them or have someone else do them for you.  This will help if you have problems later on down the road with your taxes.  Don’t be afraid to ask for professional help.  This is a great way to make sure you don’t do something wrong and the taxes are completed correctly.

Don’t forget to keep track of your expenses.  This includes anything from part of your internet, your rent/mortgage payments, computer, maintenance of vehicles, buying supplies for your computer or for what you do, etc.  But it is important to remember you need to start making a profit after a couple of years or it is going to be seen more as a hobby instead of work.

Asking questions and seeing what others do can really help make sure you have what you need when it comes to your taxes.