stupid freelancing
Thanks to considerable freelance income last year, I owed quite a bit more in taxes for 2005. In fact, the withholding from my employer is a little lower than it should be, so I always owe a little bit to the U.S. but still get some back from Ohio, which is fine. But figuring in the self-employment stuff, what I paid in federal taxes for 2005 was literally half of my freelance income. I just hope the IRS isn't going to make me start filing quarterly, especially since the extra income last year was sort of a fluke, and it varies from month to month anyway.
By the way, freelancing sucks. At least for tax purposes. I long for the days when all I had was a few W-2's and 1099's and could just type the numbers into TurboTax and have my 1040EZ done in an hour. *sigh*
2 Comments:
Yeah. Self employment is not as easy as lots of people make it out to be. People are always like "I would love to be my own boss and make my own hours".
Of course, "make my own hours" means "spend every waking hour on my business" and "be my own boss" means pay an accountant to take even more out of my check than was taken out by my employer before I became self-employed.
Yep, plus probably hiring a lawyer to consult with at various points along the way, especially if you're dealing with a lot of copyright stuff (which you will be, as a designer).
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