Anyone have self-employed/tax info?

[z31maniac]

As some of you know I'm a Technical Writer/Editor. It looks like I have some side work lined up that could become fairly steady, and I'd eventually like to find more. Eventually it would be nice if I could be completely self-employed, but that's still down the road.

I'm going to start searching but wanted to see if anyone could help point me in the right direction on some potential write-offs. Mainly associated with writing off part of the house as a "home office" since I'll be doing the work from home. Do I have to be working a certain amount of hours or making XXXXX amount of money or anything?

I'll be paid submitting an invoice like a contractor, so I know I need to keep ~30% back to pay taxes with at the end of the year.

Any other suggestions/tips/tricks, things to look out for?

[mrsleeve]

well if its a side job once in awhile, you dont report it duhhhhhh


but really you would need to keep all invoices, all receipts for materials used, right down to the 1/2 gallon of gas you used to get you materials and delivering them to you customer. Because all of yours costs for doing that business you can write off the top.

If you buy a new lap top and you use it for this business you can write it off, new printer, same thing, if you do lots of running and delivers you can write a portion of a new car off, or you can write off maintenance and gas on your current car, pens, paper, soft wear, printing services......... ect......

If you can have the place you do a lot of side work for send you q 1099 form at the end of the year, that would be easiest. As it would show you the total amount you were paid by them in that year, a lot of out side regular contractors get these.

[Vedubin01]

did you or will you fill out a W9 form?