INSIGHTS•2 MIN READ
Trying to Figure Out the TAX Thing in the U.S.
Stepping Stones to
Published on April 5, 2013
Published on Wealthy Affiliate — a platform for building real online businesses with modern training and AI.
I have been struggling with the Expense(s) part of my business on a Schedule C for my Income Taxes in the United States.
Not sure how it is in any other country... Here they really have just one place to put Income... but Expenses, they make you guess and who knows what happens if we do it wrong!
What about Domain Purchases? Hosting Fees? Smart Phones? Apps? Books on HTML? memberships? to Wealthy Affiliate? JAAXY? Photoshop Upgrade? Dragon Naturally Speaking? New Headset for Dragon? Microsoft Office? and on and on and on.
I checked the IRS Sites and the Small Business Administration Sites and magazines and blogs and...
Finally, I hit Gold... May or May Not be right but I this point I don't care. I can rationalize my decisions, leave a note in my file about how I decided and just finish up... I am exhausted and brain-dead from trying to do it right...
Anyone else wanting somebody with a little knowledge (Maybe a lot of knowledge). Check out eCommerce Bytes, "Guest Column: Categorizing Ecommerce Expenses on IRS Schedule C" By Ina Steiner interviewing Kevin Reeth, CEO of Outright.com on April 13, 2011. (Hope I did everybody's credits right) Never heard of them before but glad I found them today.
For instance:
ADVERTISING EXPENSE:
And So Much More... Hope this helps someone else.
Sherry M.
Not sure how it is in any other country... Here they really have just one place to put Income... but Expenses, they make you guess and who knows what happens if we do it wrong!
What about Domain Purchases? Hosting Fees? Smart Phones? Apps? Books on HTML? memberships? to Wealthy Affiliate? JAAXY? Photoshop Upgrade? Dragon Naturally Speaking? New Headset for Dragon? Microsoft Office? and on and on and on.
I checked the IRS Sites and the Small Business Administration Sites and magazines and blogs and...
Finally, I hit Gold... May or May Not be right but I this point I don't care. I can rationalize my decisions, leave a note in my file about how I decided and just finish up... I am exhausted and brain-dead from trying to do it right...
Anyone else wanting somebody with a little knowledge (Maybe a lot of knowledge). Check out eCommerce Bytes, "Guest Column: Categorizing Ecommerce Expenses on IRS Schedule C" By Ina Steiner interviewing Kevin Reeth, CEO of Outright.com on April 13, 2011. (Hope I did everybody's credits right) Never heard of them before but glad I found them today.
For instance:
ADVERTISING EXPENSE:
- Website Creation
- Domain Name Registration & Hosting
- Flyers and Brochures
- Blog Giveaways
- Business Gifts to Clients/Contractors
And So Much More... Hope this helps someone else.
Sherry M.
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