As a writer, you want to write. You don’t want to spend your days pouring over a spreadsheet or sorting out tax forms. But the reality is there is more to running a business than just offering services – especially if you want to do things the right way (and you do).
In this session, Kelly offers tips for making the tax side of things as painless as possible. She’ll discuss what constitutes income, as well as how to deal with unpaid invoices, the timing of payments, reporting blogging samples and perks, and disclosing barters. She’ll also discuss the flip side – expenses – including figuring the home office deduction (it’s really not gone), claiming travel and other expenses, and paying subcontractors.
Next, she’ll help you figure out what you need to file (including the dreaded self-employment tax and estimated payments) and when, provide clarification on safe harbors, and offer recommendations on how to avoid penalties. Chances are that you’ll need to file a form 1040, but whether you also need to complete (or issue) forms W-9 and 1099 can be tricky.
She’ll also discuss whether popular strategies such as incorporating or forming an LLC, actually makes good tax sense.
Finally, she’ll tell you where to go for help when things are going right and what to do if you worry that you’ve gotten it all wrong. And she’ll leave you with her best tax advice ever – but you have to come to the session to learn what that is.
Kelly Phillips Erb has her JD and LL.M. in Taxation from Temple University School of Law. Her primary practice area is tax law including tax planning and tax controversy matters.
Kelly authors the popular Taxgirl blog as a senior contributor with Forbes.com. She has also been published – and featured – in the magazine. In addition, Kelly has written and been interviewed about taxes for outlets like CNN Money, Time, National Public Radio’s Marketplace, Martha Stewart’s Living, and Inc.
Kelly has published Ask the TaxGirl: Everything Parents Should Know About Filing Taxes and Home, Sweet, Rental: Busting the Hype of Homeownership together with Forbes. She created and co-authored 100 Things You Need To Know About Money, Forbes’ most successful e-book.
Kelly is also a mom to three children, so she can add “science fair expert,” “cupcake baker” and “sports mom” to her resume. Like you, she also loves to travel.
For more information about other professional development sessions, return to the landing page here.