Mark C. Posted February 28, 2015 Report Share Posted February 28, 2015 Well today I picked up our return from our Tax accountant-looks like this year he had to fill out 20 tax forms for us. This is a new grand total of forms and am I glad I did not have to wade thru this maze of current tax junk.20 forms I'm still amazed at this number. This total is both state and federal-the feds only had 13 forms. The usual quarterly payments are now due. Having a good account is another key element for self employed artists. If you are mailing in one EASY form then this is not for you but when life is more complex tax wise then it really matters. How long woul it take me to wade thru 20 forms and get it right?? Well untill I need the easy single form I will not find out. When my last account retired two years ago I thought I would after 25 years of working with here never find another great one but the kiln gods smiled on me and we have found a good one again. Throwing/selling pots power wheel/power slab rollor Car kiln/extruders geat account all necessity items for me. Mark Link to comment Share on other sites More sharing options...
Cavy Fire Studios Posted February 28, 2015 Report Share Posted February 28, 2015 My aunt and uncle are metal artists, and it took her three solid days to fill out that slough of paperwork. I have three words for that stuff...and I can't say them on the forum. Paper-pushing is not for the guinea! Link to comment Share on other sites More sharing options...
GEP Posted March 1, 2015 Report Share Posted March 1, 2015 I remember years ago when I noticed the full amount of my mortgage interest had not been listed on my Schedule A. My accountant explained it's because some of it goes on the Business Use of Home form, and the rest goes on the Schedule A. I said "never mind, I'll let you worry about that." Link to comment Share on other sites More sharing options...
Pres Posted March 1, 2015 Report Share Posted March 1, 2015 I do home returns in Turbo Tax deluxe. I keep a spread sheet of sales which is admittedly minimal. For the LLC we are also members of I do the accounting in Quickbooks/2014 and send everything to our tax/lawyer guys at the end of the year. I really don't want to wade through the partner forms and such. If the land is ever leased(mineral rights), the LLC will also distribute the earnings, and the tax/lawyer guys will help with that. Link to comment Share on other sites More sharing options...
Marcia Selsor Posted March 1, 2015 Report Share Posted March 1, 2015 I have been using the same accountant for 40 years. She is a former student. I have a lot of forms like Mark. She is worth it. Marcia Link to comment Share on other sites More sharing options...
PRankin Posted March 1, 2015 Report Share Posted March 1, 2015 For all the years I was an employee Pharmacist and my wife was a public school art teacher I did my own taxes using Turbo Tax. It was easy to follow and relatively straightforward figuring out all the income and deductions. My taxes became a little more complicated when I became a self employed fitness instructor and was still working part-time in the pharmacy. It was frustrating trying to figure out all forms but I would struggle through it spending many hours each tax season. Luckily, one of my early training clients was a tax accountant and he offered to do my taxes. I still use him and he has saved me a lot of money over the years and has taken that stressful job of tax preparation out of my hands. My three kids use him also as he has helped them with filing their complicated taxes for their free-lance and full time creative jobs, with incomes and expenses from many different sources. It is so well worth the money to have a professional take care of your taxes, no matter what kind of business you run. - Paul R. Link to comment Share on other sites More sharing options...
Mark C. Posted March 1, 2015 Author Report Share Posted March 1, 2015 After reviewing all my forms before signing today-I counted the pages. 65 pages-which is beyond mind boggling. I'd rather throw and sell pots than do tax forms anyday. My turbo tax days never happened for just this reason. Just collecting the figures is job enough for me. Mark Link to comment Share on other sites More sharing options...
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