Filling Taxes

[boboa4eva]

Hey, I'm new here and I'm planing to start my first ads on facebook in couple of days. But before i start making any money.. or losing money lol. I wanted to understand how I'm going to file taxes in couple of months.

I signed a W-9 form when i joined the network, so that means my income will withhold taxes or social secutiy payments. So at the end of the year I'll have to pay a good percentage of my income to the IRS. And when I'm doing my 1040 form, i also need to fill out a schedule C form to track my profit and losses.

Did i get everything right? Or am i missing something? Thx for your help

 

[leber026]

Make money first, forget the taxes until you make money. If you don't make any money who gives a shit about the taxes. After that hire somebody, preferably someone that knows something about taxes.

 

[mguindon10]

If your in the US just go to your towns local tax place. Most charge under $200 to do all of your taxes, then you won't have to worry about if you screwed up or not.

My local tax place is actually pretty large and they have lawyers on staff and were able to help with other pieces of my business like legal disclaimers and some contract stuff so it worked out nicely. So I suggest looking locally first since they will be most familiar with local laws.