Hi all, I own an article writing service and am not quite sure how to do the whole taxes thing. Is anyone else in the same boat?
Basically you want to pay as little as possible, and keep as much as possible, obviously. Try to have a lot of income that falls into non-taxable category. Avoid having houses and bank accounts under your name, put them into trusts instead. That way when time comes you can fill out that 'Offer in compromise' form that says, hey, I owe you $XXXX, but I am only worth $XXX.
Well if you own a business, tehcnically you can deduct all business expenses (advertising, supplies, internet, etc) I'm trying to figure out what to do with tax issues too
Hmm... that is interesting. I just don't know where to even start. I just began in May as a full time article business, so I haven't had to pay taxes yet. I wish there was a way to not have to pay so much.