Episode 021

[Josiah the Carrot Stick]

I prefer algebra…

[Poulet Frit]

Oh OK. Taxes is….interesting.

[Poulet Frit]

FREELANCE TAXES (as promised in the comment section of 021):
If you do freelance work, that means you get a 1099 MISC and you get a number in box 7. That counts as self employment. So not only do you have to pay normal taxes on it (if your deductions don’t reduce your taxable income to 0), you have to pay self employment tax (no deductions can reduce this, generally).
If you are going to make a living off of freelance work, we will say that 25,000 is enough to live on just for this purpose, you can end up paying thousands of dollars in self employment tax, the tax in the example would be 3532, and that doesn’t include the normal tax you have to pay.
To avoid owing a lot of money at the end of each year, you can send in estimated taxes quarterly to the IRS (just keep good records for this along with business expenses).
-Kristen
Over 100 hours of tax training along with over 300 hours of actually doing tax returns.
(I can do tax returns even if we aren’t near each other *shameless plug*)

[Poulet Frit]

With a 1099MISC, they don’t already take taxes out of it.

[Josiah the Carrot Stick]

Hey Kristen, if you don’t like tabs… https://brushpile.wordpress.com/2008/04/24/the-bane-of-browsing/

[Poulet Frit]

74 tabs?!?!?!?!? Nope! I couldn’t do it.

[Josiah the Carrot Stick]

Neither could I… apparently onetruestickman could, though. Not sure if he can still do it or not, that was nearly nine years ago…

[Poulet Frit]

Maybe he has gained some self control since then

[Josiah the Carrot Stick]

Probably.

[auxcableangie]

Nope wasn’t me.

And I’m still sold out for TurboTax; sorry Kristen! Maybe if I wasn’t single with the same life and job that I’ve had for the last 7 years I’d need something less basic ??

[Poulet Frit]

We have an online program/website thing as well, which my mom has been using for years and years.
Part of me understands the ease of it…most of the clients coming in own houses or have slightly complex returns or tbh, they just want it done.
Personally, what little I have seen from turbotax, I don’t like. I honestly has nothing to do with where I work, but probably everything to do with watching my mom do her taxes on the website of the company I’m currently working at.
Either way, both are laid out pretty simply, easy to read, I just know that we have to amend turbotax returns often (because people don’t know how to enter in the data correctly usually)

[Poulet Frit]

I think all tax companies need to reach out to the public and teach people about scams. Because too often do people come in telling us someone came to their house and requested copies of their documents and said they owed thousands of dollars to the irs and wrote them a check.
It hurts my heart. The public needs more educated.
My company has issues. I know how I believe the company should work, but it doesn’t. Hopefully that changes. The public needs educated on things that they aren’t being educated on. Tax pros don’t tell people with 1099MISC’s how to avoid owing.
I put 100% into the returns I do. Am I perfect in them? Nope. I mess up. But I also take responsibility and fix it. I treat each and every client with the same respect and kindness, whether they are nice to me or yelling at me and cussing at me. Customer service is huge to me, I treat clients how I would want to be treated.
Unlike some taxpros, I don’t use big complicated tax lingo. I say everything so it can easily be understood.
It’s my first year, I’m terrible at talking to people, I look like a hot mess less than 3 hours into my shift most days. But I will not treat a client rudely. I will not let the quality of my work waver.
That, I think, is one plus to going to a taxpro (depending on the taxpro) vs using a program or software. Plus we have coffee that when I make it ain’t too half bad.

[Poulet Frit]

(Don’t get me wrong, I love my company…but there is certainly room for improvement. Which is true for every company and person ever…)

[auxcableangie]

And you get to be the one to fix it!! ??

[Poulet Frit]

Hopefully. Bring as young as I am, and doing this and not just doing this to make money but because I love it, I can go far. My goal is to become an enrolled agent with the irs by the time I’m 25. I gave myself some time to do it because, in that time, I am also going to get a degree in accounting (prob just associates) and learn a lot about taxes in that time frame. That also gives me time to move and get settled wherever we move to. By the time I’m 25, I want to be an EA and I want to be a 6 (my company ranks tax pros based on the lvl of difficulty they are qualified for. I’m a 1, because this is my first year. Highest is a 6. They get all the business returns. The highest return I have done is a 4….several of them now. They ain’t hard)
Oh and I might also become a CPA in that time frame.

[Poulet Frit]

(And don’t go thinking, “Kristen has her life planned out man”, because I threw this plan together in Jan with the contingency that I have to like doing taxes. Which turns out I do. Before Jan, my plan was what I have been planning since I was 5, and where I feel like God will use me the most…it’s still my plan…it just ain’t happening grrr)

[Josiah the Carrot Stick]

That job must be taxing. I’m sure you’ve never heard that one before…

[Tingle]

TINGLE TINGLE KOOLOO LIMPAH!

[Manalive Smith]

I do not care about salads as much as you care about taxes. Yeast was still logged into facebook on my computer, so I now know Kristen’s state.

[Manalive Smith]

Unfortunately the last thread was an outlier. Tingle has returned to normal.

[Poulet Frit]

If you are ever in the area, let me know.
I’m very passionate about taxes.

[Poulet Frit]

Wait wait wait.
You were like, “hey, he’s logged in, might as well stalk Kristen’s fb”?
How far did you have to scroll to find something I was tagged in that had this state? Because…the state listed on my fb is south Carolina, and I’m not there anymore.

[Dawn]

Manalive is working on his stalker skills apparently XD

[Manalive Smith]

Not far. Someone very helpfully posted a description of your work address. I checked for your workplaces near those street names in the city that individual was living in, and while you could commute in from a different city, I definitely now know your state.

[Dawn]

This is why I have a fake name, friends. This is why I don’t tell you guys what timezone I am in. This is why I will never say anything that could be traceable on this Not-forum.

BECAUSE YOU GUYS ARE WAY TOO GOOD AT STALKING.

(there’s nothing wrong with stalking, it’s just unsettling, y’know?)

Y’all can get all the stalking and everything when we meet at AuxCon. Not until then.

[Manalive Smith]

We’ll still probably call you Dawn at Auxcon. I hope you’re okay with that.

[Dawn]

Hmm…

[Josiah the Carrot Stick]

You guys can stalk me all you want, as long as you don’t say anything anywhere public. Also, tell me your conclusions. As a general rule, they are highly entertaining.

[Poulet Frit]

Delaware!!

[Poulet Frit]

That was my mom. She literally said where my work is. You did some scrolling though.

[Author]

Posts