TAXES!

So today was my big meeting with the tax people. Basically being a freelance editor makes me an independent contractor. And there are a lot of rules about deductions and believe it or not home office rules. Apparently if I deduct my home office as an expense then I can't have anything in the room that isn't office related. Meaning no mail, personal finance, etc. But I can deduct the cost of any conference I go to and any travel it takes to get there as long as I am using the conference as a way to promote myself as an editor.

On the plus side when I showed her the book I made of all my invoices and receipts she was really impressed and said it was perfect and to just keep doing that. And I don't have to file quarterly, all I have to do is put 30% aside in a separate account and then when it is tax time I will already have the money set aside for myself. So I am going to call that a win in my book.

I think I am going to look for some books about taxes and being an independent contracter just so that I can do some more research for myself.

The only research book I have been reading lately is The Joy of Writing Sex, which is actually pretty interesting. The beginning is all about the history of sex in books, and the opinions of authors who write sex in their books. I am just now getting to the parts about the important components in writing sex into books, so hopefully I will learn something. Especially since I am now an editor for eXtasy books in addition to Crescent Moon Press.

More to come later!