Question for L2, TRS and PRO sellers

[abauer5188]

I’ve owned my own LLC before and know what it takes, I am wondering how many of you guys have your own business registered.

I think the challenge is that freelancing is an internet business and a global one, how do you organize that for USA tax structure?

Appreciate your feedback!

[misscrystal]

That’s a great question! I have an LLC that I use for other things than fiverr.

I am a sole proprietorship for fiverr tax purposes. My accountant tells me there is no advantage to having any other type of business.

I have my tax paid automatically to the IRS from my bank account every three months as a business owner. My only deductions are for my internet connection and my home office, and supplies.

[Guest uxreview]

I have a business partner who takes care of my accounting and taxes (every now and then he also consults with a professional accountant). As a freelancer you need to wear many hats, but at some point you’ll find that hiring an account is actually more cost effective than dealing with it yourself.

I’m sure there are a lot of knowledgeable people in this forum, but when it comes to taxes I would turn to a professional accountant or at least contact a professional consultant 😉

[misscrystal]

I have a business partner who takes care of my accounting and taxes (every now and then he also consults with a professional accountant). As a freelancer you need to wear many hats, but at some point you’ll find that hiring an account is actually more cost effective than dealing with it yourself.

I’m sure there are a lot of knowledgeable people in this forum, but when it comes to taxes I would turn to a professional accountant or at least contact a professional consultant 😉

when it comes to taxes I would turn to a professional accountant

I agree unless you know how to use Turbo Tax and make less than $10,000.

The IRS is such a scary entity that I have an accountant who is registered with the IRS

who does my taxes. It is not cheap but I really do not want to have any mistakes.