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Working for yourself should make you feel empowered and excited, not scared of messing up.
For example, a business consultant deducts the cost of buying themselvesnew clothes or travel expensesfor a personal vacation.
Plenty of expenses fall within the IRS guidelines, so stick to those and dont get too greedy.
Instead, record your expenses as you pay for things.
It will make your life much easier.
Tax software can help you with this.
Instead, the Internal Revenue Service (IRS) expects you to pay them directly with estimated tax payments.
Estimated tax payments are due quarterly, typically on Apr.
15, Sept. 15, and Jan. 15.
Dont throw money away with penalties.
Make your estimated tax payments on time.
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