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Old 04-15-2009, 06:32 AM  
fallenmuffin
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Yes, this is my second year paying quarterly. Though this is my four year of business. I pay $2,300/quarter roughly 10k a year. I also deduct everything I legally can. Computer, office supplies, internet/phone, cell phone, donations, rent and utilities up to a percentage based on square footage used for business.

I have little over head and really no expenses. Last year I totally re-designed my work space with a new desk and built a new computer. $3k well spent if you ask me.

Go see a local accountant not H&R Block or some other bullshit and have them set you up. I have a local woman that does my taxes and helped me setup a system (I use GnuCash for accounting) for tracking expenses ect.

Don't forget about medical expenses, they're deductible also if they are equal or greater then 7% your adjusted income. www.irs.gov will give you tons of ideas.
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