I’ve been freelancing for several years now, which means filing business taxes as a sole proprietor — quite a daunting task, really, when you are accustomed to being able to use the short version forms, such as the 1040-EZ.

Despite the challenge, usually I am pretty good at getting my taxes done and filed early.  In fact, I think the past three years, I’ve already had them done by this point in the season.

This year, unfortunately, has started out pretty crazy.  January and February have flown by in a whirlwind, and not necessarily in a good way.  Then my husband and I planned a trip for early March, so we’ll be on vacation for about 10 days.  That doesn’t leave much time for doing our taxes when we get back, but I’m fairly certain we won’t be getting them done before we go.

It’s times like this that I’m glad I have a fairly simple freelancing business, with no big property expenses to consider.  Cost segmentation, which analyzes and corrects the way you’ve depreciated expensive property for tax purposes, requires some time and thinking ahead at tax time.  And since I’m sure I’ll be filing a little bit last minute this year, it’s a good thing I don’t have to do anything that involved or that complicated!

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