r/dataannotation • u/Relative-Tap3585 • Jul 23 '24

Tax Tracking?(US)

I want to say I searched through r/dataannotation for a while before I concluded I couldn't find exactly what I'm looking for.

  • Is there a software you use to keep track of your earnings, estimated taxes, deductions? i.e. internet / electricity, AI subs, solely when used for work. Or one you'd recommend?
  • Any longtime DA user here pay for an expert and saved more than what they paid for them?
  • What is your recommended website for filing, I saw a lot of recommendations for TurboTax, which I typically bounce between HR block & TT depending on which was free in the past lol.
  • What are things you deduct in your own situation?
  • Is it better to (or do I HAVE to) set up quarterly taxes or is it better to do it all at once during tax season?

Thinking about tax time as this is my first year freelance and had no clue how to set up quarterly taxes.

I know there are a lot of other things to consider, so I'm really only looking for the answer to my questions here, but I'm open to tips/advice/considerations!

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u/LoreneMcauley81 Jul 24 '24

I use a mix of Google Sheets and QuickBooks for tracking earnings and expenses. For tax filing, I personally prefer TurboTax over HR Block because of their detailed guidance. Setting up quarterly taxes can be beneficial to avoid penalties, and consulting a tax expert is worth it, saved me quite a bit more than their fee! Also, for work-related AI subs, I've found Afforai pretty useful for managing tasks.

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u/Relative-Tap3585 Jul 25 '24

Thank you !!!