Come tax time, I want all the right information in front of me quickly so that I can get it all stuffed in TurboTax and be done. So how easy was it to handle taxes from various different income and expense streams?
Dear old Commission Junction sent me a 1099-MISC so that was easy. CJ advertisers were the most profitable income stream for me in 2007… so I was glad this was seamless (I’d filled a W-9 for them with my SSN earlier in 2007).
Google Adsense also sends 1099’s so that’s easy too. Good so far.
Now to expenses… doing business on the web isn’t free as you know… and I have many miscellaneous expenses through the year. Basically it’s up to you to keep tabs on it all but I figured that at least for my hosting providers I’d be able to pull a report. Sadly not so.
DreamHost pulled through – I was able to pull a summary invoice for 2007 which itemised the monthly payments and the total paid during the year. Thanks DreamHost.
1&1. Sorry guys, you completely flunked this test. No way to pull invoices for just one year, no way to print out a summary with a total. Sorry 1&1 but this sucked.
Adwords was a slam dunk. Just like DreamHost I was able to pull a whole year of invoices with a total paid through the year. The printout also showed the remaining total owed as well but this isn’t relevant for the tax forms – we only need be concerned about payments.
Now time to add up all those little suckers….!