Organizing Invoices/Taxes for Indie Contractor? at
DV Info Net

Go Back   DV Info Net > And Now, For Something Completely Different... > Taking Care of Business

Taking Care of Business
The pen and paper aspects of DV -- put it in writing!

Thread Tools Search this Thread
Old March 22nd, 2010, 10:38 PM   #1
Major Player
Join Date: Dec 2006
Location: Austin, TX
Posts: 773
Organizing Invoices/Taxes for Indie Contractor?

I'm about to leave the 9-5 and become my own contractor. Mostly for copy-editing, but there's some video stuff in there. What software (either client side or in the cloud) would you recommend for:

1) Keeping Business Contacts
2) Making and sending invoices
3) Keeping track of a budget (or Income - Outgo)
and the big one:
4) Taxes.

That last one might be a bit tricky, as I'm likely to have money coming in from multiple countries, and multiple denominations, and I'm likely to be *living* in multiple countries (I'm going to be trying the technomad lifestyle.)

But I'm a U.S. citizen, so I know I have to *at least* pay taxes there. I basically have to keep track of which country the money is coming from and which country I actually earned the money in, etc. That'll be "fun"... but worth it.
Equip: Panny GH1, Canon HG20, Juicedlink, AT897, Sennh. EW/GW100, Zoom H2, Vegas 8.1
Brian Boyko is offline   Reply With Quote
Old March 23rd, 2010, 07:43 AM   #2
Major Player
Join Date: Apr 2009
Location: Philly, PA
Posts: 951
That sounds awesome! Good luck man.

I think Quickbooks does all that you are looking for, except I don't think it does taxes. To be honest though, you're probably want to look into getting a CPA your first year around. Sounds pretty complex what you got going on, and you'll be better off having someone walk you thru it for a few years. It'll pay for itself.
David Barnett is offline   Reply With Quote
Old March 23rd, 2010, 08:02 AM   #3
Major Player
Join Date: Jun 2008
Location: Charlottesville, VA
Posts: 700
Definitely check with a CPA, but I believe that a US citizen working outside of the US is not required to pay taxes on earnings up to ~$75K.
Kevin McRoberts is offline   Reply With Quote
Old March 23rd, 2010, 08:43 AM   #4
Inner Circle
Join Date: Jan 2003
Location: Chicago, IL
Posts: 6,609
Quickbooks should do everything you need except taxes however it is my understanding that QB will integrate the information to Turbo Tax, but I don't use Turbotax so I can't really say for sure.
You should definately check with an account who is versed on money made outside the USA to make sure of all the tax implications.
What do I know? I'm just a video-O-grafer.
Don Bloom is offline   Reply With Quote
Old March 23rd, 2010, 06:16 PM   #5
Join Date: Jul 2007
Location: Novato, CA
Posts: 1,774
Turbo Tax and Quickbooks do in fact work together to pull your business information into your taxes. However you do have to set up Quickbooks correctly to begin with. I have the very fortunate advantage of having a father who is an accountant and a financial consultant for service companies. He is the one who helped me set up everything in the beginning. All I do is input all the appropriate data into Quickbooks and then at the end of the year I use Turbo Tax to prepare my return. Then I send my father my QB file and Turbo Tax file and he and his CPA go over it to make sure everything is ok.

There is a lot more than just keeping books though. I would recommend advising with a business consultant as well as a CPA and if you are doing international business it probably wouldn't hurt to at least pay for an hour or two of consultation with an international tax attorney. My brother was an internal auditor for Levi's and there are a lot of strange laws regarding income made overseas.

Garrett Low is offline   Reply

DV Info Net refers all where-to-buy and where-to-rent questions exclusively to these trusted full line dealers and rental houses...

B&H Photo Video
(866) 521-7381
New York, NY USA

Scan Computers Int. Ltd.
+44 0871-472-4747
Bolton, Lancashire UK

DV Info Net also encourages you to support local businesses and buy from an authorized dealer in your neighborhood.
  You are here: DV Info Net > And Now, For Something Completely Different... > Taking Care of Business

Thread Tools Search this Thread
Search this Thread:

Advanced Search


All times are GMT -6. The time now is 03:35 PM.

DV Info Net -- Real Names, Real People, Real Info!
1998-2024 The Digital Video Information Network