In this very special time of the year, Dangerous Prototypes lays out how they do their taxes.
We’re not tax professionals, so you need to do the research yourself. Our strategy is to be completely honest, do our best, and maintain exquisite records. We assume that if we don’t hide anything the IRS will help us work out any problems. That said, here’s the barebones of how we do taxes for a single member LLC.
While we may not all be as elite as DangPro, any freelancer who doesn’t know anything about paying taxes (raises hand) can benefit from reading this post. Thanks, guys!