Episode 11

The Ruby Freelancers Show 011 – Taxes and Finances with Scott Sweeney


April 6th, 2012

38 mins 23 secs

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About this Episode


E. Scott Sweeney, CPA (email 801-756-3394)
Charles Max Wood (twitter github Teach Me To Code Rails Summer Camp)
Eric Davis (twitter github blog)
Jeff Schoolcraft (twitter github blog)


Why you want a CPA?

Accurate Returns
Tax Savings
Understanding of Tax Code

You'll likely wind up paying taxes rather than getting a return.
Home Office Deductions
Itemizing Your Return
Likelihood of getting audited
Keep your receipts on every expediture
Mileage - Begin odometer reading and ending odometer reading
The IRS cannot audit you back 4 year
Statute of limitations on fraud is 7 years
Tax deadline for 2012 is April 17.
Failure to pay penalty
Filing an extension avoids the failure to file penalties
Officer's salary in an S-Corp or a guaranteed payment in an LLC
Wages and salary vs draws and dividends
Self employment tax is 13.3%


Robbie McDonnell talk on goals (Eric)
Freelancing Weekly (Jeff)
iOS Biz Weekly (Jeff)
Paleo Weekly (Jeff)
Freelance Funnel (Jeff)
Hootsuite (Chuck)
Scott Sweeney CPA (Chuck)
Contemporary VA (Chuck)
oDesk (Chuck)
A good bookkeeper (Scott)
Excel (Scott)