My husband and I have a very easy tax return. We own no property and have pretty straightforward expenses--childcare, student loan and that's it. A friend of mine, who freelance edits/writes, got me into doing event research for a small website. It provided a small bit of extra cash monthly, which I relished.
Now that it is tax season, I am worried about filing my taxes incorrectly all based on my little freelance gig. Will an audit be worth the extra $1725 the job provided during 2007? Is an audit that bad? Sigh. I am reluctant to hit "send" on my electronic return for fear of how badly I've completed my return and yet I do not want to spend any money having my taxes prepared. What to do?
Freelancing, taxes and audits
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