First-Time Freelancer – Start-Up Costs vs. Taxes

Final yr I started dipping my toes into freelancing. I haven’t as but actually made sufficient from it to require reporting that revenue to the IRS, however have laid numerous floor work for future work this yr and past.

At present questioning whether or not I ought to anyway, and if I needs to be writing off any of my bills for this, or simply wait? I don’t need to miss out on any tax breaks, however I additionally don’t need to irritate the IRS. I haven’t even arrange an LLC or something simply but as a result of I needed to see if it takes off a bit earlier than going to the difficulty.

My emotions gained’t be damage if the reply is, simply go away it for now and even “kind your LLC already, dummy” haha. I’d additionally love any assets anybody wish to share, as doing a Google search on this subject turns up an amazing quantity of information, a lot of it missing nuance.

Thanks prematurely!