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Asked in North Carolina, United States |

Feb 19, 2024
tax situation NC

Hope you're doing well. Here's my situation, and it's a bit all over the place, so bear with me. I'm based in Asheville, NC – beautiful place, right? Moved here a few years back, drawn by the Blue Ridge Mountains and the artsy scene.

So, here's what's up:

  • Background: I'm a freelance graphic designer, mainly working with local businesses like Malaprop's Bookstore and Café (I know, I said no cafés, but it's also a bookstore!) and some breweries around the South Slope, like Burial Beer Co. I've also sold some of my designs at the Asheville Flea for Y'all.

  • Issue at Hand: Last year was unexpectedly good, business-wise. Made more than I ever did, but didn't really keep up with the tax situation. Now, I'm worried I might owe a lot and not sure how to handle it.

  • Complicated Bits:

    • Dabbled in cryptocurrency investments, which paid off but now I'm reading there's a whole tax side to it I didn't consider.

    • I've been renting out my spare room on Airbnb, which added to my income. Heard there might be additional taxes or exemptions for that?

  • Looking For:

    • Guidance on sorting out my taxes, especially with the crypto and Airbnb income. Any specific Asheville or NC state laws I should be aware of?

    • Tips on avoiding penalties or at least minimizing the damage since I'm pretty sure I'm late on this.

    • Recommendations for setting up a better system moving forward so I don't end up in this mess again.

Really appreciate any advice you can throw my way. This whole tax thing is way outside my comfort zone, and I'd like to get back to focusing on my art and community projects without this looming over me.

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