How,Set,Easy,Efficient,Bookkee DIY How to Set Up Easy, Efficient Bookkeeping
Normal 0 false false false MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable{mso-style-name:"Table Normal";mso-tstyle-rowband-size:0;mso-tstyle-colband-size:0;mso-style-noshow:yes;mso-style-parent:"";mso-padding-alt:0in When starting a new work at home business it is very easy to become consumed by it. We spend so much time trying to get the business up and running that we may end up becoming burned out and lose our motivation. There is so much to learn and
What? Why, I dont know the first thing about bookkeeping!And believe me, as a business owner your days of filling out the simple Income-Tax form are over! Being a business owner, especially a Homebased business owner, your life has just become somewhat complicated. Is there an easy way out of this mess, you ask?Why yes, as a matter of fact, there is.First, get a notebook and put it beside your telephone. Now record carefully every business call you make and approximately how long you talked on that business call. This gets you a percentage of your telephone bill as a deduction.Next, get a pocket note pad and pen, put them in your car, and record the start mileage, destination(s) and finish mileage of every business trip. This gets you a percentage of your automobile and automobile expenses as a deduction.Next, get two sets, of two different colors, of 12 large envelopes. Label set 1 JAN OUT thru DEC OUT, and then label set 2 JAN IN thru DEC IN. During the course of the year, every time you have a business expense put the receipt in the appropriate monthly OUT envelope. During the course of the year put a copy of the receipt or sale or product order confirmation in the appropriate monthly IN envelope. Finally, the ultimate part of your Homebased Business Tax Plan: Do you have a personal income tax preparer. And no, H&R Block simply does not qualify here (sorry, H&R, this is my opinion, based upon a lifetime of stories and experience.). If you do, youre home free, and if not .Perhaps the most complicated part, now run through your mind all the people you know. Theres a very good chance that you actually know a Tax Accountant. Wouldnt that be nice? But if you dont, you are going to need to find one --- or spend the time to become one yourself.You can try the yellow pages or the white pages, but Id suggest you contact everyone you know and take it from there. Surely at least one of your many friends or acquaintances will use the services of a private tax person. Success --- or --- success. If you find one, well and good, and if you dont then you begin your networking career by networking to find a tax man. Once you have him or her, you are now ready for all the slings, arrows and pitfalls Internal Revenue can send your way.Just work your Homebased business, begin making money hand over fist and youre laughing all the way to the bank.
How,Set,Easy,Efficient,Bookkee