Main Menu

Another recommendation

Started by Betty Rage, August 24, 2009, 04:57:28 PM

Previous topic - Next topic
Print
Go Down Pages1
User actions

Betty Rage

August 24, 2009, 04:57:28 PM
So I am going to be accumulating a lot of receipts for various things now that I have my own business. Was wondering what you guys would recommend to help organize all my receipts for tax deductions? Any advice would be appreciated.

Thanks!
Darkhorse den mother

Statler

#1
August 24, 2009, 05:00:59 PM
computer spreadsheet and a shoebox.

It takes most small businesses several years to pass this stage.


Do you have an accountant?   If yes, ask him/her.   If not, see above.
It's still buy a flounder a drink month

ducpainter

#2
August 24, 2009, 05:01:14 PM
Quote from: NeenjaMastah on August 24, 2009, 04:57:28 PM
So I am going to be accumulating a lot of receipts for various things now that I have my own business. Was wondering what you guys would recommend to help organize all my receipts for tax deductions? Any advice would be appreciated.

Thanks!
A large shoe box. ;D
"Once you accept that a child on the autistic spectrum experiences the world in
 a completely different way than you, you will be open to understand how that
 perspective
    is even more amazing than yours."
    To realize the value of nine  months:
    Ask a mother who gave birth to a stillborn.
"Don't piss off old people The older we get, the less 'Life in Prison' is a deterrent."


Betty Rage

#3
August 24, 2009, 05:02:22 PM
Quote from: Statler on August 24, 2009, 05:00:59 PM
computer spreadsheet and a shoebox.

It takes most small businesses several years to pass this stage.


Do you have an accountant?   If yes, ask him/her.   If not, see above.

What do you mean by that?
Darkhorse den mother

Statler

#4
August 24, 2009, 05:05:36 PM
if you keep track of things monthly then the actual receipts are only for an audit.

most small businesses will take quite some time before they are more serious than that level.   That's all.

get an accountant on board from early on.   It will help.   When shit hits the fan it's good to have 'people' to call.   Also helps in the setting-up stage.
It's still buy a flounder a drink month

Betty Rage

#5
August 24, 2009, 05:10:42 PM
Oh I see. So don't worry about keeping track by month? I'm not so much thinking about getting audited, I'm more thinking about the ease of using them for tax write offs next year. We have a guy do our taxes every year, I'm probably going to call him with some tax questions anyway so I'll add that onto my list.
Darkhorse den mother

Statler

#6
August 24, 2009, 05:16:21 PM
no no...keep track of everything and set up appointment with accountant soon to go over what to keep track of.   Document everything on a spreadsheet for him/her but save receipts organized by category accountant recommends.  We do biweekly budget for law office and monthly paperwork for G's property holding company.
It's still buy a flounder a drink month

derby

#7
August 24, 2009, 06:35:47 PM
file your receipts wherever you want.

keep track of all your finances (categorized) in quicken/quickbooks.
-- derby

'07 Suz GSX-R750

Retired rides: '05 Duc Monster S4R, '99 Yam YZF-R1, '98 Hon CBR600F3, '97 Suz GSX-R750, '96 Hon CBR600F3, '94 Hon CBR600F2, '91 Hon Hawk GT, '91 Yam YSR-50, '87 Yam YSR-50

click here for info about my avatar

red baron

#8
August 24, 2009, 08:00:21 PM
Quote from: derby on August 24, 2009, 06:35:47 PM
file your receipts in Adobe and shitcan the paper.



fixed ;D
"I believe there are more instances of the abridgment of freedom of the people by gradual and silent encroachments of those in power than by violent and sudden usurpations... James Madison

JEFF_H

#9
August 25, 2009, 07:43:12 AM
quickbooks and a neat receipts scanner
Print
Go Up Pages1
User actions