Quote:
Originally Posted by Sabby
Bookkeeping is easy. Just stick all your receipts and check stubs in a basket... add it up at the end of the year and give your numbers to your accountant.
Categorize and file receipts and be sure to save verything for 5 years. If our self employed from home you can claim alot.
Sabby  |
A lot of people don't even know where to start, what you can claim. etc... How much do you pay on SS, how much to take on salary and/or draws (bonuses), paying fed & state taxes, quarterly estimates, if you are incorperated and advantages of llc vs inc etc.. for tax purporses...
there a million things you can do wrong and right when it comes to taxes. Having the right person helping you is huge.
The problem i had in the past is because my company name was adult in nature and gave it away, its unavoidable then. That;s another thing I would suggest to people, when you incorporate don't use a name like "Adult Marketing" unless you want a lot of people to know what you do, you would be surprised how many times you have to show someone your tax returns.