Taxes and Bookeeping - Mothering Forums

Forum Jump: 
Thread Tools
#1 of 5 Old 07-15-2003, 02:54 AM - Thread Starter
indiegirl's Avatar
Join Date: Apr 2002
Location: The land of Nod
Posts: 2,998
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
I need to know what I need to do for taxes now that I am working for myself. I've been saving all of my receipts but don't know if that is enough.

Do you guys have any tax/accounting tips for a gal who is very mathmatically challenged?

I do have a bookeeper's services for tax season--when that comes around.
indiegirl is offline  
#2 of 5 Old 07-15-2003, 11:49 AM
Erin Pavlina's Avatar
Join Date: Nov 2001
Location: Las Vegas, NV
Posts: 1,854
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
All I do is open a spreadsheet in Excel. First column has the date. Second column has my income, the next my expenses. It's all totaled at the bottom. Easy, fast, etc. Then I just put in a note in the next column as to what the money was for. I use a new line for each new transaction, whether that's income or expense.

At the end of the year, I know what my gross income was and my net income.

I keep all business receipts, but those numbers should already be on the spreadsheet if you were accounting properly through the year. The receipts are just for if you're audited.
Erin Pavlina is offline  
#3 of 5 Old 07-15-2003, 02:34 PM
LizHarrison's Avatar
Join Date: Jan 2003
Location: New Hampshire
Posts: 951
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
I had quickbooks online for 2 years and I just got a new PC and with it I got the quickbooks pro..
It auto does my all my paper work for me and I just haev to print it off and bring it to my accountant.

I do save my rec. They are in a big box full of them just incase I ever need them
LizHarrison is offline  
#4 of 5 Old 07-15-2003, 02:43 PM
zealsmom's Avatar
Join Date: Nov 2001
Posts: 916
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Hi indiegirl,

In addition to keeping books with a computer program, we also set up an extra Money Market Business Savings account where we can put in an automatic 25% off the top of any income. That way, we won't get hit at the end of the year with a tax bill.
zealsmom is offline  
#5 of 5 Old 07-15-2003, 06:41 PM
Free Thinker's Avatar
Join Date: Dec 2002
Posts: 2,535
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
I just use a spreadsheet format. I have Peachtree acct. software, but I haven't had a chance to figure it out, and I know how to work the spreadsheet. I recomend just a spreadsheet for now. I use a income and an expense notebook:

First col: Date
second : check number or type of transaction (CC, ect.)
thirdho to

then I have different columns for the types of supplies we buy (ex: payroll, payroll taxes, supplies, ect) It will depend on the type of business you have.

I do suggest getting one CC that you use only for business purposes, and one checkbook that pays that CC bill, as well as anything else you want to pay for w/ a check (office supplies, ect.). You might want to ask an acct. to look at your books around September so that if you need to change anything you can before the year ends.

Free Thinker is offline  

Quick Reply
Drag and Drop File Upload
Drag files here to attach!
Upload Progress: 0

Register Now

In order to be able to post messages on the Mothering Forums forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
User Name:
If you do not want to register, fill this field only and the name will be used as user name for your post.
Please enter a password for your user account. Note that passwords are case-sensitive.
Confirm Password:
Email Address
Please enter a valid email address for yourself.
Email Address:


Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.

User Tag List

Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page

Forum Jump: 

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off