I like to get my hands dirty, literally and figuratively. Running my own business provides inner fulfillment and daily satisfaction unmatched by any previous job. Yet wearing multiple hats, at times, is tiresome. I enjoy sewing, dreaming up new ideas, interacting directly with my customers, taking charge of my sales and my future. But business tasks, I would rather cover my eyes to.
Specifically . . . taxes.
|It's Only a Number by Artzink|
greenie bean recycle is entering its fourth year. In the past, I've struggled to maintain records which has caused frustration, but more importantly caused me to lose track of vital information that could lead to tax deductions. In 2010, however, I learned of Outright. I cannot express enough how essential it has been to the welfare of my business and my state of mind! It allows you to add in all your expenses and categorize them according to tax categories. You also can calculate your mileage which is a significant deduction many fail to take.
|Tax the Rich by Production Apparel|
On January 1st, I printed out reports from Propay, Paypal, and Etsy. Outright formulates a Schedule C as well as Profit and Loss and Spending reports that I printed. Jimmyredhed and I used these reports to calculate sales tax I collected for sales in Illinois as well as sales tax I paid on purchases. I figured Etsy sales and craft show sales separately before totaling all sales. This took approximately two hours. I had my tax preparer (MIL) check my figures which appeared to be correct. Then filed and paid online at http://www.revenue.state.il.us. This took about 15 minutes.
|What Entrepreneurs Think by cazzam|