Tax filing season is upon us and now’s about the time when you start tearing your hair out while trying to organize your business expenses and deductions. Been there, done that. Luckily or unluckily, whichever way you choose to look at it, I had very little paper work to sort through this year due to the trials I have experienced in this lack luster economy. Reasons for this are noted in my personal blog post, Little Profits Prompt Me To Temporarily Close My Candle Business and are also elaborated on here in the article Candle Wax + Rising Fuel Costs = Zero Profit . Taxes are the one aspect of running my own small business that I do not miss dealing with.
Tim Parker, a guest blogger on The Digerati Life, provides tips for tracking your tax receipts and expenses in the article Taking Income Tax Deductions? Track Tax Receipts When You Itemize. Why do I find this article useful? Because Tim points his readers to several useful online and iPhone apps that you may not be aware of, such as Milebug.com.
I am NOT looking forward to preparing my taxes this year
Wow. Tim did great in his 5 tips article in keeping track of our taxes.
Taxes are a real pain — especially if you let your bookkeeping or accounting records go. I’ve found that it pays to keep things updated weekly, otherwise it’s a nightmare at tax time.
Taxes are a real pain — they really are!
Thanks a lot for the shout out! Glad that you found our article useful!
When will it be easier to do the tax stuff? How about phasing out the cumbersome system with a flat tax and then in as the next step only have a consumption tax?