It is that time of year! Time to begin thinking about taxes and gathering together all your receipts and invoices. This is a task that I totally dislike doing. I think it is because I’m not as organized with my records as I could be. Yes I keep them all in one place, but they are just thrown in a box and then I have to spend time sorting before I can even begin to organize to take to an accountant or do them myself. Sometimes I wonder about the purpose of all this extra work.
Richard Bramhill for Mompreneur Ink says:
“The goal is to be able to recreate what happened to the business during the year from a tax and accounting perspective. It is almost impossible for most of us to sit down in February or March and remember what we spent or received in January of the previous year.”
Richard provides several tips for making the job easier and also tips on some deductions we might normally miss. I found the post helpful and would benefit all types of entrepreneurs.