TAX TIP OF THE DAY... every small business needs an EASY bookkeeping system
You can't fake your way through business expenses without getting your butt kicked at tax time. Missing just one $100 deduction costs a profitable business up to $47!!!
WHAT IS A BOOKKEEPING SYSTEM?
Any system that helps you to capture ALL (not just some) business expenditures and business income.
HOW? IS IT EASY? DOES IT INVOLVE MATH?
There are many systems. You should choose the one that works best for you. YES, IT CAN BE MADE VERY EASY! No, you don't need a lot of math. There are just certain rules that must be followed concerning how you pay for things, which documents to keep, and where to keep them (hard copy vs online vs computer). EASY!
If you are reading this, you probably need some help. Hire an accountant to make your life easier and to stop throwing your profits away on missed deductions. A seasoned business CPA will pay for themselves many times over.
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If you need tax help... www.baboiancpa.com