To simplify some of the bookkeeping, have a separate checking account and credit card for the business. It helps when it comes time to remember what is personal and what is business.
The income goes into the business account, the parts, tools, inventory, postage all are paid via the business credit card.
I use Quicken to download all the financials from both the personal account and the business account. If you categorize the expenses, Quicken will do a great report at the end of the year.
It will also import into TurboTax. Though I use TurboTax, I don't use the import function.
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Today's Featured Article - On the Road with Dave Gohl: Tractor Club Beginnings - by Dave Gohl. I was surprised about a month ago when I got a call from a fellow tractor croonie. His message was interesting and to the point. He's says "Dave, I've been thinking about starting a Two Cylinder club for our area. What do ya think?" It was a loaded question. I said that I would be interested, and was wondering what his next step was. (Although I was talking under my breath, since I thought of this some years ago) My friend, Arlyn Lamb of Lakeville, Minnesota was sincere in his miss
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