Like people are telling you get a CPA NOW! Yes the IRS will get upset if you don't estimate your taxes, penalty + interest.
How taxes are done changes every year. The IRS will send up a red flag if you are in business and don't use a professional to do your taxes.
I like to use spread sheet to keep my records organized. I do my tax records the way my CPA wants. I take him a print out of my records all totalled up the way he like them. Keep receipts for everything.
I use a credit card for my business, so if I lose a receipt, I have a backup credit card copy.
My credit card only pays me 1% cash back, but that is better than a debit card which pays you nothing. I almost never write a check. Credit card is auto-paid from checking on the day it's due, no late fees that way.
My sister owns a heating/air business. She uses a SoutWest credit card and gets enough points to fly her family to Florida over Christmas. Not to mention, they fly there many times in a year for free.
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Today's Featured Article - The Perfect Restoration - by Chris Pratt. Often, in quiet moments, I have wandered back in my thouhts to the many tractors I have seen over the years and wondered which one inspired me the most. Sure, we have a fond attachment to one brand and model or another, sometimes it was remembering that first time we got to climb up in the drivers seat and command that roaring beast, or maybe because when you see that special model, you can't help but see Dad on it, he's gone, but everytime you see a tractor like his, it's a like part of him i
... [Read Article]
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