Taxes, and all that other mess..

[Stanka Kordic]

When I first started as a freelancer several years ago, I followed the categories listed in the Schedule C tax form. I set up my file cabinet with a folder for each category, and filed my receipts accordingly as i got them. Each quarter, I enter these transaction in a ledger (with a monthly heading), as well as what's in my checking acct. that I may not have had a receipt for. All this I feed into my Quicken program that computes the totals, and gives my CPA an organized record. It seems like a lot of work, but I like having a paper trail, as well as a computerized one. It only takes me about an hour tops each quarter to do this.

I too would recommed using a professional accountant if time is a premium for you. I am also a mom and don't want to fiddle with figuring out all the details of every business trick a self-employed person needs to know. My CPA is great for that. I hope this makes sense!