Monday, February 22, 2010

Almost Tax Time!

Thanks to those of you who asked, My neck is feeling better. Seriously, I went to shake/flip my hair out of my face one slightly windy day and put my neck in spasm.

I have all my tax documents in a folder. All I have left to do is go over my mileage logs and double check my "office supply" receipts and then I can sit down and do my taxes. I think I will either owe a small amount or get back a small amount. I'd of course, love to get back a large amount and not owe anything, but don't think that's in the plans. I keep good records, but this past year I started using a program called Neat Receipts. It's a program that scans in your receipts, keeps a running total on your expenses and makes up expense reports if you need them. The nice part is I can print out my expenses and then plug in those numbers to my tax forms. It does have the capability to import the data to Quicken as well. I'm sure the more organized amongst you have spiffy excel spreadsheets with all those columns and fields and diligently scan all your documents. I'm not that excel proficient nor do I diligently scan. The nice thing with this program is it saves me the step of inputting the data in a spreadsheet. I have a pile of 2010 receipts to input, I’m slowly learning better paper management!

This year I think I will actually touch base with a CPA or some other person to find out the best way to pay myself via my LLC. I'm filing out a Schedule C, but I do have a "company" that I "own" listed with state as an LLC and want to make sure that in the future, I put this part-time 1099 income through the LLC and then pay myself. I have no idea if it will be a tax advantage for me or what, but time to talk to a professional once the tax crunch is over.

1 comment:


The tax man comes again without fail.