Filing tax Returns Made Easier
There are always tasks and system that will help keep you on track for your business goals
Get the Evernote App on your phone to photograph receipts log ideas etc
if you are a new entrepreneur you may not be as organised as you can be. If you aren’t the best at keeping track of finances before filing your tax returns then Evernote App may help. It allows you to photo or clip anything you need to and then tag it. The best thing about this is the fact that it does recognise text in images, so if you write on pieces of paper it recognises it.
Create new folders in email for receipts
Make an email folder called “Business Receipts 2021”. Sometimes an email is all you get when you purchase information for your business, such as things from Amazon. Or even a Paypal receipt, Once in a folder you can keep track of them more easily.
Set up a Calendar Event once a month
Keeping on top of expenses is not the sexiest side of Internet marketing, and it's a job I hate, but I also know it means I never miss a receipt. Whatever happens, nothing gets lost and I know it saves me money at the end of the year. Another advantage here is the fact you can access the profitability of your business. It stops you buying your head in the sand.
What Are Your capital needs?
Every business needs investments are you likely to need a new computer, camera get during the year. If you know what these expenses are going to be you can plan marketing campaigns.
Organize your computer to make sure 2021 files are easily found
File away last year's receipts in a 2020 file.
Fix your business banking account
Set up a separate business checking account
Recent Comments
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We do it a bit differently. On Saturdays, my hubby updates our personal and business checking accounts. On Mondays, I update our Paypal and Credit Card accounts, paying any cc bills. We use a financial program called Moneydance to keep track of it all. Then I do the actual tax forms, sometimes with help from our accountant if needed.
Thank you so much for all the reminder, Catherine!
Yes, I have a lot to keep too.
Thanks for sharing.
Joyce
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A Great tip, Catherine! I still do things the old fashioned way though~ Pen and paper!
Jeff
The Evernote app is still useful, LOL I remember those days
Oh, of that, I have no doubt, Catherine--on both counts!
Jeff
Thank yo ufor the reminder the old fashioned cash book
Ha ha, you are very welcome!