1. The best problem for a small business is to pay taxes.
Tax Tips
The best problem for a small business is to pay taxes.
© 2018

2. Practice Quiz
If you took a potential customer to a restaurant, that would be...
If you work from home a lot but have an office, that would be...
If you have a car but drive your mother to the airport, that would be...
If you call a friend on your office phone, that would be...
If you call a friend on your cell phone, that would be...
© 2018

3. Learn how to be more organized for tax expenses. Make taxes easier.
The Goal
Learn how to be more organized for tax expenses. Make taxes easier.
© 2018

4. Key Points Date Car Location Entertainment Talk General Example
What not to do
Your next steps
Wrap up
© 2018

5. Grab your worksheet and follow along.
© 2018

6. Date Stay organized Do a little each day Date Records Sept 1 Sept 2
© 2018

7. Car Personal Car Miles versus Work Car Miles Lease? Bought outright?
Repair
Insurance
Registration
Gas
© 2018

8. Location Rent or mortgage Utilities Property taxes Repairs
© 2018

9. Entertainment Coffees Lunches Breakfasts Dinners Sports games Golf
© 2018

10. Talk Landlines Internet Long distance cards
Cell phone calls that are business related
© 2018

11. General Office supplies Office equipment Services Air Parking
© 2018

12. Example Car Location Entertain Talk General Date Personal Car Miles
Work Car Miles
Lease or Value
Repair / Insurance / Registration / Gas
Rent / Utilities / Repair / Value
Phone / Internet
Supplies / Equip / Services / Air / Parking
9/1/09 51 36
354.67
212.00
250.00 -
35.36
40.00
9/2/09 12 42
35.00
20.50
9/3/09 18
30.00
9/4/09 21 33
2.50
10.49
9/5/09 24
26.23
© 2018

13. Top Mistakes To Avoid Spending hours yourself, not a bookkeeper
Not collecting receipts
Not filing taxes
Not paying taxes
Not taking advantage of all of the tax rebates and throwing money away
© 2018

14. Now What? Retain and collect your receipts
Create a single file to put all of your receipts
Create a single database
Start looking for a bookkeeper
Use a bookkeeper after the first three months
Adjust how your collect based on bookkeeper’s recommendations
© 2018

15. Key Points Date Car Location Entertainment Talk General Example
What not to do
Your next steps
Wrap up
© 2018

16. Learn how to be more organized for tax expenses. Make taxes easier.
The Goal
Learn how to be more organized for tax expenses. Make taxes easier.
© 2018

17. Create a tax organization system from day one.
© 2018