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Old 02-12-2004, 02:03 PM   #1 (permalink)
Hanxter
The Griffin
 
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Tax Time - AGAIN...

what i do is use what's called the "Dome Book"

i use the weekly entry ledger and fill in the blanks ONCE a year...

first thing i do is load the "cash" reciepts by date

second is i go through all my checks that i wrote for the year & reconcile my invoices for those checks by date

third is i go through my bank statements for all credit card charges AGAINST my account as well as any service charges

fourth is to enter "sundry" expenses, i.e. newspapers you purchase for office/info regarding your bizz/coffee you purchase for clients, etc

on a note - where i live i can't get cable - being in the sports bizz i need ESPN/NESN/FOX Sports etc...

when my local network went from FOX to UPN i lost the World Series & NFL games as well as the Super Bowl - so i bought a dish - i can deduct that in part as part of doing bizz

i reconcile my books once a year and it only takes me 4 hours +/- to do so for the whole year...

my sales taxes are quarterly so that's not a problem...

so how do you do yours???

Last edited by Hanxter; 02-12-2004 at 02:06 PM..
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