Tax Time - AGAIN... - Tilted Forum Project Discussion Community

Hanxter · 02-12-2004, 02:03 PM

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???

powerclown · 02-12-2004, 02:22 PM

Unearthing W4 form, 10 minutes.
Turning computer on, 2 minutes.
Typing up forms nice & neat, 15 minutes.
Clicking on *SEND TO IRS* button, 2 seconds.
Printing out copies, 2 minutes.
Taxes done in under 30 minutes, priceless.

For everything taxes, there's TurboTax.

02-12-2004, 02:03 PM	#1 (permalink)
Hanxter The Griffin	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..*

02-12-2004, 02:22 PM	#2 (permalink)
powerclown Junkie Location: Detroit, MI	Unearthing W4 form, 10 minutes. Turning computer on, 2 minutes. Typing up forms nice & neat, 15 minutes. Clicking on SEND TO IRS button, 2 seconds. Printing out copies, 2 minutes. Taxes done in under 30 minutes, priceless. For everything taxes, there's TurboTax. Last edited by powerclown; 02-12-2004 at 02:28 PM..