Taxes

trick-r-treat · 02-12-07, 03:41 PM

What is a good way of keeping up with all of your small projects and payments for tax purposes?

penguinmama · 02-12-07, 10:17 PM

A spreadsheet would be a good way. If you don't have Microsoft Excel, you can get OpenOffice from OpenOffice.org for free, and it is every bit as good as Excel (and is compatible, too) but FREE.

SophMedia · 02-15-07, 10:35 AM

Quote:

Originally Posted by trick-r-treat

What is a good way of keeping up with all of your small projects and payments for tax purposes?

You can use Excel as the previous poster said, but I highly recommend grabbing the 'Quickbooks Starter Edition' - I believe it retails for around $149?

sarahlorrain · 02-18-07, 05:42 PM

I have a three ring binder, and whenever I am paid from someone for anything, I make a copy of the check, or print out the paypal details, etc and put it in the correct section in the folder. I am a very hands on person, and this works better for me than a program; and cheaper.

SophMedia · 02-19-07, 04:50 AM

Quote:

Originally Posted by sarahlorrain

I have a three ring binder, and whenever I am paid from someone for anything, I make a copy of the check, or print out the paypal details, etc and put it in the correct section in the folder. I am a very hands on person, and this works better for me than a program; and cheaper.

I don't mean to be cynical, but how does that take care of your tax delimma?

Calypso · 05-26-07, 05:14 PM

Most of my work is done on the web, so I generally receive payment through Paypal. When a payment notice arrives, I simply print it out and stick it in my "income" drawer. If I am payed by check or direct deposit, I make a photocopy of the check, or of the deposit notice on my bank statement and stick that in the income drawer as well. At the end of the year, my accountant gets it all, more power to her!

I also have a "receipts" drawer for keeping track of deductions, of course.

It's not as sophisticated as Excel, but it's quick, easy, and doesn't require much brain power--in other words, exactly right for me!

fitnessk · 05-27-07, 08:50 PM

Having excel or a database does work well. But I think the others have a good idea too if they don't wish to keep track of their income on the computer. Keeping printouts and copies of everything in a place that can be accessed at tax time would work just fine I think.

phaststix · 05-28-07, 01:26 AM

Quickbooks comes highly recommended. I believe you should have all data on paper as well on your harddrive. Organization is the key (which is something we all already know

)