As a small business owner, and yes, I work at my
writing full time and own my business, I don't really
like January much. It means 'tax time'.
I'm really very lucky, though. My father worked years
for the Internal Revenue (Known today by some as the
infernal revenue). I also worked for a tax preparation
company and did taxes myself for a time.
I learned from my father two very important points.
I'll pass them along with the hope that it might help
First, records are essential. I keep copious records. I
have sheets detailing every cent I spend on my business,
but I also have every receipt to back up those expenditures.
I have things catalogued, receipts numbered and saved and the
lists of all those receipts backed up on my computer - in
two places. You only have to have a serious crash once to
learn to back thing up more than once. So records are the key.
And second, be honest. If you spend something for personal
use, you can't, honesty, claim it for business. As much as
I hate to say it, what is taxable, has to be taxed. I don't
like to pay taxes, but it's part of living where I do. So,
I will figure what I have to pay, pay that and but not a
So my writing has been paused while a gather records and
prepare to figure out what I legally owe our government. That
will require another couple of days when I get forms from a
number of companies. Then I can once again get back
to my first love (well, my DH is my first love so my second
love) writing. In the meantime, I'm delighted to take time
out of tax preparation, and promote my new book.
Visit Champagne Books to find out more.
"Heart-warming Romance with a Sensual Touch"