[Jewelry making - Article 00333] - Re: [Orchid] [Biztalk] Taxes - First Sch C

[Leah]

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>     Later, I bought accounting software, learned to use it, and at the
>     end of the year I bought a copy of TaxAct and filled in the blanks
>     - and it was easier than making appointments and scheduling trips
>     to my accountant at his convenience. In the process, I learned what
>     was profitable and what I underpriced. I learned what I had too
>     much of, and what I bought recurringly at too small a discount. I
>     never learned to charge enough for my time, but... 

    I also use a tax program on the computer - Turbo Tax, if I remember
    correctly from last March. It asks for all the same info an
    accountant would ask for, which is good because if I forgot to
    calculate something, such as the various kinds of deductions you can
    take for a small business, it reminds me. I answer all of the
    questions, the computer does the math and prints out my form to sign.
    It's really not too bad. What's harder (for me) is finding all the
    receipts and credit card statements that I put in 'a safe place'
    throughout the year so that I can actually calculate the deductions I
    can take - things like having cards printed or buying toner
    cartridges. 

    Since I have no employees, and my jewelry business is part time, the
    paperwork involved isn't that bad - if I've done a good job keeping
    track of the paper trails throughout the year. I'm sure it's a lot
    more complicated for people who do this full time, or have
    employees. 

-Leah

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