Tax Reminder

[BelovedDollDesigns]

Tax time is almost over! I wanted to give everyone a reminder to get your 2013 taxes done asap!

I went to a CPA for the first time ever a couple of weeks ago because of my business. But it's all done finally, yay! :) Make sure to have your W2s (if you still have a day job like I do) and all your records or income and expenses, as well as mileage records.

If you don't want to go through a CPA to have it done, you can also use TurboTax. This is what my boyfriend did for his taxes (and he has his own business as well) and he did that finally last night.

I went through a CPA because I was feeling too swamped to try and figure all this stuff out and felt better having a professional handle it so there wasn't mistakes. Plus, I was able to talk to them about my record-keeping system I made so I can make improvements to it for next year. She said that I did really well for a first run and really only have to change a couple of things (such as how I'm categorizing expenses).

So get your taxes done if you haven't already!!!

[CaseyHPerez]

We always used turbo tax but this year we hired someone to do our taxes too. We are co-owners of a dog walking business that we started to give us the ability to paint for freely without having to work a "normal" job, but to also give us a little more of a financial stability than solely living off of art sales. I set our business up as a partnership which included both the dog walking and the art side into one business... which apparently made our tax situation very complicated. It was so nice to have someone else do it for us! And she gave us some great advice to make it easier next year. We will from now on be two sole proprietors who "share resources". Might even be able to to it ourselves next year :)

[Former_Member]

I started using a CPA last year, too. He gave me a list ahead of time of what I needed so I went to our appointment well prepared. Basically he called out the category and I told him the numbers as I had them added up already. It was quick and easy and so much less stressful than doing them myself like I had been doing. Last year was the first time I was filing business income instead of hobby income and I wanted to make sure I did it correctly. I still need to get ours done this year though. Time is running out quickly!

[krjewelrydisplays]

Even though it can be a pain, my husband gets ours done, as soon as I have all the paper work for my business done. He will start bugging me Jan 1 so I get it done ASAP!