Ok, so I know this post looks serious, but it is actually going to be super light.    Sure I could have had a professional come and guest blog and write about everything taxes….. but real talk: I know y’all want to hear from a real clueless person like me and how I survive taxes year in and out.   I’m  no expert and these are small tips that helped me…. but if I can do it, SO CAN YOU!

1. Don’t dive in alone!   Yes Turbo Tax is great, and free.   BUT when it comes to your business you want things done right, so make sure you talk with a real CPA, or some one that really knows what they are doing.   They will guide you!  And if they don’t, find someone who will.   I have been lucky to have great resources.  (THANK YOU Brandon and Jon…..it is great knowing I can pick up the phone anytime I have questions.)    There is nothing cool about “winging” it when it comes to taxes.
2. Make sure that every year you take notes or learn from the things that were hiccups or slowed you down from the year before.   For example, my first TWO years I lost our property tax receipts…..  not a big deal, I was able to track them down, but it was like 30 minutes and a huge extra step.   So finally year 3…. after forgetting two years in a row, I had them organized and tucked in my folder.    Everyone has their “thing” that they forget, that was mine!
3. Save a nest egg.    I have learned not to assume we will get money back, its just too hard to predict…  so make sure you talk with your person (from #1) about how you can save money and be prepared.   A lot of businesses pay quarterly taxes, or if you are newer you might just want to save 1/3 to 1/4th of what you make.    It will make tax season much more enjoyable (or less horrible) if you are prepared hehe.
4. Save important stuff.    I’m bad about saving receipts… bad….. but I do have a very unorganized folder of digital receipts, screenshots, and generally important crap on my computer.   It helps!   Any expensive purchase that is delivered to my house, I save those hard copy receipts….  but small trips to Wal-Mart, forget it, I’m just not there yet!   BUT having a business credit card where I can keep all those transactions digital is a great way to cover your bum.
5. Profit and Loss Report.   This is important!  Tracking all your money in and all your money out.   I use 17hats, and it is amazing.   It connects right to my bank or credit card and all I have to do is categorize everything.   So much easier than my first two years of manually putting everything into excel.   Being organized AND having less work is worth the investment of a great business program with such great bookkeeping features.   Figure out what works for you and your CPA and make sure you check it monthly.   Come on, this is the fun part, you get to see how much dough you are making 🙂
6. Remember this is all an important part of being LEGIT.   So embrace it.   We may not ENJOY it, and we might just want a huge glass of wine when its done….. BUT at the end of the day we do this because we get to live a life of a job we love.    That is pretty awesome if you ask me! Totally worth a few weeks of headache.

 I know the sticky business stuff is not always my strong point.   Therefore, I’m not afraid to ask for help from professionals.   I just want to take pictures and make a living, I will leave the yuk yuk up to them!   If you are similar to me, then ask for help.  Don’t hesitate to pay a professional.   We can pinch pennies when it comes to eating out or buying that new purse…. don’t pinch pennies when it comes to making your business legit.   Trust me, it will help your confidence AND your business.   YAY!!!  Cheers to a GREAT YEAR!!!

Like this fun little stock image?   You can buy it in my Etsy Shop!