What do I need for tax time?

Hopefully you have been keeping track of all your bills for the year, and that will make your task easier.  Gather up everything that you have and take it with you to whoever does your taxes, or if you do your own, it will help as well.

Organize your paperwork by type – expenses together, sales together, etc – and add each one up.  You may also have categories such as advertising, supplies, giveaways and others.

Mileage – Figure out how many miles you drove, and what how many are business and how many are personal

Household Bills – If you can use any of your household bills, take these as well

House Costs – Depending on where you live, you may be able to deduct a portion of your house.  If so, you need to figure out what portion of your home is used for business.

Remember, January 1 is a new year, so you need to start a new box of paperwork.

  • Note:  I am not a tax accountant, so make sure to talk to your tax preparer for advice.

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