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Tips to prepare for Tax time

Discussion in 'Business Operations' started by maal, Apr 2, 2004.

  1. maal

    maal LawnSite Member
    from georgia
    Posts: 34


    Someone, ANYONE please post some tips on how you organize all this tax paperwork.

    What filing system do you use throughout the year?


  2. Premo Services

    Premo Services LawnSite Bronze Member
    Posts: 1,516

    I use quickbooks pro for the business. I made groups for every expense I have. My accountant has helped me with this. As I purchase something, I write on ticket what the expense was, and then enter them into quickbooks. At the end of the year, I make the reports of the purchases that I have made. I make a master report of all expenses for him, and he does the taxes. My wife has also helped me in filing the mass of reciepts in a storage box with seperate holders.

    I used to do it with quicken too and did it the same way, seperate groups for all the expenses, then made reports.

    For the mileage on the vehicle, I have a palm pilot, and use a mileage program, just enter the start and end miles, a reason for the miles, and if they were business or personal miles. The program totals the miles seperate automaticaly. Before I got this I used a notebook and made four columns.
    Start End Total Bus. or Personal. Total them all and they are done. I must say the program on the palm pilot has saved me a ton of time figuring the total miles.

    It never does get any easier, though, I still dread doing all the reports and stuff when it is time.
  3. MacLawnCo

    MacLawnCo LawnSite Bronze Member
    Posts: 1,847

    I use a large excell file for monthly and anual calculations. with enough time and pateince you can get excell to do just about anything

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