2017 Income & Expense Review

This is interesting.

 

I think, KR has got a very thorough and robust system, I can't speak of his software, I never used it. But the organizational aspect, such as locating receipts in a briefcase with categorized tabs, scanning receipts etc. I use similar method. I just prefer to use Excel as software as I can tailor it to my own needs better.

 

I agree with you totally. His system pointed me in the right direction and I have learned and tweaked along the way. For some people the idea of running a small business can be overwhelming at first, myself included. With the help of others and technology it really isn’t that difficult to keep track of my own numbers without spending a lot of free time doing it.

 

I claimed every penny spent on healthcare when I was getting it thru Obamacare exchange

 

Quicken is not user friendly at all. If you make a mistake in data entry it’s really annoying to get it corrected

 

I'm going to deduct wherever it benefits most. I have my business account paying it, my accountant may not like it but thats what I pay her for.

 

That's true. Everything I do (except my accounting software) is digitally filed, sorted & stored on G Drive. The biggest obstacle to being organized is staying on top of it, which requires some discipline, obviously.

 

It is deductible whether you are a sole proprietor or incorporated.

 

i tried Quickbooks, im young (20) and for the life of me i couldnt figure it out, i somehow got my bank account added to it. geez it got even more complicated.

 

Gross 207k on 157k Miles
Fuel 53.5k
Like the gross, need to drive fever miles