2017 Income & Expense Review

Discussion in 'Ask An Owner Operator' started by ChicagoJohn, Dec 28, 2017.

  1. Gearjammer79

    Gearjammer79 Road Train Member

    1,275
    918
    Nov 25, 2017
    0
    This is interesting.
     
  2. TallJoe

    TallJoe Road Train Member

    1,615
    1,534
    Apr 12, 2016
    Chicago, IL
    0
    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.
     
    Banker Thanks this.
  3. Banker

    Banker Road Train Member

    1,008
    1,706
    Aug 19, 2012
    0
    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.
     
    TallJoe Thanks this.
  4. Cheezy_smile

    Cheezy_smile Light Load Member

    155
    162
    May 23, 2017
    0
    I claimed every penny spent on healthcare when I was getting it thru Obamacare exchange
     
    TallJoe Thanks this.
  5. Cheezy_smile

    Cheezy_smile Light Load Member

    155
    162
    May 23, 2017
    0
    Quicken is not user friendly at all. If you make a mistake in data entry it’s really annoying to get it corrected
     
    cat smoke and ChicagoJohn Thank this.
  6. ncdriver1

    ncdriver1 Medium Load Member

    655
    573
    Dec 3, 2012
    0
    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.
     
  7. Scooter Jones

    Scooter Jones Road Train Member

    4,694
    6,242
    Apr 19, 2011
    PNW
    0
    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.
     
    Cheezy_smile and Banker Thank this.
  8. nutcase

    nutcase Light Load Member

    242
    86
    May 2, 2010
    Meridian, ID
    0
    It is deductible whether you are a sole proprietor or incorporated.
     
  9. cat smoke

    cat smoke Light Load Member

    75
    71
    May 30, 2016
    0
    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.
     
    ChicagoJohn Thanks this.
  • Draft saved Draft deleted