Managing your business

Why pay someone to do that when you can do it yourself. You guys think it is so hard. Redd says he rites it down in a note book, okay he already has it done why pay someone to send you a fancy paper, your a one truck operation. I have a 6x9 envelope for every week I right down my revenue on the back along with what I spend and put the tickets in the envelope. When I get home it takes less then five minutes to put everything in the computer. I know everybody has their way of doing things but why throw away money. I do this myself and at tax time I take nice neat form with all my expenses on it instead of all my receipts in a shoe box to my tax person and it cost me $125 to do my taxes. I have seen some tax people charge as much as $100 a month for doing everything.

It's kind of funny really look how much time you spend on this forum each week typing and responding to messages.

 

This is a standard Profit and loss statement for trucking.

 

Here is another one out of Overdrives Business Book.

 

good point big john--i guess every bit you can save by doing it yourself is more in your pocket as well and that way you would be on top of your expenses quicker than waiting for your statement

 

But John....

I got more important things to do when I'm home. Sure, it may only take 5 minute to produce a P&L on my own. But why do it?

Sometimes I can be on the road for 2-3 months at a time. So I mail everything to my bookkeeper/cpa while I'm on the road. Sure, my bookkeeper/cpa charges me $85.00 a month. Plus what ever I pay in postage. Those fees are a 100% tax write off. And when I get home... All I have to do is open up a envelope & wa la.... I'm looking at a nice & shiney P&L statement.

But then again, I'm also one of those people who will get as much work done to my truck while I'm on the road... Because like I said above, I don't want to deal with it while I'm home. I got better things to do at home.