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cuttin_in_farm 03/12/21 12:31:33 PM #1: |
Im starting my own self employment venture, but taxes is the one financial sector Im weak on.
Do people just... keep receipts of everything they buy for business? Or can I just have a separate checking account for that? I wanna get some cards and decals for my car, but I really would prefer to use credit for the points. But does it have to specifically be a business card? Any reliable resource on this would be neat. --- A show of kindness may not do much help, but a show of cruelty may do much harm. ... Copied to Clipboard!
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Sariana21 03/12/21 12:41:43 PM #2: |
No, there is no requirement to have a separate business account. But you do need to track it. Do you use a financial tracking program (e.g. Quicken)? And yes, keep your receipts.
--- ___ Sari, Mom to DS (07/04) and DD (01/08); Pronouns: she/her/hers ... Copied to Clipboard!
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Devstacular 03/12/21 12:44:00 PM #3: |
cuttin_in_farm posted...
Do people just... keep receipts of everything they buy for business? Or can I just have a separate checking account for that?Both, ideally. ... Copied to Clipboard!
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Wetterdew 03/12/21 12:44:39 PM #4: |
Can you take photos of receipts or do you need the original receipts for everything?
--- Talking about video games? it's ok to just disagree with each other on the internet. No point getting hostile or snide about it ... Copied to Clipboard!
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Sariana21 03/12/21 12:52:04 PM #5: |
Wetterdew posted...
Can you take photos of receipts or do you need the original receipts for everything?So many transactions are all online now anyway, which produces only a digital receipt or email. I don't see why a digital copy of a paper receipt wouldn't serve the same purpose. But...I am not an accountant. Or an IRS agent. --- ___ Sari, Mom to DS (07/04) and DD (01/08); Pronouns: she/her/hers ... Copied to Clipboard!
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cuttin_in_farm 03/12/21 12:59:56 PM #6: |
Sariana21 posted...
No, there is no requirement to have a separate business account. But you do need to track it. Do you use a financial tracking program (e.g. Quicken)? And yes, keep your receipts. I was searching around for a good program to use. Ive heard of Quicken a lot, so I might just use that. Devstacular posted... Both, ideally. Makes sense. I should get a drawer or case for my receipts then. --- A show of kindness may not do much help, but a show of cruelty may do much harm. ... Copied to Clipboard!
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