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Old 08-21-2007, 12:28 PM   #5
Tiger's Mom
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Join Date: Dec 2005
Location: Spokane, WA
Posts: 9,339
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If you have an accountant, ask him what you need to do as far as recording your expenses. I know I was told I cannot charge LABOR which really makes up for a chunk of the expense really, so it sucks. Also if you have a full time job (like me) it is best to open a P O box as that will be your point of reference on all mileage charges . . . this is too much work for me so I never charge my miles

Also, if you have a set-up at home where you will be doing all your business, look around the entire room and include all of it to your expense list. You can pro-rate your utility bills as well . . . they key is to charge, charge, charge . . . . if you make as much as a $1, you will get taxed

oh, also, you don't really have to register your business until you are absolutely certain you want to do this. But in the meantime, just keep all your reciepts so when tax season comes, the accountant can just include them in the tax preparation.

Good luck
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