There’s parts of the entrepreneur life that I dare to say NO ONE likes. While seeing revenue numbers jump is a great and welcome sight, when it comes to tax season everyone lets out a proverbial goan. I get it, we love to focus on the creating and completing projects for clients over the functioning of an inner working of a business. The project management, administration, emails, generating leads, and closing sales is a lot already. This resolution is inspired by the thing I tell myself every tax season. (And will remind myself of this Saturday as I go through stacks upon stacks of receipts.)
Are you an creative looking for some resources to get started?
We use a simple excel sheet to track incoming revenue, CRM, and time tracking. It’s simple and works for the current scale of our business.
MileIQ. Every time you drive, it records it and stores a downloadable record (that you can send directly to your CPA). Use this app to track your mileage quickly and simply.
Find a good accountant. Seriously. Accountants are worth their weight in pure gold. Find a person who knows how to work with small business owners, creatives, and who can handle processing loads of deductions.
Looking to know what is legal deductions and what is not? Trying to figure out if booking a spot in that mastermind or going to the next conference is worth it. My friends at the Fresh Exchange wrote a phenomenal article on just this that is worth the 5 minute read.
Here’s to an amazing tax season! We’ve got this.