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Why You Should Keep Those Receipts!
$ TIP OF THE DAY: As tax season comes to an end, start thinking about next year. If you own a business, save EVERY SINGLE RECEIPT you have relating to the business. At the end of the fiscal year; separate the receipts by category (gas, food, stationary, travel), add them up and use it to make a 1 page write up of your business expenses. Give this to your accountant (she may kiss you).I keep my receipts in a shoebox. When I gave my accountant my one page write up, he gave me a steep discount on my tax preparation! All because I saved him time! Time IS money.
My one page write up also included; mileage, charity, school expenses, clothing, shoes, marketing material, educational material and anything else I could think of.
It left it up to him to let me know what things were deductible and what things were not.-The Budgetnista
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