Crafty1_AJ Posted February 9, 2023 Share Posted February 9, 2023 Yahoo! Tax season is upon us. 🤮 On the plus side, Amazon and Etsy are now collecting sales tax for me in my state, so less work for me! Whoop, whoop! I used to have to collect and remit myself. Less paperwork = happier AJ.  I like to think I get a bit more organized and efficient with each passing year when it comes to tax time. Hubs is relentless -- "Got that Schedule C completed yet?" There's no way I can forget April looms. 😆  What tips do you have for making tax time less stressful? What software do you use for your bookkeeping? Like it? Or eyeing a change in means and methods? I'm old school -- I love Excel spreadsheets. And I toss all receipts into a basket all year long, then sort 'em at tax time. Don't laugh too hard!  1 Quote Link to comment Share on other sites More sharing options...
pcbrook Posted February 9, 2023 Share Posted February 9, 2023 Your system is pretty much the same system I use! LOL 1 Quote Link to comment Share on other sites More sharing options...
franu61 Posted February 10, 2023 Share Posted February 10, 2023 I am even more old school! Pencil and those green columned pads. I TRY to write down stuff as it happens and put receipts into envelopes for each month.  1 Quote Link to comment Share on other sites More sharing options...
MilosCandles Posted November 9, 2023 Share Posted November 9, 2023 PTSD...   So I use https://www.waveapps.com/ which is free online accounting app. Like quick books but free. Love it.  The other saving grace for me is Dropbox. I have the free version. Get the app on my phone and every (non-online) purchase I take a pic of the receipt and it saves it to dropbox for me. If it is not a typical place I order from online, I will save that receipt into dropbox. This all makes like soo much easier at the end of the year.  Now WAVE is suppose to offer something like this but I just haven't tried it.  Rarely can I get everything imputed in time to meet the 4/15 deadline, I always file an extension.  One thing think about....  You can invest up to ~20% of profits into SEP IRA or a SOLO 401k pre tax. I would talk to a financial planner about this. Doesn't matter if you already invest in a work 401k or anything. This helps lower the tax burden some at tax time. Turbo tax has a section to let you know max your max contribution can be for these. Considering this is a side hustle for me I try to take full advantage of this. 1 Quote Link to comment Share on other sites More sharing options...
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