Are you effectively managing your finances to simplify your efforts when it comes to tax time?
In episode 465 of the Bokeh Podcast, Taylor Ingles describes three ways to improve how you as a business owner can efficiently manage and simplify taxes. Listen in as she explains the importance of documenting and tracking your finances.
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Brand Position: Michigan Wedding photographer for the couple that believes marriage is an opportunity to spend every day with their best friend. By photographing everything from barn weddings to city weddings, I allow my clients personalities to take the center stage of my work and my artist touch is felt through timeless editing and elegant posing. (1:46)
Client Experience: Reading the Room (10:27)
Book Recommendations: Shoe Dog (23:04)
Transitioning from Accountant to Photographer (34:59)
1. Receipt Management: You’re required to keep your receipts for three years. (44:41)
– Track all of your receipts in a receipts folder.
– Organize it by year, then by month.
– Track the date, amount, and vendor in the file name.
2. Expense Tracking System: Find a system that works best for you while also classifying expenses. (50:36)
– Paper & Pencil
– Excel Files
3. Stay on top of your tracking. (1:01:51)
– Pay your estimated taxes every 3 months.