Whether you cut hair, cut lawns, or cut checks- don’t cut corners! Good bookkeeping is an essential element to any company and preparing for their taxes. Here are some tips from the IRS to ensure you’re keeping good records. TaxDoer.com offers bookkeeping onsite and virtually,…
Category: record keeping tips
Business or Hobby? Know the difference!
From woodworking to soap making, many activities can be sources of income, but is it earned income, or hobby income? If you haven’t turned a profit in three or more years, the IRS might say your business is a hobby. Making money alone isn’t enough for the IRS…