Taxes

[LittleCrawfishCC]

Thank you!

[TomCopeland]

Too much?

So, I am sitting here doing everything that I need to do for taxes this year. I am at awe! Because I feel like my numbers are high, but everything is legit! Here is a breakdown.

Income - $35,739
Deductions (Food, toys, ext ext) $26,440
Insurance/Office expenses $3,077
Utilities - $4707
= $34,224

- $1,515

This is not even with my mileage :-/
I know last year I had a loss of around $6,000
These numbers are rounded to the nearest dollar.


Is this to much for my second year in business?

That's the wrong question. The right question is, "Do I have receipts and other records for the expenses I am putting on my tax forms?"
You can only deduct the time-space % of your utilities and other items that are used for business and personal purposes.

On February 12th I'll be doing a webinar: "Tax Changes for 2012: How to Avoid Mistakes on your Tax Return" To register http://events.r20.constantcontact.co...&llr=yatrx4cab