taxes

[sunshine wr]

just wondering how some of you prepare for april 15 what do you use for write-offs like your vehicle do you do mileage or just keep reciepts for gas, repairs and such ,meals ,advertising,loses.any ideas i think this would be a good subject to touch on.

[wisecrackwr]

This is Chris with WiseCrack Windshields, LLC. As some of you may know I am a 19 year old owner of WiseCrack Windshields, LLC. from Beaverton, OR. There isn't much that I get intimidated on easily; however, TAXES is one of those things that makes me cringe. I have saved every recipt from my business vehicle, to gas, and even the occasional dinners that I provide for various customers of mine. I hope my tax lady can make use of them. I personally am keeping track of vehicle millage as well as saving gas recipts just because I was not sure which one would give me the most benifit. How are the rest of you people out there handling taxes?
http://www.wisecrackw.com
Sincerely,

[DaveC]

Personally, I keep a record of mileage and claim mileage at the standard rate, including trips to the bank and post office box. This way, by knowing my starting mileage Jan 1, and ending mileage Dec 31, I can compute percentage of use of personal vehicle for business and then deduct that percentage from total interest paid on car note as well.

[sunshine wr]

thanx, for the info. anyone else got ideas?

[Coitster]

Taxes???
Are supposed to pay those??
Man I knew I was missing something.
Coitster

[Repair1]

Check with your account see what works best for your situation, me personally I set my company up as a corporation and I am just an employee. I pay most my taxes quarterly. I also set my year up as a physical year instead of a calendar year. I made it so my year-end is June 30th I pay my year-end taxes by September, which fortunately is when I have the best cash flow it doesn