Accounting For Beginners
So, you have started this new and very exciting business opportunity. How do you keep track of it on paper? Like it or not, every April 15th, we have to account for our actions the year before to our friends (or foes depending upon your mindset) at the Internal Revenue Service, or the IRS. Even if you have already started your business, I am going to write this as though it were day one for you. For the purposes of this article, I am also assuming that you are starting a simple, sole proprietorship business. In order for the IRS to consider your business legitimate, you need to treat it like a business and not a hobby. ...
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