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> make your chart of accounts in Quickbooks be exactly equal to the tax return you are filing. This seems obvious in retrospect but is actually super helpful.
by kogir 10y ago
> make your chart of accounts in Quickbooks be exactly equal to the tax return you are filing.
This seems obvious in retrospect but is actually super helpful. Since I'm trying to do the minimal work required to do taxes, it makes sense I should work backward from there.
2016 was all pre-revenue, and hopefully in 2017 it'll be worth taking option (1) :)
- philiphodgen 10y agoThe "don't spend money before you have to" rule is in effect! Good work. Seriously, you don't need to be really good with this tax return. Say you wildly miscategorize expenses. The net profit is the same, so the tax is unchanged. And an auditor can swiftly go through 100 transactions to put them in the "right" buckets. Greetings from TUS.
- deleted 10y ago[deleted]