Independent consultants have the least time and resources to keep track of the mundane parts of their enterprise. Here, I refer to the process of keeping tabs on income and expenses in a way that makes tax filing easier each year. Several years ago, I developed an Excel sheet that matches the federal Schedule C categories which I’m sharing with my readers. Simply plug the expenses (and, hopefully, income) you have in the corresponding day and month (keeping receipts…I keep a folder for each month) and it self-calculates a monthly and yearly summary for you. Copy and paste this location in your browser:
www.voorheesgroup.org/Tax%20Log%202010%20for%20Distribution.xls
I’m not a tax expert nor am I offering financial advice. Rather, I’m providing this as a contribution to readers who would like to cut through the process of keeping things straight. If you think it would help you, email me [rick at voorheesgroup.org] and I’ll send you the password straightaway. Be well and happy consulting!
Rick Voorhees warming up in Glenwood Springs, Colorado, USA

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