First off get a good accountant not the generic mainstream as h&r block. Avoid them at all cost or it will cost been there done that(twice was enough). Once you do then you state an estimate of your quarterly/yearly gross. Not that big of a deal it will all come out in the wash in coordination with your general liability and the same with employees workman's comp and unemployment down the road. Best thing ya can do is be up front to the "irs" as always let the accountant do the walking it'll be his/her a$$ just as it will be yours. Make sure he/she signs(ha) all docs. Next importantly get several manila envelopes put them your vehicle label them for food(coffee chips anything) gas maitenance (oil & antifreeze etc) bic lighters for work TP to wipe your arse anything and everything. Do the weekly thing then move them to a monthly envelope at home, records, records records. Your accountant will tell you in the end what you can use or can't. To save headaches(DO THIS) say when you goes to gas up at a convience store get all receipts seperately(request it and learn to seperate these). Very important to keep them in their respected categories. You'll be bug eyed trying to seperate them in the end(of year) and lose out on any state tax. As in you get gas(one receipt) oil(diff receipt) and coffee(food) samowich chips or that bic lighter constitutes under miscellaneous(which I've had to use even on hardline shrink boot a few times) and also install shrink. Also to your advantage to incorporate as a "S" check it out(against being sued and losing any or everything) or any self-employed you don't have to file taxes until Oct. 15th. The money you've made works for you another 6 months rather than for the irs/gov. at least ya feel your puttin' the screws to them somewhat. And lastly lastly tip that accountant a hundred or 2 in cash they'll surely remember you the next year.
This is CABL.com posting #185887. Tiny Link: cabl.co/mWwl
