This is a topic encouraged by many, but it is rarely discussed at great length. I can understand why, few of us actually enjoy paperwork. Unfortunately, some of the least enjoyed items can be the most important as you progress towards you goals.
In this thread, I would like ask for this community's help in coming up with a list if important things that should be recorded and why its important. This will be all inclusive, any record or business related counts.
-Road miles. By keeping a log in your car of all your business related car trips, you have proof of an important tax deduction.
-Phone conversations - No, not the entire conversation. At the minimum you should be recording date, time, who you spoke with, company, their extension or badge number, and any pertinent details of the conversation. This can really be a headache saver down the road when you are getting two different answers from a company. When you tell the next person or supervisor that you talked to Bob at 11:37 on 6/7 about the price quote of x. It gives you credence to your claims.
-Personal Budget (at least monthly)- For many of us starting out, its gives you a starting point. It also allows us to clamp down on those money leaks on our finances.
It doesn't matter what business you're in folks. What have you been keeping track of to aid you down the road? Whether its home expenses or certain business deductions, let's hear them.
In this thread, I would like ask for this community's help in coming up with a list if important things that should be recorded and why its important. This will be all inclusive, any record or business related counts.
-Road miles. By keeping a log in your car of all your business related car trips, you have proof of an important tax deduction.
-Phone conversations - No, not the entire conversation. At the minimum you should be recording date, time, who you spoke with, company, their extension or badge number, and any pertinent details of the conversation. This can really be a headache saver down the road when you are getting two different answers from a company. When you tell the next person or supervisor that you talked to Bob at 11:37 on 6/7 about the price quote of x. It gives you credence to your claims.
-Personal Budget (at least monthly)- For many of us starting out, its gives you a starting point. It also allows us to clamp down on those money leaks on our finances.
It doesn't matter what business you're in folks. What have you been keeping track of to aid you down the road? Whether its home expenses or certain business deductions, let's hear them.
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