To simplify some of the bookkeeping, have a separate checking account and credit card for the business. It helps when it comes time to remember what is personal and what is business.
The income goes into the business account, the parts, tools, inventory, postage all are paid via the business credit card.
I use Quicken to download all the financials from both the personal account and the business account. If you categorize the expenses, Quicken will do a great report at the end of the year.
It will also import into TurboTax. Though I use TurboTax, I don't use the import function.
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Today's Featured Article - Show Coverage: Central Illinois Strawberry Festival - by Cindy Ladage and Janna Seiz. Every year the coming of summer is highlighted by different events for different people. For some, it is heralded with the end of school, tilling the garden, or completion of the planting season. To us, connoisseurs of find food, antique tractors, farm toys, crafts, and downright fun, the annual Strawberry Festival means summer is here. Every year, in Carlinville, Illinois, the Macoupin County Historical Society and the Macoupin Agricultural Antique Association team up to fill th
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