Antiques,stress free tax season and old school accounting

I have this sort of client who is an antique dealer.   I say sort of client because he works part time at an actual client of mine and the other part of the time he does the antique thing.   This time last year I fiound out that he does no bookkeeping what so ever for this business.  Then he told me that whenever it’s tax time, it is a traumatic event trying to figure out what happened over the course of the last year.

I suggested to him at least to use an excel spreadsheet.  He didn’t have excel and couldn’t afford to purchase the application.   I then suggested that he use the good old pen and paper to track his income and expenses.  I gave him a few how-to tips and off he went.    Over the course of this last year, I would see him and he told me that he was diligently keeping track.    I just saw him a few days ago and he thanked me for my help and told me that this tax season was a breeze, and, after reviewing his expenses figured out which products were more profitable to sell and which ones were a waste of his time.

The system doesn’t have to be elaborate to work, you just need to work on it at least once a week.

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Antiques,stress free tax season and old school accounting

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