003: Tax Prep for Entrepreneurs

We're quickly approaching that time of the year, when taxes begin to really stress us out. As an entrepreneur, tax time can be even more overwhelming if you're not doing to work on the front end to prep for tax time.In this episode of Clocking In, I'm sharing the things that I do in my own business to ensure I have a smooth (and rewarding) experience at tax time.From handling my own bookkeeping and working with a CPA to researching potential deductions and paying quarterly taxes, I'm covering it all in this quick episode!Please note, I am not a tax professional, therefore, the content I'm sharing in this episode is just my own experience. Please consult with a local CPA to ensure you're managing your finances and taxes appropriately for your business.Clocking In with Haylee Gaffin is produced and brought to you by Gaffin Creative, a podcast production company for creative entrepreneurs. Learn more about our services at Gaffincreative.com, plus you’ll also find resources, show notes, and more for the Clocking In Podcast.Hire a CPA (Certified Public Accountant) (1:16)Working with an Accountant (1:47)Use Separate Bank Accounts (2:39)Pay yourself + Pay Yourself a Consistent Paycheck  (3:07)a) Consistencyb) Knowing How Much You've Made at any timec) Simplified BookkeepingUse Quickbooks for Bookkeeping (4:15)Research and Understand Tax Deductions (5:01)Pay Your Quarterly Taxes (5:32)Consult with a CPA (7:30)Links:gaffincreative.comReview the transcript at gaffincreative.com/003. Hosted on Acast. See acast.com/privacy for more information.