18d (edited) • General discussion
Tax Ready Checklist
✅ Collect income records: invoices, Stripe/PayPal reports, bank deposits.
✅ Track expenses weekly: categorize receipts into office, software, marketing, subcontractors, travel, etc.
✅ Classify workers correctly: W‑2 vs 1099 — issue 1099s by Jan 31.
✅ Estimate and pay quarterly taxes if you expect to owe more than $1,000 — mark Jan 15, Apr 15, June 15, Sept 15 on your calendar.
✅ Reconcile books monthly so your profit number is accurate for Schedule C or K‑1.
✅ Save a tax buffer: set aside 20–30% of profit until you know your effective tax rate.
✅ Use a consistent method for filing: bank statements, credit card statements, invoices, expense reports, receipts, payroll reports and forms, estimated tax payments, accountant contacts.
✅ If unsure, consult a pro before major decisions (entity changes, large deductions, or retirement contributions).
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Tax Ready Checklist
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