How To Avoid Getting Burned By Your Own Tax Return

Written by Wayne M. Davies


I did it. I finally did it.

Last weekend, whilerepparttar rest of Fort Wayne celebratedrepparttar 112679 long-awaited onset of springtime temperatures, I stayed inside and did something I've never done before.

I burned my first CD.

Yep, I joinedrepparttar 112680 Pepsi generation and got me a real CD-RW drive. And I actually copied a music CD onto a blank CD (my wife's favorite Eric Clapton CD -- so now she's got one for home and one forrepparttar 112681 van; guess I better burn another one so she can listen to it at work, too.)

But it wasn't easy, let me tell ya!

If fact, I didn't think it would ever happen.

Why? Because when it comes to computers, I ain'trepparttar 112682 most proficient guy inrepparttar 112683 world. I know how to use my accounting and tax software, and I can peck away at a word processor withrepparttar 112684 best of them, but hardware? I'm clueless, man, absolutely clueless.

To me, RAM is an animal,repparttar 112685 mascot for a pro football team that used to play in L.A. and then moved to St. Louis.

But my wife and kids have been pestering me for months to get a CD-RW so we can make our own music CD's. So last week I finally gave in and ventured out to my local discount electronics store.

And there they were, lined up onrepparttar 112686 shelf, all 28 different models.

I picked up one ofrepparttar 112687 boxes and looked atrepparttar 112688 "specs". The first label that caught my eye was called "Disc Formats": CD-R, CD-RW, CD-ROM (mode 1 and mode 2), CD-ROM XA (mode2, form 1 and form2), CD-DA, Bootable CD, Photo CD (single and multi-sessions), Video CD, CD-Extra, Mixed mode CD, CD-text.

I suddenly feltrepparttar 112689 beginnings of a headache.

I know enough about hardware to know that you've got to make sure a new piece of hardware is compatible with your existing hardware.

Ah, yes,repparttar 112690 "interface", gotta make sure that's right!

So I looked atrepparttar 112691 box where is said "E-IDE/ATAPI".

Now my stomach didn't feel so good either.

Finally, I turnedrepparttar 112692 box over and found what I was looking for, "System Requirements": IBM PC Pentium 200MHz or higher; 64MB DRAM, 1 GB for image recording, 150MB free HD space for installing writing software.

I no longer had a headache. I had a migraine.

Enough was enough. I leftrepparttar 112693 store and came home empty- handed. I was in over my head, and it was time to admit it.

How to Audit-Proof Your Business

Written by Collin Almeida


How to Audit-Proof Your Business

By Collin Almeida

Police and auditors have one thing in common: they make evenrepparttar most honest, law-abiding citizens nervous. After all, who hasn't felt their heart jump atrepparttar 112678 sound of a police siren close behind them even if they are obeying all traffic rules? Generally,repparttar 112679 same feeling comes over people whenrepparttar 112680 topic of an IRS audit arises.

Most taxpayers fear an audit because they don't know if they are adequately prepared. You may ask yourself: Did I saverepparttar 112681 right documentation? Are all my deductions legal? Can I answer all ofrepparttar 112682 IRS's questions? Forrepparttar 112683 home-based business owner, however, these questions are even more pressing, so waiting for an audit to test their preparation is notrepparttar 112684 best option. By following some easy guidelines, they can takerepparttar 112685 guesswork out of keeping records.

Obviously, every deduction claimed needs to be documented, but many taxpayers aren't clear on what is adequate proof. The IRS does require more than just a few jottings in a notebook, but not much more. First, each deduction must be recorded with a copy of an invoice or bill. For example, if you are claiming your utilities expenses as a deduction, you need to keep a copy of each month's bill. In addition to provingrepparttar 112686 expenses were incurred, you must also prove they were paid. So along with that utilities bill, you may want to staplerepparttar 112687 canceled check or credit card statement that coveredrepparttar 112688 charges. Receipts, bank statements, and even invoices stamped "paid" also count as evidence thatrepparttar 112689 expenses were have been taken care of.

Along with documenting business expenses, all deposits must also be adequately documented to prove that you are reporting your profit correctly. Ifrepparttar 112690 funds are from payment for a service or product rendered by your company, you should attach a copy ofrepparttar 112691 payment torepparttar 112692 invoice it covers. Not only will this serve as documentation forrepparttar 112693 IRS, it will also help you keep track of paid and outstanding invoices from customers. Loans and other sources of company income must also be accompanied by all related paperwork.

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