Track The Tax PapersWritten by Janet L. Hall
Track The Tax Papers By: Janet L. HallFirst let me tell you that I do not use a financial software package for my business at this time. I tired some and found that it was more time consuming for me then to simply put my receipts in organized folders and total them at end of month or year. I also keep a very detailed check register and I don't find need to re-enter this information into my computer. Here's what I do and might work for you. I have two hanging folders that I keep in my file drawer in my desk. In each of folders I have manila folders for each line (category) item from my tax form that I use in my business; such as Office Supplies, Utilities, etc. As I get receipts for those line items, I simply drop receipt into corresponding manila folder. At end of month or year I simply add up receipts for those categories to get my totals to enter onto my tax form. This year it took me a total of three hours to total my receipts and off to taxman I went! For days that I'm rushing or too tired to file receipts, I have a small basket on my desk I can throw my receipts into and on my scheduled day of filing they get filed away.
| | Q: As a result of my divorce, I'm left with more debt than I can handle. Is there an alternative to bankruptcy?Written by Susan Oriely
One of often-unintended consequences of divorce is burdensome debt that was formerly handled by two, now to be handled by one. Creditors hold both spouses liable for debt incurred during marriage. Any agreement between spouses regarding who is responsible to pay debt need not be recognized by creditor.To avoid bankruptcy, one must become acquainted with bankruptcy law. You must determine you income/expenses and your assets/liabilities. If you have ability to fund settlements with creditors, you should avoid bankruptcy. Other than just paying you debts in full, one option to avoid bankruptcy is to compare debt consolidation with debt negotiation. Debt consolidation is a payment plan in favor of your creditors to pay debts in full over time with interest. Debt negotiation, however, provides for discounted cash settlements, which are customized to you ability to fund.
|