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Doing taxes


#1

Hello everyone - I have been going through the archives trying to
find out if there is a good, easy to understand book or articles on
tax tips for jewelry designers. This is the first year of my
business - I’ve kept good records, but I need some help in
understanding inventories, capitalization, depreciation, etc. as
they pertain to jewelry designers. The IRS publications are more
confusing than helpful. Can anyone out there refer me to a good
source? Thanks for your help. Cathy Heinz


#2

The Chicago Artists Coalition (www.cac.org I think) sells some
publications that are relevant and helpful on taxes.

Elaine Luther
Chicago area, Illinois, USA
Certified PMC Instructor
@E_Luther


#3

Cathy, the best advise on your business is a CPA. They will be able
to defend the advise they give. After you have a few years of
experience under your belt, you might want to have a go of it
yourself, but until you have these years experience, you really need
a CPA. They cost more, but in the long run, they will save you
money. Pay for the extra time to get them to go over your business
and help you set the books up correctly the first time. It’s hell
having to go back are re-do the books, especially if the IRS, or
state tax people want it done.

Don