Quote:
Originally Posted by OverdueNudes
After a lot of research my main question is how do I prove my expenses?
I'm certain I have to file a Schedule C(sole proprietorship), but I don't really have receipts for things like Traffic, Advertising, Hosting, Design Work. How does everyone else file these?
Also, does anyone know what to call the "principal business or profession"? I just run a TGP is all. I'm having trouble finding the activity code.
|
I use quickbooks and balance to my business checking account. Of course I'm incorporated and also an accountant by trade (Before PK).
I'm sure you haven't paid for your business expenses with cash. I'd say go through your bank statements for Jan 1 to Dec 31, 2008 and look for any charges you know were for business expenses. Only place you might have a problem is if you had personal purchases on the same charge as business (say for example of you went to BestBuy and bought a mouse or something along with some DVDs or video games).. then you'd do best to have a receipt for it.
Starting now, keep track of it all.. even if it's just in a notepad somewhere. It will make next tax season alot easier.
As far as the business code, my CPA uses 541800 for mine which is a basic advertising code. I suppose 516110 could also be used which is for Internet Publishing & Broadcasting.
PK