I have been told or given the advice on BILL Soroka‘s Facebook group called Sign and Thrive about getting an accountant. There were many questions on there about things that an accountant could help with so I finally bit the bullet even though I’m getting very few Signings now and went to see an accountant.
I had made double the amount I made the year before and I was concerned about the IRS and the new year.
It turns out I really didn’t have to worry about that since I’m very low on SIGNINGS NOW however my accountant gave me great advice. things that are simple like set up another account if you’re worried about your taxes and just put your tax amount into that account. ( I had no spare accounts in all the accounts I have believe it or not they were all designated for other things .)he suggested MileIQ for mileage. I had seen that before and him telling me it seems to work for a lot of his customers was helpful. it would definitely be worth the deduction since it’s only 5.99 a month. I manually enter all of my mileage Normally in my godAddy ap. he also told me to read my tax returns to make sure they had deducted everything that they could. he told me that the amount I paid the IRS which was 1200 was not bad and sounded reasonable because of what he had seen on other tax returns. he told me to figure on deducting about 30% or less of my income since I’m paying into Social Security and Medicare. He told me other things too… He told me I didn’t need an llc too and why. I booked an appointment with him a year in advance. I know this sounds simple to the rest of you but just hearing someone that knows explain it to me and only charging me $50 took a burden off my shoulders. ( He didn’t want to charge me anything!) Have a great day!
When your accountant advised setting up another account for taxes, did the he mean set up another bank account, or set up another account in your bookkeeping system?
I think just a regular old bank account because you see I have several accounts that are designated for certain things I didn’t want to confuse them. So I have no other option than to just set up an extra account
also I know that on the Go Daddy app, it has the option to take out taxes but they don’t literally take out the my taxes—I have to do that… Like an ESCROW ACCOUNT:rofl:
Geneva