As a follow up to my post yesterday on "Getting Organized for Tax Time", here's a few tips for those of you that prefer to be more "free spirited".
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- Don't use any type of bookkeeping system for your massage business.
- Randomly scatter any business related receipts throughout your office, home, purse, and car. Then host an annual "receipt hunt" and invite friends & family to join in.
- Make business purchases with several different credit cards, debit cards, sometimes with cash, other times checks - including personal checks. And don't keep track of any of it.
- Wait until the end of the year to tally up income from massage sessions. Or better yet, wait until April 14th. Or even better? Just guestimate your income.
- Don't keep copies of tax returns from previous years.
- Don't consult with a professional. Decide to do this all yourself - even though you're a massage therapist, NOT an accountant.
- Prioritize. Facebooking always trumps bookkeeping. always.
- Don't make quarterly payments. It's much more exciting to find out that you owe thousands all at once. And if you don't pay? The IRS will threaten to seize your assets. THIS is how you bring more adventure into your life!
Cindy Iwlew is co-founder of Bodywork Buddy Massage Software, a complete online management solution for independent massage therapists that includes online scheduling. She continues to operate her own private massage practice of 13 years, and has been an associate instructor for Ashiatsu Oriental Bar Therapy since 2007. www.BodyworkBuddy.com