I'm Back!

Oh my goodness....

It took about three weeks and I consumed countless bottles of wine and cups of coffee (and maybe a bag or two of vegan chocolate chips) but I am finally done with my business taxes!!

My sweet, dear, patient, loving husband stayed up with me until 2am Monday morning to finish them with me. The whole time we had a mantra that we kept repeating - 'It is not the end of the world.' 

When you are a small business owner, it is hard to know what your tax burden is going to be. There is no monthly withdrawal from an employer based upon your salary. I have to do it myself, and my income isn't steady. Some months are awesome, some are slower, and you always have to make sure you set aside money for taxes. 

This was our fourth time doing taxes since I started my business and I am still learning the accounting/tax side of it. My brain is not set up to understand excel spreadsheets well and my husband is a excel spreadsheet GOD so I just let him set up the formulas and I enter in all the information. Every year I figure out things to do differently and this year was the closest that we have ever come to the deadline thanks to some accounting hiccups I created.

The best thing about doing taxes and inventory though is seeing where your business stands. I grasp a better idea of what I own, what I have had sitting around for too long and how much I actually spend on supplies. 

Also, with counting over 2500 different items that I have on hand (yeah....I have a lot of beads), I always find things that I forgot about and get new ideas on ways to use what I have on hand.

So here's to making this upcoming tax season even better than last and as my husband shouted at 2am early Monday morning...

-via-

~With Love, Ashlee~

How to do Accounting for a Small Business Like a Rockstar

Ahhh...the start of tax season is upon us. Currently I am in the middle of counting thousands of little beads and my husband is in the other room quietly cussing to himself while entering information into a few dozen excel spreadsheets.

After three years of doing taxes and inventory for my business, I have worked out a few kinks but overall I am still a terrible book-keeper (my husband whole-heartedly agrees). I really need to make it big so I can hire someone to do all of this for me. Until then, here are some of my tricks of the trade and lessons on how to do your small business taxes like a rockstar.

1) Since you are going to be working on the computer all day, paint your nails a pretty color. They will look extra fabulous while you do all your number-crunching. Neon pink is the color au jour.

2) Drink plenty of liquids. Your full and slightly painful bladder will help keep you focused. Also, think of your frequent potty breaks as a reward and reprieve.

3) Convince your unemployed, law student of a husband that since you are the sole income earner, frequent foot rubs and back crackings are in order. It's hard work sitting in a chair all day organizing your ribbon.

4) If you decide to forgo showering because you hate accounting and don't care about anything else but finishing, be sure to wear the biggest hat you have to hide your hideous mane.

5) Make sure there is a constant supply of dark chocolate and red wine in your household. You need nourishment.

5) Wear your game face at all times. This is how I look while I count beads all day....

So there you have it. That is all you need to know to do your small business taxes. You are most welcome.