Bookkeeping And Tax Tips For Bloggers/Freelancers

This weeks episode of Digital Nomad Radio is all about bookkeeping and taxes. I agree, it’s the most boring part of having a business. Unfortunately, it’s something we all have to do at some point.

The reason I chose this topic this week is because I spent about 8 hours (at least it felt that long) last night printing and scanning receipts, entering invoices, and catching up on all the books. It took me a lot of researching before I had any idea what I was doing. I have a feeling some of you are in the same boat as I was and are clueless about what to do. (Just remember, I am not an accountant nor will I ever be one. So you might want to contact one for professional advice.)

Hope you enjoy the show!

http://justinjwright.com/blog/podcasts/podcast_005.mp3

Length:

14 Minutes and 35 Seconds

Teaser:

Some of the topics I will cover include:

  • Accounts Receivable - How to keep track of all your income.
  • Accounts Payable – What you should be keeping track of for business expenses.
  • Tax Deductions For Bloggers/Freelancers – I’ll share some of the tax deductions that you might be able to take if you are a blogger or freelancer.
  • Invoicing Software - I’ll share a really useful tool I use for invoicing.

That pretty much wraps it up for this weeks episode. If you didn’t make it to the end, I just wanted to let you know that I am currently looking for guest on the show. So if you are a blogger or freelancer, I’d love to interview you or feature you on the show. Please contact me for details!

Show Links:

Anyone have some other useful tips for bookkeeping/taxes? I’d love to hear them.

13 thoughts on “Bookkeeping And Tax Tips For Bloggers/Freelancers

  1. jTerrell

    I use an online system called Outright which is pretty cool and free. It tracks my expenses and and sales and nice reporting. It also integrates well with Freshbooks which I use to invoice my clients.

    Reply
    1. Justin Wright Post author

      Hmm I might have to check those out and see how they work. I am still looking for the best accounting software to use since I am not a big fan of Quickbooks. Thanks for the tips!

      Reply
      1. Crystal Shuller

        You should really give LessAccounting.com a try. It’s a great online account application for small biz owners and freelancers that is simple to use but has great features, especially for us non-accounting folk. :)

        Reply
  2. Adam Pieniazek

    Apparently Quickbooks for the Mac is really, really bad and 2-3 years behind the Windows version. In either case, I’ve yet to find an accounting package that suits me and I usually end up using spreadsheets and randomness to do my taxes. I’ve got a great picture from last year with my kitchen table covered in stacks of paper with empty cups of coffee in a huge pile of mess.

    Though this year I’ve done a better job of organizing and hopefully it’ll make everything at least slightly easier.

    Reply
    1. Justin Wright Post author

      I completely agree that the Quickbooks for Mac sucks. I have the 2007 version and have never been able to convince myself to use it.

      However, the website jTerrell mentioned is pretty sweet. I actually signed up for it and entered in all of my data from my spreadsheet. It’s basically a souped up spreadsheet where you can enter income, expenses, and monitor reports. Plus it’s free!

      Here is the link: http://outright.com/

      Reply
        1. Justin Wright Post author

          Very cool. I might have to check that one out too. I currently just enter in the information myself and scan the receipts to PDF files every month. Seems to work pretty well (at least so far…).

          Reply
          1. Crystal Shuller

            Showboxed is great, we are actually working on an integration where you can transfer your data from shoeboxed to LessAccounting. LA is $30 a month but you can get some great features from it that Outright doesn’t offer.

  3. Kai Lo

    I’m going to listen to this over the weekend. I’m one of those bloggers who don’t keep track of anything. Right now, it is very simple because I only spent $10 on a domain, but later on I know I’m going to forget where profits come from or how much I spent on expenses. Thanks for providing this information to the public.

    Reply
  4. Ria

    Really great information.. I have been using free services to maintain my accounts. And in that one of those is numia. It really helps for small business person.

    Reply
  5. Pingback: Self Employment Lessons

  6. Eleazar | Make Money Bank

    This is an eye opener for me. As a start up online entrepreneur, I should start to record my expenses and earnings to know how much I really earn online minus the expenses. And this also a way to prepare, in case Internal Revenue Officers knock on my business.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>