Comments on: Advice for New Entrepreneurs: So You Think You Can Sell Banana Peelers?

By: IRS Mileage Rates | Personal Finance Analyst

IRS Mileage Rates | Personal Finance Analyst — Wed, 06 Aug 2008 01:25:34 +0000

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By: Tanesha

Tanesha — Thu, 31 Jul 2008 03:41:09 +0000

Thanks for leaving a comment TK… outsourcing the accounting stuff is a really good suggestion.
The main reason why the bill was so high is because many of the deductions I had taken were disallowed for lack of validation. This increased my adjusted gross income and put me in a higher tax bracket.
I enjoyed my running the store, but I give up. Even with outsourcing the accounting part, I still would have to keep better records… which, for me, is too time consuming. I’d rather be blogging

Tanesha

By: TK

TK — Thu, 24 Jul 2008 20:54:42 +0000

Thanks for the info, but what really killed the biz gig: realizing $5.3k meant you were really running a loss, or not wanting to keep books at all? If it was fun and making a profit anyway, I would think it would be worth taking a class or vending out that task.