This is the time of year we pull together all the financial information from the prior year so we can file our tax return.
We both individually file a Schedule C (Self-employment) with our tax return even though the businesses for both of us are called “Charlie and Jo”.
Charlie is a piano player and I am a singer/manager. Charlie determines how many gigs he’s done and how much money he made. I consolidate his reckonings with my own.
We both figure out the mileage for our cars that constitutes getting to and from music engagements.
I calculate investments and expenses both for our personal finances and our business finances. In addition to filling out the multiple page tax packet our accountant sends I also make a
cheat sheet summary version that’s easy for me to see how the money came and went.
Do you prepare your own taxes?