Suddenly, I Was a Business Owner

I used to work a job for a paycheck. They took out all the taxes. I was young and did not have any fancy deductions or any business expenses. Then, I started working for myself. I started a business, and I did not even know it. I took on a couple of jobs on my own on the side. I remember getting my first 1099-misc. Then, all of a sudden, I am buying tax software to be able to figure out how to do a Schedule C and the long form 1040 for my taxes. I had deductions. I was the boss. I felt like I was in over my head.

I was able to do the work that people wanted in such a satisfying way to them that they told their friends, colleagues and neighbors that I did a great job. Then I got more business. Then more and more. I had to hire other people and train them to do what I did in the way I did it. I could do the work without any problems. I enjoyed it. However, I did not like the paperwork side of a business. I really appreciated powerful tax software to keep my records straight for the feds and the state taxing authorities. Oh, and where I am at, I have local and county taxing authorities too. Everyone wants a hand in your pocket when you own a business.

There is so much in keeping records that it can be daunting just to get the books done if you do not have great accounting software and tax software. I like to spend more time actually doing the work that got me into business in the first place. I do not want to waste a lot of time keeping the books or training new people all the time. However, it is the nature of business, especially if your business is growing.


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