Software to keep track of your expenses, payments and taxes?

Anyone found a good (inexpensive) software (Mac compatible) to track your expenses, payments and taxes?

Do ya'll have EINs?

Do ya'll pay quarterly or just wait until April 15?

Should I be keeping track of mileage to shops or is that not tax deductible?

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Some shoppers use Microsoft Excel, and I believe there's a Mac compatible version, icXL. My method is a 3-ring binder; obviously manual, but it works for me. Flash is the Excel queen.

No EIN - we've been told it can raise eyebrows with the intent of separating you from your money, or at least making your life more *interesting*.

No, I don't file quarterly. Complete a Schedule C with your 1040. YES, keep track of mileage. The IRS allows .55/mile for 2009, very generous and helps to offset income. Other expenses are deductible as well, some may have to be pro-rated.

While searching here for discussions on tax ramifications and record-keeping, they may be hidden in an unrelated thread. We often digress

I believe there may be a free version of OpenOffice for the Mac which would include a spreadsheet. You can look at OpenOffice.org The stuff is shareware and certainly compatible with the standard xls and doc formats of Microsoft Office.

There is. It works fine. We have it installed in the lab I teach in.

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Like Mert I also use a binder and I dont file quarterly because I dont make enough money MSing. So I just file a schedule C at the end of the year.

It is the rare shopper who has a taxable income from shopping that will require quarterly returns based on shopping. Very few shoppers even net $400 or more such that they need to pay employment tax if they keep track of and use their business deductions correctly.

Keep in mind that reimbursements have no net taxable consequences--you can choose to claim them and then deduct them on Schedule C as a reimbursed business expense or, as many folks do, not claim them at all. As Mert pointed out, your mileage is deductible at .55 cents per mile in 2009, so that will offset a good deal of your income. Then there are the expenses you have such as office supplies and equipment. And when you do fee only shops but are required to make a purchase for the receipt to prove you were there, that purchase is deductible as an "unreimbursed business expense".

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Software to keep track of your expenses, payments and taxes?

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