It's That Time of Year Again

Hello All! Happy Saturday!
Time to file income taxes :-( My husband is retired and on Social Security and has a couple of pension payments coming in. I am working on my online business. Not much coming in yet but a whole lot getting invested. There are some returns that are not monetary. Being part of some great communities and learning new things all the time are two of them. Feeling like I can start helping others with what I know is another. The tax man can't take those things away.

One of the things I do that helps me keep track of deductions is to use my credit cards for business expenses only. Anything we do as far as grocery shopping or other buying for the household is on my husband's Visa card. We have joint bank accounts at the same bank so that he can transfer money to me easily and seamlessly to pay my business expenses. My little issue with Paypal prompted that necessity. We were using Paypal for him to transfer that money. When they shut me down for that short time I only had like 6 dollars in my account. But previous to that my husband was regularly sending a few hundred dollars at a time. Thankfully none of that got stuck in Paypal. While we were waiting for Paypal to unlock my account we tried to transfer money to my account through the bank website and discovered that we had to have an actual relationship established between the accounts for transferring money. His name was already on the account so that part was taken care of. The bank is only across the highway from our apartment so no big deal to get there. Got that done and now it is just a matter of logging in and doing the transfer and it is instantaneously completed.

That was seriously tangential. Sorry. Started sorting the expenses yesterday! May have to break them down a little further. I am a sole proprietor for my filing status. Does anybody here in the US who is doing online marketing have a different tax status? Like an LLC or S Corp? It doesn't seem like I should need any of that yet. Not sure what the advantage would be. I have an EIN number from a long time ago. And I have a resellers license for selling on Ebay or Amazon which never really got off the ground. Anyway, if anyone does anything different I would love to know for next year's tax time.

Have a great Saturday everyone! See you here tomorrow.