In the U.S., July 4 is the celebration of our nation’s birthday. We often spend the weekend with parties or picnics or family reunions or weddings. The weekend often ends with tired, but happy, people. When you look at a calendar though, July 1 is sort of like “hump day” for the year. The year is now half over (or half begun) and it’s a time to take stock, assess what is or is not working, and plan for the rest of the year.
This might also be a good time to realize that it’s only 6 months until the end of the year and I’m willing to bet that there are a few people that haven’t even begun to think about taxes yet. (WHAT??? You want me to think about taxes in JULY.)
YES, I actually want you to think about taxes in July. Actually, it’s something you should be thinking about every week, or at least every month, and you should be doing some record keeping so that when you do your taxes (or go to see your tax preparer) in 2015, you are somewhat prepared. I realize that sometimes it’s easy to procrastinate, and I want to encourage you to not fall too far behind.
I’m a big fan of various Google Apps (HELLO — FREE!!), so I’m going to point out a few ways that Google Apps can be used in keeping track of your expenses.
Google Calendar https://www.google.com/calendar
Besides allowing you to keep track of your schedule, share your schedule, and syncing with a number of other applications, Google Calendar keeps track of where you’ve been. If you use Google Calendar thoroughly and faithfully, at the end of a week (or month, or 6 months) you can go back through your calendar and check what you’ve done. You can look at each event and see if there’s anything you’ve done that needs to be documented.
Google Maps https://maps.google.com
After you’ve checked your Google Calendar, you’ll realize that you’ve had some travels (meetings or lunches you’ve attended) that you forgot to write down mileage for. This is where Google Maps comes in handy. Just enter your starting location and your destination and you know your mileage (double it for a round trip).
Google Docs https://docs.google.com
Specifically Google spreadsheets. You can use a Google spreadsheet to enter your costs (mileage, advertising, office expenses, deductible meals and entertainment, etc. etc. etc).
Anytime you’re using any type of spreadsheet (Excel, Google Drive, Numbers), I highly recommend beginning with the end in mind. If you’re looking to do your own bookkeeping so that you can either do your taxes or send them to a tax professional, figure out what you’ll need at the end of the year and input the proper categories. (For myself, and many solopreneurs, look at Schedule C).
Next week we’ll look at a few other Google Apps that can make your life easier.
- Five Cloud Apps To Manage Your Business Remotely (woman.com.au)
- 5 Reasons Why You Should be Using Google Apps for Business (mysocialagency.com)
*Disclaimer, I’m not a tax professional.