Income and Expense Tracking Printables

I know first hand the importance and challenges of keeping good records when it comes to having a home based business. That’s why I’m happy to share with you this post from Lisa Woodruff who has a great resource for you, and she’s offering it at a 50% discount for my readers!

Expense Tracking Printables | With tax organization comes the urge to purge your files. Here are 3 ways I am organizing my tax documents and files this year.

How to systematize home based business income and expenses for 2016

Having run a home based business for over 20 years, you would think I have this tax time stuff down pat. Um no!

Last year, I disciplined myself to do my finances for my business all by myself DAILY! And this year tax time has been a breeze.

Each month, I would reconcile and do my tax prep on the 1st of the month. I actually started to look forward to it because I had created a checklist and form to fill out each month so I didn’t miss any expenses.

Each month, I knew how much I actually made. I was able to continually refine my process and reduce my expenses.

There are several statistics out there that state the percentage of home-based workers in 2020 will be 50%. And as a professional organizer, I know that paper organization is a hot button for most homeowners. So setting up paper systems that work are key.

This year, I had my graphic designer take my tax organization pages and turn them into adorable printables. Here is how I am organizing my income and expenses each month this year.

Organize 365 Income Tracker | With tax organization comes the urge to purge your files. Here are 3 ways I am organizing my tax documents and files this year.

1. Income

It is amazing how easily my mind inflates the income coming in and easily forgets the planned and unplanned expenses. Having a sheet to keep track of my income helps me make better decisions before I commit to more expenses.

I love watching the transactions increase as my business grows. These sheets are also helpful in seeing seasonal trends in my business.

Organize 365 Monthly Expense Tracker | With tax organization comes the urge to purge your files. Here are 3 ways I am organizing my tax documents and files this year.

2. Expenses

Tracking my expenses month after month has helped me reduce redundant expenses and better use the services I am paying for. One of my biggest frustrations at tax time was not having my expenses organized to match the IRS Schedule C categories. This form tracks my expenses so I can transfer the numbers directly to my taxes next January!

Organize 365 Mileage Log | With tax organization comes the urge to purge your files. Here are 3 ways I am organizing my tax documents and files this year.

3. Mileage

Did you know business mileage is deductible at $.56 per mile?! So next time you “just run to the post office,” toss a quarter out the window every half mile. Crazy huh? I know. Once someone told me that, I started seriously tracking my mileage.

FYI, your calendar is a great documentation source for mileage tax deductions. I have my assistant take weekly screenshots of my Google Calendar for tax purposes.

Organize 365 Profit & Loss Statement | With tax organization comes the urge to purge your files. Here are 3 ways I am organizing my tax documents and files this year.

4. Profit and Loss

I am ashamed to admit that last year was the first year in 20 years of business that I actually knew how profitable my business was every single month. Prior to this, it was a big surprise every February to see if I earned or lost money the previous year.

Keeping track of this number monthly had me making some BIG changes last year and ending the year with huge growth.

I have been following Toni’s blogging business advice for the last 3 years. As a thank you, I am offering YOU her readers a special price on my new income and expense tracking printables. I know Toni is a savvy business woman who wants you to be profitable, and these printables will help you know your business numbers and increase your profits. The regular price is $9, but The Happy Housewife readers price is only $4.50 through the end of February!

Here is your special link for The Happy Housewife 50% discount: Income & Expense Tracking printables.

This discount is good through February 29, 2016.

Lisa-Woodruff

Lisa Woodruff is a professional organizer, blogger and podcaster from Cincinnati, Ohio. Her favorite things to organize are paper and photos. For practical daily organization advice visit. www.organize365.com.

  

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28 Days to Hope for Your Home – Last Chance

I have been telling my readers about the eBook 28 Days to Hope for Your Home for a long time. And many of you have purchased it. But for those of you who haven’t, this is your last chance! The eBook will no longer be available after February.

If you're overwhelmed by the mess in your home and think there's no hope...this eBook is for you.

If you’re overwhelmed by the mess in your home and think there’s no hope…this eBook is for you. It’s for people who dream of an orderly home, but truly don’t understand what happens in the three days between Party Ready and Disaster Status.

With help from this eBook you will:

  • Develop four habits over four weeks.
  • Discover hope for real change in your home.

Click here for more details and to buy the eBook.

  

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This post may contain a link to an affiliate. See my disclosure policy for more information.

Kids’ Clothing Storage

Summer is here and the winter clothes are packed away. Swapping out the summer and winter clothes is a dreaded chore around my house, or at least it was until I found a better system of organizing winter and summer clothing.

1. Use Plastic Totes

For years I used cardboard boxes, but I like that most of my totes are clear so I can see what is inside them. I also think the plastic totes hold up better over time and sometimes clothes would smell funny after sitting in cardboard boxes for years. Totes are also waterproof, so if you end up with a leaky basement or a flooded storage area, your clothes are protected.

2. Three Pile Sorting Method

My piles are giveaway, throw away, and save. Clothing that my kids will not wear, or doesn’t fit (and I’m not saving it for another child) is given away. Torn, stained, or clothing with old elastic or broken zippers is thrown away. Clothes that can be worn next year are saved.

3. Kids Remain Close to Try On Clothes

Before the “new” clothes are put into the closets my children try them on to make sure they fit, and to make sure they like them. Sometimes items are too big, or are made from a fabric they don’t like to wear. These items don’t go into the closet.

4. Store by Season not Size

Clothing sizes vary from brand to brand. A Target size 6 is very different than a Gap Kids size 6. I found that organizing the clothes by season, for example Winter 2011, ensures that when I pull out clothes next year they are the correct sizes. If I know that a dress labeled 3T really fits a two-year old it would go into the Summer 2011 box for Cora.

5. It’s Alright to be Picky

We receive lots of hand-me-downs. For many years I felt guilty if I didn’t use them. That guilt disappeared recently when I realized I had 27 totes of clothes in my basement. 27. It was time to downsize. While I still love to receive hand-me-downs, I learned that it is okay to tell someone you don’t need clothing right now. This simplifies your life and another family will be blessed by receiving the clothes. Also, remember to ask someone before showing up on their doorstep with 3 Hefty bags full of clothing. They might not need them.

6. You Don’t Need to Save Everything

My youngest boy is 8 years old. There is no reason to save his clothes for another child in our family. Clothing breaks down over time and goes out of style. Pass items along that you won’t use in the next few years.

7. When You Are Finished Leave the Totes Out

I keep the totes stacked in my room for about a week because we are always finding stray items under beds or in the laundry. In some of my houses the storage was very difficult to access, so once I put away the totes it took a while to get them back out. Leaving them out for a few days helps to make sure everything gets stored for the next year.

This year my clothes storage and organization went much smoother and I was able to get rid of 200 items of clothing.

Last month I got rid of 116 items in the  730/365 Challenge. At the end of April my total was 148 items for the year. I ended up over doubling my total in one month!

May total: 200

Total for the year 348! Only 266 items to go.

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Clean Home, Fresh Start

The month of April is over and along with it the Clean Home, Fresh Start challenge. How did you do last month? Were you able to tackle some problem areas in your home?

old cds

I made some great progress in the office, basement, and kitchen. There is still a lot of work to do in my childrens’ rooms and the garage, but significant progress was made in many areas of my home.

expired food

I found that making the decision to declutter was often harder than the actual declutter.

This month I got rid of:

  • 5 Jumbo Stamp Pads that leaked so badly the ruined almost everything they touched. I held on to these for years, and then I realized it was less than $2 a pad to replace them.
  • 9 Bottles of Paint. I have moved these paint bottles six or seven times. Some of them were dried up and when I was going through them I realized they were not washable. I threw them all away.
  • 80 old computer discs. This was my most rewarding clean out of the month. My office is so clean and organized now! I love being able to find things I need.
  • 1 broken stapler.
  • Countless number of old glue sticks, broken pencils and pens, and papers in the office.
  • 2 decks of playing cards that were missing cards.
  • 2 broken rubber maid bins.
  • 1 game.
  • 4 pieces of clothing.
  • 12 jars/ bottles of expired condiments.

Last month I challenged myself to double my total for the 730/365 Challenge. At the end of March my total was 148 items for the year.

April total: 116

Total for the year 264! Only 466 items to go.

I didn’t quite double my total but I am making great progress. May will be another clean out month as we do the great winter/ summer clothes swap.

How did your spring cleaning go in April?

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