➡I accidentally bought Balut eggs: 2 live ducks! Now a Chat Thread!

[ShrekDawg]

If they take 20 theyre probly taking half to pay as an employer.



I keep a log of every single chicken and egg sale i make. I know they havent quite covered expenses yet much less made enough to make it reportable.

Maybe, idk, I never thought of that. It is an app/website.

That’s a good idea. I think I should start doing that. I have the dates I work in my calendar but I haven’t ever actually written down the amounts.

 

[R2elk]

Kdog this means you will owe 15.3% of what you make period.
Save 20%.
Trust me.

And that is just for Medicare and Social Security taxes. Income tax may be even more depending on your total income.

 

[R2elk]

Maybe, idk, I never thought of that. It is an app/website.

That’s a good idea. I think I should start doing that. I have the dates I work in my calendar but I haven’t ever actually written down the amounts.

It is critical to keep excellent records. Always get receipts. Bookkeeping can be tedious and frustrating. Good organizational skills are a must.

 

[Sara L]

Thanks, this is helpful.

I’m not sure how much I’ve made this year. I would have to go look at everything. But I think sometimes I also deposited some non dog money at the same time.

I should probably make a separate business account maybe.

I do know that this month I’ve made like $600 just from the dogs but last month I made probably only like $200. I’d have to look and see for the rest of the year. I know I’ve done a few sitting jobs for like $150 each usually, I have the exact dates and amounts written down somewhere I think.

I need to get more sitting jobs. I make the most money there.

I do know I have like almost $6K in the bank and most of it is from dogs. Some of it is from birthdays, holidays, and graduation, but a lot is dogs and I only made the account last September.

Buy a little receipt book, the kind that has the carbon copy. Each time you do a job, write the basic details like you are writing a receipt. If you are paid cash, write down the serial numbers of the bills, paid check write the check number. This way you can track what is earned money versus birthday/etc. And you will have a receipt if the person you did the job for wants one.

This is what I do for my small business, it works fairly well. And at the end of the year (or during), you can then take that info and put it into a spreadsheet to show all you earned. If you are buying stuff (leashes/supplies), keep those receipts aside for your taxes too, might be able to claim them as expenses to offset some of the income. Find a decent tax person, maybe one that's experienced in setting up a small business.

 

[Kiki]

I don't have a clue how this rover stuff works.... I haven't even looked into it but I sure as heck don't recommend it.

 

[Kiki]

Okay I just checked...
Rover is not an employer They will not pay your taxes You get a 1099 from them I repeat do not set up a Rover account.

 

[ShrekDawg]

And that is just for Medicare and Social Security taxes. Income tax may be even more depending on your total income.

I can’t believe they take so much

It is critical to keep excellent records. Always get receipts. Bookkeeping can be tedious and frustrating. Good organizational skills are a must.

Yeah, I definitely need to work on that.

I’ve never been very organized but I’m gonna start trying harder.

I always get receipts when I deposit stuff but sometimes I deposit multiple checks together so I’m not sure the exact amount for each job. Usually it’s all dog ones together though and not other money combined with it so that’s good at least but this most recent one I also deposited a bunch of cash. Although I’m pretty sure it says on the receipt what was cash and what was check.

I should probably start paying attention. I have it in my head what I make, I know what they pay me for each job so it’s easy to look at the calendar, but I should really write it down and not just keep it in my head. Plus sometimes the dates change or something and I forget to change it in the calendar or sometimes I get asked via text to do extra days and don’t add it but I just went through recently and fixed that problem. Had some last month I had forgotten to add and deleted the texts but thankfully I always post pictures on FB so I was able to go back through FB and figure out the exact days I worked and add them.

Buy a little receipt book, the kind that has the carbon copy. Each time you do a job, write the basic details like you are writing a receipt. If you are paid cash, write down the serial numbers of the bills, paid check write the check number. This way you can track what is earned money versus birthday/etc. And you will have a receipt if the person you did the job for wants one.

This is what I do for my small business, it works fairly well. And at the end of the year (or during), you can then take that info and put it into a spreadsheet to show all you earned. If you are buying stuff (leashes/supplies), keep those receipts aside for your taxes too, might be able to claim them as expenses to offset some of the income. Find a decent tax person, maybe one that's experienced in setting up a small business.

Thank you!! This is very helpful!!! I’m going to have to do all this stuff.

I actually have several folders in my email that I have been adding digital receipts too in case they are tax deductible because I’ve bought a lot of leashes, harnesses, toys, treats, training books and supplies, etc. etc. this year so I’ve kept those receipts.

I mostly buy stuff online through Amazon or direct through the manufacturer so I put all those receipts in one place.

I’ll start keeping paper receipts too but I really don’t buy much in person. At least not dog stuff.

But I have folders labeled receipts (just for all receipts in general so I can find them), receipts: taxes, and dogs, and usually I’ll cross reference them and put them in all 3 folders so it’s easy to find.

I’ll have to find a tax person.

Writing down the serial numbers of all the bills though seems like a lot of work/time/effort though, is it necessary? Do they really look into that? Couldn’t I just write down the amounts?

 

[Kiki]

Whoa what's this writing down dollar bills serial number business... That is nuts.

 

[Sara L]

I can’t believe they take so much



Yeah, I definitely need to work on that.

I’ve never been very organized but I’m gonna start trying harder.

I always get receipts when I deposit stuff but sometimes I deposit multiple checks together so I’m not sure the exact amount for each job. Usually it’s all dog ones together though and not other money combined with it so that’s good at least but this most recent one I also deposited a bunch of cash. Although I’m pretty sure it says on the receipt what was cash and what was check.

I should probably start paying attention. I have it in my head what I make, I know what they pay me for each job so it’s easy to look at the calendar, but I should really write it down and not just keep it in my head. Plus sometimes the dates change or something and I forget to change it in the calendar or sometimes I get asked via text to do extra days and don’t add it but I just went through recently and fixed that problem. Had some last month I had forgotten to add and deleted the texts but thankfully I always post pictures on FB so I was able to go back through FB and figure out the exact days I worked and add them.



Thank you!! This is very helpful!!! I’m going to have to do all this stuff.

I actually have several folders in my email that I have been adding digital receipts too in case they are tax deductible because I’ve bought a lot of leashes, harnesses, toys, treats, training books and supplies, etc. etc. this year so I’ve kept those receipts.

I mostly buy stuff online through Amazon or direct through the manufacturer so I put all those receipts in one place.

I’ll start keeping paper receipts too but I really don’t buy much in person. At least not dog stuff.

But I have folders labeled receipts (just for all receipts in general so I can find them), receipts: taxes, and dogs, and usually I’ll cross reference them and put them in all 3 folders so it’s easy to find.

I’ll have to find a tax person.

Writing down the serial numbers of all the bills though seems like a lot of work/time/effort though, is it necessary? Do they really look into that? Couldn’t I just write down the amounts?

Whoa what's this writing down dollar bills serial number business... That is nuts.

Writing down the serial numbers might be overkill, but the banker I talked to about setting up a business account seemed uncomfortable that I'm pretty much an all cash business. I don't know what else to do. So I'm writing down the numbers on the receipt. If you have a better idea please share.

 

[ShrekDawg]

Okay I just checked...
Rover is not an employer They will not pay your taxes You get a 1099 from them I repeat do not set up a Rover account.

Yeah, I think I remember reading on their site they don’t pay it. Seems like kind of a scam then haha they probably take it to pay for running the app and pay their employees though, I guess they have to make money somehow, but it used to only be like 10 or 15 percent. They’ve gotten a bit greedy I think.

The good thing about Rover though is that like everybody seems to use the app now so it would be easy to find clients and almost seems necessary to compete since most other people do it.

Also clients can book directly through the app/website and you can also mark yourself unavailable if you’re busy certain days all of which is really nice and I really like and almost think it is well worth it especially with as much as I hate phones.

They also have their own insurance which is nice because I wouldn’t have to buy my own or worry about it .

But between their cut and the percentage taken for taxes, I am going to be losing quite a lot of money if I do that so I really would probably be better off just getting my own insurance. I don’t know. I need to think about it. It’s a lot to think about. Rover does have a lot of benefits and good features but it also has some very big negatives.

Maybe I could even just use Rover temporarily to gain some more clients and then branch off on my own later??