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© 2003 Brigitte A. Thompson

You have just joined millions of other Americans who have started their own businesses. The toys have been purchased, you have taken the required classes, your yard has been fenced in and you are ready to welcome the first child into your daycare. Has anything been overlooked?

If you are like the majority of new business owners, recordkeeping is the last thing on your mind at this point. With all the excitement surrounding this new adventure, it is hard to think about seemingly trivial matters such as how income should be recorded and what expenses should be tracked. However, the bookkeeping is essential and can help reduce your taxes.

My goal is to help you navigate through the recordkeeping required as a small business owner. This column will include useful tips to help you interpret the complexities of our federal tax code and proven techniques to reduce your taxable income.

By understanding the recordkeeping required to operate your business, you will be well on your way to financial success!

Brigitte A. Thompson is the President of Datamaster Accounting & Publishing Services, LLC and author of several recordkeeping books for daycare providers. To find out more about her books please visit " target="_blank">

All information is based on the current federal tax laws of the United States. Since these laws are subject to change, neither the author nor assume liability for modifications that occur after the creation of this work. Every effort has been made to ensure this information is as accurate and complete as possible. These articles contain general information for businesses and are offered as an overview of the law.

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