3 tips for keeping proper Tax records for your Home Business:

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The last thing most people think about when starting a business is doing taxes. But proper planning will make doing your taxes much easier – and keep the IRS happy!

Here are 3 simple tips for keeping proper records:

1. Whenever you buy anything for your business, keep the receipt!

Not only will this make record keeping a lot simpler, but if you are ever audited (having your tax return reviewed in detail by the IRS), you can prove your expenses, and save yourself money.

2. Write down all your expenses and income as they happen.

As your business grows, you’ll have more and more activities to keep you busy. The last thing you’ll want to do each April 15 is to organize your records for the year. So, it’s a good idea to write down all your financial activities as they happen. You’ll find preparing your taxes will take much less time if you are organized.

3. Learn how to save money on your taxes.

As you learn about taxes, you’ll find that there are many deductions (expenses that reduce your income, and therefore your taxes) you can take that are not obvious. When using your home office, you may be able to deduct (at least partially) repairs you make around the house, utilities, your home’s value at the time you start your business, and more.

The more you know about taxes, and the more organized you are in keeping records, the more time and money you’ll save at the end of every year!

What happens if you don’t keep proper records?

Individuals with small businesses are the most likely to have their tax returns audited by the IRS. If you don’t have a receipt, you will likely lose the deduction and owe the IRS money.

And while an audit does not have to be feared, you should be prepared – the more organized your records, the easier it will be to prove your case.

If you don’t have one, get a file box and some folders at your local office supply store (these supplies are deductible, so keep your receipts!) and create a filing system for your business. Put all your receipts in the proper folders, and put them in a safe place.

Another way to save yourself time is to record all of your business transactions – expenses and income – on a spreadsheet on your computer. Keep a column for income, advertising, supplies, etc. You don’t need to be a computer expert. But keeping accurate, organized records will help you save time when you fill out your taxes at the end of the year.

And it can help you plan, by giving you a snapshot or your financial progress whenever you need it.

Which may come in handy when you need to place ads, borrow money – or take a much needed and well-deserved vacation!

3 Tips to Buying the right Radar Detector

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There are many radar detectors on the market right now. Each one of them claims to have a single best feature. Some detect from the longest distance, while others claim to detect the most radar bands. Others claim to have the highest degree of accuracy and can tell the distance and direction of the radar gun.

3 Ultimate Japanes Automakers

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Japan has been producing automobiles for almost as long as America, to the surprise of some. As the American automobile industry has changed, so has Japan’s. To this day, however, Japan still has the highest concentration of automakers of any country on earth: nine to be exact. Three, however, are real standouts producing not only high quality vehicles but reaching well beyond Japan to all corners of the planet. Let’s take a look at the top three and how they are impacting the North American market.

√ Toyota – As the largest of all Japanese automakers, Toyota ranks only second to General Motors in global production. Toyota vehicles were first introduced to the North American market in the 1960s and were, at the time, widely panned by critics as being too small and inferior in quality. By the late 1970s, Toyota quality levels began to exceed the industry standard. Today, some consider Toyota the benchmark by which all car lines are judged; the company’s Lexus line of luxury vehicles and Scion brand of youth oriented vehicles arealso leaders in their respective classes.

√ Honda – The only thing Honda lacks versus Toyota is size. Still, when you compare Honda vehicles with comparable Toyota models, Honda holds its own. The first Honda, a Civic, was introduced to the North American market in 1971 and was soon followed by the Accord as well as the Prelude. Routinely, the Accord battles Toyota’s Camry for the top spot in U.S. car sales year in and year out, while the Honda Odyssey battles the Toyota Sienna for the highest quality minivan [Chrysler’s minivans still are the best sellers]. Acura is Honda’s luxury car division which has also competed successfully with Toyota’s Lexus line up.

√ Nissan – Toyota and Honda are the only two fully independent Japanese automakers left in the world today as Nissan has since ceded control to Renault, France’s largest automaker. The first Nissans to hit the North American market did so in the 1960s under the Datsun model name. By the early 1980s the Datsun name was jettisoned in favor of Nissan and today the Nissan name is equated with some of the highest quality cars on the road. In the late 1980s Nissan launched the Infiniti division, a maker of luxurious cars that routinely battles with the likes of BMW, Lexus, Acura, Cadillac, and Mercedes as a top provider of opulent vehicles.

So, there you have it. Three top Japanese brands that have made a name for themselves. You may not own a Toyota, a Honda, or a Nissan, but you have to give credit where credit is due: all three automakers are proven leaders in a highly competitive and every changing industry.