Recording the activity associated with your business demonstrates that you are a legitimate home business owner, and not someone merely engaged in a hobby.
Using Sound Business Principles
To begin building your business on a foundation of sound principles, think of business, in general, as being made up of three distinct aspects:
Providing a Product or Service,
Marketing that Product or Service, and
Managing the Business.
It is extremely rare to find someone who is good at all three aspects at the same time. A good product or service is a must; it needs to be at least as good as the competition…ideally, even better.
Marketing is generally considered the aspect that brings success from a positive cash flow perspective. However, a good product and effective marketing alone are not enough. Even successful businesses go broke because of poor business management.
That's where deductr's power comes in. We help to support the management of your business by helping you maintain proper financial and business activity records, and by helping you stay in compliance with the tax laws.
Consult your tax professional to see if this fits your circumstances. This is not to be taken as tax advice. Please refer to our End User License Agreement.