Better Biz Better You

Cheating Yourself Out of Money


Do you have a system in place for saving relevant receipts for your business? If not, you need to get one. One of the biggest mistakes entrepreneurs make is avoiding saving receipts in an organized manner, which forces them to end up not deducting what could be deducted. This can cause you to overstate your business income, and consequently, you’ll end up paying more taxes.

The best thing to do is set up a system. When you have a procedure to handle receipts, you’re going to be more likely to stick to it. There are apps you can download for your smartphone that will enable you to take pictures of your receipts and save them in a legal and organized way, so that you can get the deductions you deserve.

Regardless of politics, leaving money on the table is not good business practice. Even if you’re not sure at the time of making the transaction and creating the receipt if it’s really deductible, save it anyway so that you can ask a professional or look it up when you do the data entry. 

Sign Up for E-News

Receipts can provide you with a trail of what you’ve done in your business, what you’ve purchased, why you purchased it, and even how much that purchase returned to you (known as Return on Investment, or ROI). Plus, you never know when you’ll need that receipt. It doesn’t matter if you digitize them or save them in a file folder; it’s important that you save them - especially if you plan to deduct them from your income for tax purposes.

There are many apps just for helping you record your receipts. You can use such an app, or you can use an envelope that you keep with you at all times just for receipts. It doesn’t matter, as long as you have a procedure in place and follow it religiously. 

Don’t miss the next email, where we’re going to focus on one of the biggest tax saving things you can do that most small business owners don’t do.


Are Ready To Get Results Now!  Book a “2018 Fast Track Strategy Call” with me.  Let’s See How I Can Get You Results and FAST!  TO SCHEDULE A COMPLIMENTARY 2018 FAST TRACK STRATEGY CALL GO TO Http:// 


Anna D. Banks, MAS, is a business coach, trainer, speaker and host of the Better Biz Better You Show (http// podcast. Anna works mainly with women professionals and business owners who desire a bigger business and self-development.  She facilitates workshops, seminars, training, and coaching to entrepreneurs, and owners of small and mid-sized business. In addition to her extensive training, business development and media experience, Anna is a John Maxwell Certified Coach and a Certified D.I.S.C. Behavioral Studies Trainer.

Like what you’ve read? Want more of the latest marketing and personal development best practices delivered straight to your inbox? Click here to subscribe to our monthly marketing and personal development newsletter and get a Special FREE Gift visit




The opinions expressed herein are the writer's alone, and do not reflect the opinions of or anyone who works for is not responsible for the accuracy of any of the information supplied by the writer.

TAP Into Another Town's News:

You May Also Be Interested In

Sign Up for E-News

East Orange/Orange

Health Alert: Child with Measles Traveled to Newark Airport on March 12

March 15, 2018

EAST ORANGE, NJ — If you were at Newark Liberty International Airport on Monday, March 12 between 12:45 and 9 p.m., you may have been exposed to measles and should contact your health care provider

The N.J. Department of Health has issued a public health alert after a child with a confirmed case of measles — a highly contagious disease — arrived in Terminal B at Newark ...

PSE&G to Upgrade Aging Gas Pipes in East Orange

March 15, 2018

EAST ORANGE, NJ – Public Service Electric & Gas Company (PSE&G) will be working in East Orange to replace a little over 2 miles of old gas pipes with new piping – ensuring a continued safe, clean and reliable gas system well into the future. Beginning in mid-March work will take place Monday through Friday between the hours of 7 a.m. and 5 p.m., and some Saturdays weather ...

Types of Content Buyers Need to Make a Buying Decision

The third stage of the buyer’s journey is decision-making time. This is when they make their choice and act on that choice to buy your product or service. 

Often this type of content will consist of case studies, product comparisons, product literature, vendor comparisons, trial subscriptions or downloads, and live demonstrations. You might include pros and cons, product reviews, ...

Types of Content Buyers Need to Choose Your Product or Service

At this stage, buyers are seeking a solution. They need help deciding how best to solve their problem. The content in this stage should focus on helping them decide what criteria they need to consider when buying. What options are available? Which features do they need in order to fix their problem?

You can pack a lot of information and value into this stage through sharing ebooks or guides, ...

Types of Information Buyers Need to Gain Awareness

There are various types of content that you can create for each stage of the buying journey. Today we’ll talk about the types of content buyers need to gain awareness. It’s important to know in advance the types of content you’ll need so that you can either create it yourself, buy it in private label rights form, or hire a writer. 

The content needed at this stage ...

Komen North Jersey Pink Tie Party Set For March 16

March 9, 2018

SUMMIT, NJ - The annual Susan G. Komen North Jersey Pink Tie Party fundraiser affair is coming up.

The event, which will be held Friday, March 16 at The Grove in Cedar Grove, is focused on raising funds to support Komen’s BOLD GOAL:  to reduce the number of breast cancer deaths in the U.S. by 50% by the year 2026, by improving access to quality and ...