When we are self employed, every year we have a headache of having to go through our invoices, ensure we are providing the correct numbers and making sure we have taken into consideration our costs for our businesses.
If you are both employed and self employed this could be even harder as you need to weigh up your tax differently.
When I was employed and self employed, I had to keep all of my payslips together to ensure I had the costs right for tax and national insurance.
I found it more stressful as generally all my invoicing is saved on a spreadsheet and I needed a way to keep it all on a computer, so an idea was to use a pay stub generator to keep my finances in order.
As I start to earn more or I have more outgoings related to my business. I start to get more stressed.
I have been online looking for an accountant that I can do it all internet based, rather than having a book keeper as I hate keeping paper documents. Anything paper is scanned and added to my tax folder all neatly wrapped up in one place.
My worry is my taxes not being done on time, so one consideration was having an accountant to do the hard work, then I submit it all online myself before the closing date (Well in advance).
Even when I was strictly employed, I always cross referenced my pay to ensure that I was not over or underpaying on my tax and national insurance.
There was occasions my work got it wrong and generally I was overpaying by a long stretch. After that, I started to ensure I had the right amounts and kept it all updated.
Is it just me or is doing taxes a complete headache? I really do want to pay someone to do them for me as right now, it feels so daunting the more invoices I accumulate along with expenses.
It’s time to get things into perspective and seek the help I need for a stress free life.
*This is a collaboration post