|On May 8, 2009 Victor R. Volkman and Tyler R. Tichelaar spoke with computer training and accounting expert Edna Washington of Washington Consultants, LLC. We previously recorded Edna at the 2008 Motown Writer’s Conference but response was so great that we invited her on for a full 40 minutes of Q&A about business records, taxes, and structuring your company. Edna Washington is a workshop presenter and has over 15 years accounting and computer experience. We grilled her on a variety of common startup questions incuding:
- Do I want to be a proprietor or a corporation?
- How do I setup my business so it is properly recognized?
- How can I amortize a large book printing over several years?
- Do I need QuickBooks to manage by business?
- What are 1099s and when do I give or receive them?
- How can I draw money from the business?
- What is the “home office” expense and can I claim it?
- What types of deductions are commonly missed by authors?