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Oh come on. Tax evasion by barbers is a classical example of why taxes are so high for the rest of us. The cost of bookkeeping for a very small business is ess
by elric 23d ago
Oh come on. Tax evasion by barbers is a classical example of why taxes are so high for the rest of us.
The cost of bookkeeping for a very small business is essentially zero. Everywhere that I know of exempts small business from double entry bookkeeping. VAT exemptions exist if revenue is low enough, too.
Privacy requirements are even easier: don't ask for, store, or process any personal information you don't absolutely need.
Your barber is being dramatic.
- watt 23d agoI am not sure what you are driving at. My understanding of double entry bookkeeping is it's simpler and easier than the so called "single entry" bookkeeping which adds a lot of complexity because of all the special cases.
- elric 22d agoA simple spreadsheet of income & expense is all that's required for most small businesses. Larger companies require full fledged double entry bookkeeping with requirements about charts of accounts -- which usually necessitates paying an accountant, unless you enjoy that particular kind of pain.