I have had a genealogy business for a while. Unlike my other clients who have found my online, my most recent client is different whereas this one had advertised and interviewed prior to contracting. Several people are telling me that since the client did not find me online that I can skip depositing the money into my business account. They think if there are any taxes I can pay them with my business even though I put all the money into personal. I am not sure. What I had been doing up until now is depositing money into my business account first and make sure it clears. Afterwards I make sure all expenses are paid and there is enough to pay for taxes (even if there isn't any). Finally I give myself a salary with writing myself a check with my business account. Personally I really don't see the difference between obtaining a genealogy client via email or phone who found my business online verse this client. I just want to make sure my taxes are not messes up if I stuff checks into my personal account instead of business especially when the checks say the purpose is genealogy. Amy

The final answer should come from your accountant. But the source of your business doesn't have anything to do with where you deposit your money. If you get paid for doing your job, in this case research for a client, then it is business income. Sent from my iPhone On 17 Nov 2012, at 19:59, <dunna@roadrunner.com> wrote: > I have had a genealogy business for a while. Unlike my other clients who have found my online, my most recent client is different whereas this one had advertised and interviewed prior to contracting. Several people are telling me that since the client did not find me online that I can skip depositing the money into my business account. They think if there are any taxes I can pay them with my business even though I put all the money into personal. I am not sure. > > What I had been doing up until now is depositing money into my business account first and make sure it clears. Afterwards I make sure all expenses are paid and there is enough to pay for taxes (even if there isn't any). Finally I give myself a salary with writing myself a check with my business account. > > Personally I really don't see the difference between obtaining a genealogy client via email or phone who found my business online verse this client. I just want to make sure my taxes are not messes up if I stuff checks into my personal account instead of business especially when the checks say the purpose is genealogy. > > Amy > The Transitional Genealogists List was created to provide a supportive environment for genealogists to learn best practices as they transition to professional level work. Please respect the kind intentions of this list. > ------------------------------- > To unsubscribe from the list, please send an email to TRANSITIONAL-GENEALOGISTS-FORUM-request@rootsweb.com with the word 'unsubscribe' without the quotes in the subject and the body of the message

I agree. The IRS doesn't care where it came from, just that they get their share. Sincerely, Melanie D. Holtz, CG Holtz Research Services Melanie@holtzresearch.com www.holtzresearch.com On Nov 17, 2012, at 9:26 PM, "Office" <ann@wellsresearch.net> wrote: > The final answer should come from your accountant. But the source of your business doesn't have anything to do with where you deposit your money. If you get paid for doing your job, in this case research for a client, then it is business income. > > Sent from my iPhone > > On 17 Nov 2012, at 19:59, <dunna@roadrunner.com> wrote: > >> I have had a genealogy business for a while. Unlike my other clients who have found my online, my most recent client is different whereas this one had advertised and interviewed prior to contracting. Several people are telling me that since the client did not find me online that I can skip depositing the money into my business account. They think if there are any taxes I can pay them with my business even though I put all the money into personal. I am not sure. >> >> What I had been doing up until now is depositing money into my business account first and make sure it clears. Afterwards I make sure all expenses are paid and there is enough to pay for taxes (even if there isn't any). Finally I give myself a salary with writing myself a check with my business account. >> >> Personally I really don't see the difference between obtaining a genealogy client via email or phone who found my business online verse this client. I just want to make sure my taxes are not messes up if I stuff checks into my personal account instead of business especially when the checks say the purpose is genealogy. >> >> Amy >> The Transitional Genealogists List was created to provide a supportive environment for genealogists to learn best practices as they transition to professional level work. Please respect the kind intentions of this list. >> ------------------------------- >> To unsubscribe from the list, please send an email to TRANSITIONAL-GENEALOGISTS-FORUM-request@rootsweb.com with the word 'unsubscribe' without the quotes in the subject and the body of the message > > The Transitional Genealogists List was created to provide a supportive environment for genealogists to learn best practices as they transition to professional level work. Please respect the kind intentions of this list. > ------------------------------- > To unsubscribe from the list, please send an email to TRANSITIONAL-GENEALOGISTS-FORUM-request@rootsweb.com with the word 'unsubscribe' without the quotes in the subject and the body of the message

I would disagree for many reasons. If the cheque was meant for services it should go through your business account and your books. It is not just income you want to track for tax purposes but expenses as well. Books don't have to be elaborate but you should be keeping some kind of accounting system separate from your personal issues. It sounds like you already have a way of paying yourself a salary after taxes and expenses are considered. Being consistent makes sense. Kathie -----Original Message----- From: transitional-genealogists-forum-bounces@rootsweb.com [mailto:transitional-genealogists-forum-bounces@rootsweb.com] On Behalf Of dunna@roadrunner.com Sent: November-17-12 9:00 PM To: TGF forum Subject: [TGF] taxes and genealogy I have had a genealogy business for a while. Unlike my other clients who have found my online, my most recent client is different whereas this one had advertised and interviewed prior to contracting. Several people are telling me that since the client did not find me online that I can skip depositing the money into my business account. They think if there are any taxes I can pay them with my business even though I put all the money into personal. I am not sure. What I had been doing up until now is depositing money into my business account first and make sure it clears. Afterwards I make sure all expenses are paid and there is enough to pay for taxes (even if there isn't any). Finally I give myself a salary with writing myself a check with my business account. Personally I really don't see the difference between obtaining a genealogy client via email or phone who found my business online verse this client. I just want to make sure my taxes are not messes up if I stuff checks into my personal account instead of business especially when the checks say the purpose is genealogy. Amy The Transitional Genealogists List was created to provide a supportive environment for genealogists to learn best practices as they transition to professional level work. Please respect the kind intentions of this list. ------------------------------- To unsubscribe from the list, please send an email to TRANSITIONAL-GENEALOGISTS-FORUM-request@rootsweb.com with the word 'unsubscribe' without the quotes in the subject and the body of the message