Make the Most of Your Money Newsletter
It Could Have Been a Disaster
Once upon a time, I was told that computers would make us a paperless society. I don't think that has actually happened. Do you? Paper is a good thing. You need to keep documents that prove you have delivered the goods / services as well as what goods / services were contracted for.
I am in the middle of an incident with a client that proves my point. I have signed contracts and NDAs that specify services, delivery dates and charges. I also have emails (more than 90 pages of them) detailing when items were delivered, questions to/from the client, changes to delivery dates and more. Plus I kept detailed notes from phone calls, invoices and payments made.
It's a good thing I have all this. The client has told her superiors I didn't perform and owe them money. It has gotten complicated but the bottom line is I have the documentation to prove I did the work and delivered as contracted. It could have been a disaster and I could have lost hundreds of dollars without these papers.
Everyone in business experiences this (or similar situations) at some point. Make your life easier and reduce your stress level by keeping all documents (hardcopies are best) associated with a project or goods sold. You will be glad you did.
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Quick Tip
Did you know you can only claim up to $25 for gifts from your company to an individual? Yep, if you send a gift worth $45 to Joe Smith. You can only claim $25 as a business expense on your taxes. The remaining $20 is not deductible. But wait, if you send the gift to the company (ABC Me) instead, you can deduct the entire amount.
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Have questions or need clarification on anything, please feel free to email or call me. I am happy to help.
Suzette
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Suzette Flemming
Flemming Business Services
Phone: 425-432-5870
Your Money is Our Business.
P.S. Do you know of someone who would benefit from this article? Please feel free to pass it along.
