# Have we talked about this? Mint / Intuit



## JRHill02 (Jun 20, 2020)

Never, never do their tools to access your bank accounts. Did you get that? Never give account and password so they can conveniently download your info.. Much has changed from the days of TurboTax, etc. Now they do a bunch of other things. Selling your data is paramount. Your mortgage, investments, 401k/Roth.... Whatever you give them they will use. You think Google is bad? Hah.

Keep your info closely held.


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## Pony (Jan 6, 2003)

I attempted to use Mint when I opened an office. Gosh-awful service, just plain impossible.


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## JRHill02 (Jun 20, 2020)

I'm not even sure what software would be appropriate these days for a small/home business. In the late '80s and 90s I used Peachtree Accounting software. It was/is(?) a full featured double entry system at the time and once set up was pretty good, except for one or two annual updates that trashed the data. I did all my own book keeping. It sucked re-entering even a few weeks or months of billing, receipts, payroll, etc. but thats what happened in the days of 3.5 discs and early Windows SW. My accountant loved me as the output reports had a universal output that was usable for his system's import so very little manual re-entry of data. I was a small "C' corp with a registered agent (lawyer) and a CPA and never once did I get audited. My deal could've been more high risk as it was home based with a substantial addition to the house for the office and shop which I rented to myself, not to mention huge amounts of mileage and per diem.

For many years I never took a paycheck. I/we did really well living on per diems and mileage. At one point I had a mean call from the accountant: I can't continue to not have a paycheck. "If you do not take a paycheck you are at substantial risk." So I entered myself into payroll, I wrote my fist paycheck and that sucked. The worst was that I had to pay unemployment, both sides of FICA, etc,etc on myself but could not draw it. On and on. The business discussion to go small C goes much further than this thread but it was mainly about liabilities.

All I can advise at this point is to have an advisor. In my case I had a moderately sized accounting firm who's owner was a friend and member at our church. The attorney for the filings was recommended but a cool guy. YUP, those annual professional fees added up but it was cheap insurance that there were easier targets than my little deal.

Home deductions are one of the biggest attractions to an audit for the self employed. All I can say s it you don't need the deduction, don't take it. I still follow that today. If my deductions are greater than income, I lose receipts and adjust the filing accordingly. Why would you file deductions substantially larger than the tax bill allows? Duh. Its an invitation for a bad day.


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