OT sorta--coin taxes

notwilight · January 25, 2009 6:17AM

Does anyone here use the Quickbooks online version? With companies going under it seems like some risk although I guess it could be backed up. I'm making the plunge to put all my stuff on quickbooks directly from ebay and paypal. Any advice would be appreciated--even a proper wine for this endeavor. --Jerry

RYK · January 25, 2009 6:26AM

<< Does anyone here use the Quickbooks online version? With companies going under it seems like some risk although I guess it could be backed up. I'm making the plunge to put all my stuff on quickbooks directly from ebay and paypal. Any advice would be appreciated--even a proper wine for this endeavor. --Jerry >>

I will help you with the last part of the request for advice. Given current market conditions, I will recommend beer--from a can--and not wine.

notwilight · January 25, 2009 6:31AM

<< 

<< Does anyone here use the Quickbooks online version? With companies going under it seems like some risk although I guess it could be backed up. I'm making the plunge to put all my stuff on quickbooks directly from ebay and paypal. Any advice would be appreciated--even a proper wine for this endeavor. --Jerry >>

I will help you with the last part of the request for advice. Given current market conditions, I will recommend beer--from a can--and not wine.

>>

IC Light?

RYK · January 25, 2009 6:34AM

<< 

<< 

<< Does anyone here use the Quickbooks online version? With companies going under it seems like some risk although I guess it could be backed up. I'm making the plunge to put all my stuff on quickbooks directly from ebay and paypal. Any advice would be appreciated--even a proper wine for this endeavor. --Jerry >>

I will help you with the last part of the request for advice. Given current market conditions, I will recommend beer--from a can--and not wine.

>>

IC Light? >>

No, even I cannot stomach that. It set my beer drinking years back several years. No Rolling Rock, either. Busch may be the best, low-cost solution.

notwilight · January 25, 2009 6:53AM

<< 

<< 

<< 

<< Does anyone here use the Quickbooks online version? With companies going under it seems like some risk although I guess it could be backed up. I'm making the plunge to put all my stuff on quickbooks directly from ebay and paypal. Any advice would be appreciated--even a proper wine for this endeavor. --Jerry >>

I will help you with the last part of the request for advice. Given current market conditions, I will recommend beer--from a can--and not wine.

>>

IC Light? >>

No, even I cannot stomach that. It set my beer drinking years back several years. No Rolling Rock, either. Busch may be the best, low-cost solution. >>

Truth is, since I got custody of the kids I hardly drink. I have excessively rare bottles of 94 cab in the wine cellar going bad. I need to have a blow out party and drink what's good and get rid of the cellar...

No input on the quickbooks question from anyone? I guess most people here can afford and accountant.

RYK · January 25, 2009 6:56AM

<< 

<< 

<< 

<< 

<< Does anyone here use the Quickbooks online version? With companies going under it seems like some risk although I guess it could be backed up. I'm making the plunge to put all my stuff on quickbooks directly from ebay and paypal. Any advice would be appreciated--even a proper wine for this endeavor. --Jerry >>

I will help you with the last part of the request for advice. Given current market conditions, I will recommend beer--from a can--and not wine.

>>

IC Light? >>

No, even I cannot stomach that. It set my beer drinking years back several years. No Rolling Rock, either. Busch may be the best, low-cost solution. >>

Truth is, since I got custody of the kids I hardly drink. I have excessively rare bottles of 94 cab in the wine cellar going bad. I need to have a blow out party and drink what's good and get rid of the cellar...

No input on the quickbooks question from anyone? I guess most people here can afford and accountant. >>

Perhaps Longacre can trade excessively rare coins for excessively rare cabs, since he seems to have trouble with disposing of his coins by other means.

I use TurboTax but have not had the need for Quickbooks. I was just responding to keep the ball in the air so that maybe someone else would be by to comment.

ricko · January 25, 2009 7:10AM

I would love to help with the wine... Cabernet's are my favorite... Cheers, RickO

Silverstate · January 25, 2009 7:19AM

<< Does anyone here use the Quickbooks online version? With companies going under it seems like some risk although I guess it could be backed up. I'm making the plunge to put all my stuff on quickbooks directly from ebay and paypal. Any advice would be appreciated--even a proper wine for this endeavor. --Jerry >>

Jerry,
Quickbooks is a great program. May I ask why on earth would you use the online version?
You will have to pay an ongoing fee to use it.
Buy the real version. Costco is cheap enough.

I have used Quickbooks for years.

Set up each "Project" that you do and put in expenses against each project as you go.
eBay fees, Paypal fees & PCGS grading fees & shipping costs. - All tied to each "Project"
Other general expenses will be tracked as well.
This thing will work circles around your paper tablet method.
Your goal is to track income & expenses.
Quickbooks will do a great job for you as long as you keep up with the input of data.
If you decide on a CPA later. They will at least understand what you did with all of the money you touched!

notwilight · January 25, 2009 7:23AM

Thanks Jim,
I'm off to staples where it is on sale. The push the online version as having advantages and It would be nice to be able to check on things from away from home but I just realized the monthly fee is ridiculous as you point out.

Thanks,
Jerry

Coxe · January 25, 2009 7:47AM

Jerry -- Can't give you much advice on Quickbooks. However, if you are following the advice to get it at Costco, stop by their wine department. I can make recommendations there. Not sure what they have in stock at the North COunty warehouse where you are, but they generally have some great wines and great prices. A fantastic value white I can rave about it a Chilean Torrontes, Zolo 2008. An excellent wine and value. Gotta have it with something spicy though. (This is a wine that has been barely released and is not on anyone's radar. Don't think I have seen a single review for it.) Alternatives are Kim Crawford (or Kirkland Ti Point = same product) Sauvignon Blanc (New Zealand) any recent year or 2007 Beyond (South Africa), which is not a blockbuster but is well made for the price. If you can find a bottle of the 2006 Treana Viognier-Marsanne, not the current 2007 (though I may have gotten a bad bottle or production might be uneven), it is superb. Red? Forget the overpriced for what they are Napa Cabernets; go to Chile again. Catena Alta Malbec (not the regular Catena Malbec) is really good. Yeah, that would be a proper wine. However, if doing books, maybe a new NV port would be best. They always have a few good ones.

notwilight · January 25, 2009 9:44AM

Coxe,
I'm jealous of you Men of Leisure who have free evenings to drink fine wine. After the kids are in bed I'm listing and shipping and alcohol seems to increase my already unacceptably high error rate. Imagine that. I got it at staples and trying to get a start on the taxes this afternoon. Thanks guys, Jerry

dwssws · January 25, 2009 9:48AM

<< I have excessively rare bottles of 94 cab in the wine cellar going bad >>

throw a party and let me know the address!

AUandAG · January 25, 2009 9:56AM

Jerry, I'm not much of a computer expert but most software companies, as we know them today, will be going
the way of the dinosaur.
Clouds are coming. Yep, clouds. You'll subscribe to an "office cloud" "gaming cloud", whatever cloud and not
ever have to buy software again. Storage won't be a problem and you won't need the big old bulky CPU's
anymore.
What you were about to do was subscribe to a cloud for your computing and accounting needs.
Not a bad way to go in my opinion.
When updates are available it's all automatic.
Microsoft has seen it coming and will be heavily involved in the clouds because folks just won't need to
buy their software anymore.
I do like the costco idea for now though.
bob

PS: not recommending anyone particular for investing in clouds.

ilikebuffaloes · January 25, 2009 10:08AM

I don't like the "cloud" idea when it comes to important info like your financials. As others suggested, buy a copy of the software. If you need to access it from the road, get a laptop (so you can keep up with the forum too). Back up your data file regularly and keep a copy in a safe place.

As far as the wine, I'm not very good with picking that but I like Landshark Lager for a beer selection.

Longacre · January 25, 2009 12:17PM

<< 

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<< 

<< Does anyone here use the Quickbooks online version? With companies going under it seems like some risk although I guess it could be backed up. I'm making the plunge to put all my stuff on quickbooks directly from ebay and paypal. Any advice would be appreciated--even a proper wine for this endeavor. --Jerry >>

I will help you with the last part of the request for advice. Given current market conditions, I will recommend beer--from a can--and not wine.

>>

IC Light? >>

No, even I cannot stomach that. It set my beer drinking years back several years. No Rolling Rock, either. Busch may be the best, low-cost solution. >>

Truth is, since I got custody of the kids I hardly drink. I have excessively rare bottles of 94 cab in the wine cellar going bad. I need to have a blow out party and drink what's good and get rid of the cellar...

No input on the quickbooks question from anyone? I guess most people here can afford and accountant. >>

Perhaps Longacre can trade excessively rare coins for excessively rare cabs, since he seems to have trouble with disposing of his coins by other means.

I use TurboTax but have not had the need for Quickbooks. I was just responding to keep the ball in the air so that maybe someone else would be by to comment.

>>

I can probably craft an argument for how an excessively rare coin and an excessively rare cabernet can qualify as a like-kind exchange.

As for the Quickbooks question, I am really not sure because I never used it myself. I would feel more comfortable with a local version, though.

jmski52 · January 25, 2009 12:22PM

I have used Quickbooks for years.

Set up each "Project" that you do and put in expenses against each project as you go.
eBay fees, Paypal fees & PCGS grading fees & shipping costs. - All tied to each "Project"
Other general expenses will be tracked as well.
This thing will work circles around your paper tablet method.
Your goal is to track income & expenses.
Quickbooks will do a great job for you as long as you keep up with the input of data.
If you decide on a CPA later. They will at least understand what you did with all of the money you touched!

I've used Quickbooks for years in my business. It's a very solid program, but the above observation is correct - you are trying to track income & expenses. You might find other ways to track coins other than the Projects outlined above, but that looks viable as well. I especially like Quickbooks' ability to generate reports. If you have an accountant, they might make some suggestions for you when you are setting up your books.

OT sorta--coin taxes

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