I enrolled myself in a few accounting and tax preparation workshops with my local Small Business Association, which I highly recommend to you. I ditched Quickbooks and began using a simple Excel spreadsheet at the suggestion of an accountant. Overtime, I refined my spreadsheets to reflect my unique situations and those of the yoga industry.
Once I learned how to organize my accounting, preparing my business and personal income tax became a whole lot easier, and I figured out how to do it all on my own (ok, with a little help from TurboTax).
Now, I’m no legal expert or tax professional (although I consulted with a licensed EA tax professional in the making of this guide), but I know how hard it can be to get quality information and advice that specifically relates to the unique dynamics of the yoga industry, especially when your resources are limited.
That’s why I’ve created this guidebook and downloadable Excel spreadsheets, because there’s a lack of affordable and easy to understand guidance on the subjects of bookkeeping and taxes. I hope that you can learn from my experience, so we can save you time, money and energy when it comes to taking charge of your income.
I truly believe the more yoga teachers learn to think and act like the small businesses we are, the greater the impact we’ll have on the world because we’re better equipped with sustainable incomes and the business savvy skills needed to grow our classes and spread the message of yoga.