
If you create your own financial accounting system for keeping track of your money, don't make it too complex; the simpler the better. This will benefit not only you but also anyone you bring in to help, and it'll be easier for someone else to understand if something should happen to you.

If you can afford a computerized accounting system for your business, it's a good idea to get one; however, you can also make do with a basic spreadsheet program to help you keep track of costs and income. Whatever you do, keep it in order and make it easy enough for anyone to follow.

Most community colleges offer tax accounting courses for small businesses and individuals. While they may cost a few hundred dollars, they're invaluable for expanding your financial literacy, and tend to be easy to access, since community colleges are available all over.