All true and all good stuff but be aware the IRS is hiring 2,500 new auditors Now.
And you will be getting 1099s from every entity that handles more than $600 sales for you. This is not something you can ignore.
Also, the number two reason for an audit of a business is something called Simplicity & Accessibility. That basically means that if you keep sloppy records, even if they are right, you are more likely to have an auditor knocking at your door. That seldom ends well.
