Bookkeeping (Part 1)

Now that you have your new state medical license and DEA number, your pockets are $2,000+ lighter.  You also probably spent an additional $100 to $200 in mailing costs. :'( This is only the beginning of your spending spree! Remember that scene in Pretty Woman where Julia Roberts goes on a shopping spree on Rodeo drive? It's kind of like that, but you're shopping for toilet paper and trash bags at Office Depot with your 15% off coupon, while eating a chicken sandwich from the 99 cent menu at McDonalds because that's all you can afford now.  Yeah...Good times.  :|

Although it seems like you're light years away from collecting a single penny in revenue, you will ultimately become profitable, and the IRS will eventually come knocking on your door. You will have so many expenses lined up that if you don't start keeping good track of them NOW, it will cost you dearly when it's time to file your tax return in April.

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