Tax season will be upon you quicker than you think! Especially if you’re not prepared. “I’m not going through this late filing deadline and spending 2-days before the deadline having to input an entire year of transactions into quickbooks next year, nope, not gonna do it!”
- Sound like you {{ subscriber.first_name }}?
- Do you file your taxes by the April 15th deadline every year?
- Have you filed business taxes before?
If you’re a business owner, you MUST file taxes every year, so this is for you.
Here’s to you thinking about the WHO, WHAT, WHEN, HOW, and WHY of filing taxes for your business.
Hack #1: Who’s going to do your books? You or a bookkeeping?
- You: What accounting system will you use? Do you need training? How much time do you need to get it done?
- Bookkeeper: Do you need to find a bookkeeper? Know that it’s hard around tax time to find a bookkeeper that have availability.
Hack #2: Where will you file your taxes?
- CPA: Do you need to find a CPA? How will you find one? Will you get referrals?
- Local Tax Office (H&R Block): Where are they located? When do they need the books by? What information will they need from you? How long will they take to complete your taxes? Cost?
Will you file your taxes yourself or will the person or place that prepare your taxes and file them for you?
Hack #3: What do you need to do to prepare and have tax ready books to hand to your CPA or tax preparer?
This is the short list. Of course, depending on your situation they may need more:
- Profit and Loss Statement
- Balance Sheet
- 1099’s
- Dividends
- Receipts
- Sq. Ft. of home office or dedicated area where you work
- Sq. Ft. of home
- Gas
- Electric
- Telephone / Cell Phone
- Water
- Mortgage
- Home Insurance
- Car Insurance
- Fuel
- Auto Payments
- HOA
- Medical
- Health Insurance
- Gifts
- Internet
So, what are you going to do? Are you going to wait until the last minute or print this off and get your books together?
Just by preparing yourself with the Hacks I’ve shared here, it will save you time and money at tax time.
You got this. Either way get the support you need to make it happen!
