It's Countdown to Tax Season. Here are 3 Items to check off from your list to get you ready for the Tax Season.
The Holidays are Over; Now, It's Time to file your Taxes. Are you Ready for the Tax Season? Practice these Tips and make this Year's Tax Season a Stress - less one for you.
Tip #1 - Ensure that your Financial Records are up to Date.
Ensure that all your Bank Statements, Credit Cards and Loan Documents are gathered together and arranged properly. This is a good time to download them from your Bank. Once this is done, you can post them into the Accounting Software.
Tip #2 - Gather all Payroll Documents.
Ensure that you have all the Payroll Documents for all your Employees and Contractors. It's good to have your employees update their W2 and Contractors update their W9 during the Course of the Year. This will ensure that all the W2s and 1099s go to the correct Addresses. This will avoid a lot of hassles during the January 31st Due Date Timeline.
Tip #3 - Ensure that all your Accounts are properly Reconciled.
This includes all the Bank Statements, Credit Cards and Loan Accounts ; The Purpose is to ensure that all the Expenses are listed according to the various Tax Account Categories, and this will help to reduce your Tax Liabilities.
WOW, Does it seem too much to do? Don't Worry, We're always Happy to Assist you. Feel Free to Reach out to us. Our Aim is to help you keep your Books in order, Maintain Proper Account of all your Income and Expenses and invariably help your Business Grow.
Call US TODAY @ 202-422-4586 for More Information.
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