Finally! Tax Season is Done!

Bylur has the right idea – time to chillax now that tax season is done!

However … and I hate to be THAT person, but I gotta … tax season is really never over.  Because after you’ve taken a little time to recharge after the stress of getting the taxes filed, you need to take a look at this year’s finances to make sure you’re on top of everything for the next tax filing.

Examples of business changes to review with your tax preparer (even if that’s you):

 

• • If you hired employees for the first time, you need enter the transactions correctly so you’re not overstating your payroll tax expense and understating your wage expense.
  • If you purchased any equipment or property, you may need to calculate depreciation in order to spread the expense over the next few tax years.
  • If you took out loans, you’ll need to make sure the payments are divided between the principal and interest portion.

 

 

Reviewing these changes now, while we’re still in the first half of the year, will help lower the time and stress for next year’s tax filing.  If you’d like to schedule an hour of our time to review any of these changes with you, click here to schedule a One-Hour Bookkeeper appointment.

Again, reward yourself with some rest after all your hard work!