| Tax day shouldn’t be a day of burden and dread. In | | | | earners in your family? It is important that every |
| fact, with the proper tax preparation, April 15th can be | | | | tax-paying member has filed their own tax return. If |
| a day for fulfillment and success. There are certain | | | | you are the singular earning body of the family, then it |
| steps you have to take to make sure you’re | | | | would mean that you are entitled to certain things that |
| tax-prepared and to ensure, your staff, and your | | | | your dependents are not. Tax preparation has |
| company stay away from trouble. Here are a few | | | | variables so make sure you have a clear |
| tips: | | | | understanding of these processes. Ask a Certified |
| Getting all your paperwork in order is the first step for | | | | Public Accountant firm for help if you need to. |
| tax preparation. Make sure that you have information | | | | Ask for n extension if it is only necessary. Yes, it is |
| from all your sources of income. If your employer | | | | possible to ask for an extension on your tax report |
| neglects to send you an earnings statement in a timely | | | | but, it is still better if you submit on time. Only ask for |
| fashion — hopefully at some point directly after the | | | | an extension if it is of dire need. Again, save time. Do |
| New Year — you must make sure that they do, | | | | with what you have or get professional help. Avail of |
| preferably in writing with duplicates made for IRS | | | | Quick Books Consulting services or online bookkeeping |
| corroboration in the event that they fail to respond. | | | | companies. These are convenient and reliable means |
| Make a list of all your expenses and deductibles. If you | | | | of getting your books and taxes done. |
| have an accountant or personal bookkeeper, then this | | | | Learn the dos and don’ts of tax-filing. File with a |
| should be easier for you, but if you do your own | | | | preparer affiliated with a professional organization and |
| books, then it’s best to this early on. In many cases, | | | | make sure you file your taxes with someone you trust |
| there are work-related expenses that you did not | | | | and have good knowledge of tax policies—like your |
| even know you had made, or had forgotten about. | | | | accountant. If you’re filing online like a lot of people, |
| Think back in your mind about all the things you had to | | | | do it with a firm registered with Thawte and/or TrustE |
| buy for your job in the last year. Have a detailed list of | | | | (security and privacy certification companies) and listed |
| your payroll, receipts, invoices, etc. Make sure you | | | | as an authorized e-file provider. |
| submit all these data to your bookkeeper or | | | | Know what to avoid. One important thing to avoid is |
| accountant so they could pen it in. | | | | purchase a refund anticipation loan (RAL). Do this only |
| Learn to adapt. Paperless accounting and bookkeeping | | | | until you are clear about all your other options and |
| is a fast growing trend among big and small | | | | know how much money you are losing. |
| businesses in the US. Accounting and bookkeeping | | | | Do not let tax preparation overwhelm you. Get on |
| software are now easily available which makes doing | | | | them early and make sure that you have all your tax |
| taxes and your books faster and easier. For example, | | | | forms prepared so that filing will go as easily as |
| a lot of Certified Public Accountant firms turn to Quick | | | | possible. And who knows? At the end of the day you |
| Books consulting for a much more efficient way of | | | | may have a check coming your way — if you set |
| tax preparation and doing the books monthly. | | | | about things the right way. |
| Get more familiar with the family. Who are the wage | | | | |