My husband and I typically file our taxes in February. We have five business returns and one personal return to file, so it’s no small feat. What’s the trick? We use Quickbooks and keep it updated monthly. I have a short list of items I look at a few hours a week, then I spend some time once a month tying up the loose ends. There are a few year-end steps I take, but for the most part it is done by the time my husband’s W-2 arrives.
I don’t say that to brag. I say it to encourage you that you, too, can lose that awful dread. You don’t have to burn the midnight oil trying to get your business records to the accountant before the tax deadline. We work with you to set up a system that works for you throughout the year. Then we work with your tax preparer (no, we aren’t trying to get your tax prep business) to find out exactly what they need to prepare your returns. Most of our clients are relieved to find out the documents going to the accountant fit in a single, thin file folder. They are also surprised to learn that the tax preparer can usually reduce their tax preparation bill because they don’t have to dig through a pile of papers. Clients are also empowered by the information they have available to them throughout the year to do some tax planning and anticipate their tax position long before the tax return is done.
So if last tax season left you feeling like you got punked, now is the time to make some changes. Next year doesn’t have to be a repeat of this year. You can actually enjoy Spring. Fly a kite in March. Maybe even come up with a good April Fool’s joke to play on someone who needs a good laugh. You don’t have to feel like a fool in April. Call us today and let’s get started.