September 29, 2020Comments Off on Avoiding a Last-Minute Tax Season Panic Posted in: Business
Tax season is a phrase that makes many people cringe. You may
put off filing your taxes until the very last minute, and this can lead to some
unnecessary stress. Instead of putting off your tax preparation until April 14,
consider these tips for having everything ready to go on time. You and your
accountant at your tax firm Sarasota FL will
both be thankful!
Keep Payroll Records
Throughout the Year
Keeping concise records of your payroll history throughout the
year can help clear up any discrepancies during tax season. If you have
accurate records of how much you were paid and how much tax you paid, you will
be able to easily compare that to your final tax return. This can help you and
your accountant immediately pinpoint any errors.
Get Your Forms on Time
The federal government requires employers to have W-2 tax
forms distributed by January 31. This gives …
April 17, 2020Comments Off on Taking the Stress Out of Tax Season Posted in: Business
When January rolls around, the paperwork starts flying in: W2s,
heath documentation, and employer verification forms. It’s a lot to handle;
plus, you have to deal with new tax laws and receipts. How do you keep your cool
while getting everything done? It doesn’t have to stressful. Instead, consider
the following tips.
Create a Folder
This sounds overly simple, but it helps to have a place for
everything. Find an old envelop or an empty folder and put your documentation
in that one spot. That includes receipts and emails noting donations or
expenses. With a system in place, you won’t be hunting down something
important.
Find a Professional
If you can’t handle the nuances of filing, then locate someone
who does. For example, find an expert associated with The United CPA Association. These accountants
possess keen knowledge. They can handle any complications or issues, including
an extension should that be …
