Tax season is an unpleasurable experience for everyone so why wouldn’t we make it easier? The Fall is a great time to get all tax documents organized so the next tax season is smoother.
Our team at Raleigh Bookkeeping recommends prepping for tax season in the Fall by using small increments of time instead of one large chunk of time in the Winter and Spring.
3 ways to prepare for tax season in the Fall are:
Classify Expenses: Make sure QuickBooks is up-to-date and all expenses and sales are classified. If there are questions about specific transactions and how they should be classified, make a list of those and check in with a trusted Raleigh accountant.
Side Note! If there are too many transactions that haven’t been reviewed, now is a great time to hire a bookkeeper in Raleigh to clean up QuickBooks without paying a v
Organize Files: Make sure tax filings from the previous year are easily accessible along with any documents needed for those filings. Typically, 2 years of returns is a great place to start for any Raleigh accountant.
Hire an Accountant: Maybe you didn’t use an accountant last year or you are ready to switch to a new one. The Fall is a great time to meet multiple accountants, interview them, ask questions, and make a good choice.
If you need a more detailed plan of how to prepare for your taxes, we would love to help lay that out for your business. Contact our team at Raleigh Bookkeeping now to get started!
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