Final 4 Key Steps to Getting Your Taxes Prepared: Save Time, $ andAggravation

05 Feb Final 4 Key Steps to Getting Your Taxes Prepared: Save Time, $ andAggravation

1. Review your tax planner document or list of required items from the person who prepares your taxes and gather ALL of the items.  Not including requested items will hold up the preparation of your forms and delay your returns.
2. Scan your tax related documents that you need for tax preparation to P.D.F.  Items like payroll tax quarterly statements, 1099s from your credit card processor, your December bank reconciliation, your mileage log etc can all be turned into easily shared and fairly universal P.D.F. format.  This will prevent loss of documents over time, makes them easy to send by email and will protect you if your originals are lost or damaged.
3. Back up your QuickBooks or other bookkeeping files being sure to put a password and date on the file. A date is key if you have to go back years later and provide a copy of the file for the IRS in the event of an audit.
4. Email or upload your bookkeeping file and your scanned documents to your accountant/CPA/tax preparer or other qualified tax preparation specialist that you have carefully selected.   This person should be selected because they help you not only prepare your taxes, but help with financial planning and business matters.  Make sure that any sensitive information is password protected and make sure you let the accountant know what the password is. DON’T email the password in the same email!

SEND YOUR INFORMATION AS EARLY AS YOU CAN!  If you are a corporation NOW is the time.