For some, this is the scariest season of the year; fearful steps into insecurities, discovering messages from the unknown, sleepless nights battling monsters, and chilling surprises. No, it's not Halloween. It's tax season!
Many of us have been conditioned to approach doing our taxes with trepidation and suspicion. It's as if we are playing a game of chance, and all we can do is hope to outsmart "the man." It's time to quit gambling. Some simple habits can help us feel effective and prepared to run the numbers.
- Start early to gather the documentation you will need. Ask your bookkeeper what papers they will need in advance, and take your time gathering things up. Rushing at the last minute to find items that may have been misplaced or have to be tracked down can make the process extra stressful.
- Keep your books up to date. If YOU are your bookkeeper, develop a system for checking on your finances weekly or monthly to ensure that things are accurate. If steps have been taken all year to keep your finances in order, tax season will be a time for reporting on the work you already did.
- You can outsource. This is when "work smarter, not harder" becomes particularly applicable. Let’s be honest, not everyone is designed to do accounting. If you know that taxes, deductions, depreciation, and tax laws will bring you to tears, take the work to the experts. Shoresource Business Solutions can help!
Now, let's keep spooky in the Fall and enjoy the Spring.
Are you interested in learning more about ShoreSource Business Solutions, LLC?
Feel free to reach us at 843.729.2961 or info@shoresourcebiz.com.
