BOOKKEEPING TIPS THAT WILL MAKE YOU A BETTER BUSINESS OWNER – Tip #4

BOOKKEEPING TIPS THAT WILL MAKE YOU A BETTER BUSINESS OWNER – Tip #4

HIRE A PRO TO HELP YOU

While you can certainly do the day-to-day record keeping for your business, It’s highly encouraged you to entrust a professional for the final cut before sending over your information to the IRS.

This provides you with four key benefits:

  1. Ensures that your records are double checked by a numbers professional.
  2. Puts your mind at ease that you are running your business the way you should.
  3. Helps you in the long run by getting all the latest tax breaks, credits, and write-offs appropriate for your business. Tax laws are always changing, so it can be a lot to keep up with if you don’t hire a professional to help you.
  4. Makes you less susceptible to a tax audit. When the IRS views your tax returns and notes that it was filed by a professional, it will have a lesser chance of being flagged for an audit.

NOW THAT YOU KNOW JUST HOW SIMPLE IT CAN BE, HOW WILL THESE IDEAS HELP YOU IN YOUR BUSINESS?! LEAVE A COMMENT BELOW AND LET’S CHAT ABOUT IT!

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Bookkeeping Tip #3 – Don’t Wait Until Year End to Talk to Your Accountant

Bookkeeping Tip #3 – Don’t Wait Until Year End to Talk to Your Accountant

Make it a point to be in contact with your accountant regularly, not just at the end of the year. Doing so will make sure that any bookkeeping issue will be caught in time and will be easier to work out. Even though accounting software can enable practically anyone to monitor their business financials, having a good accountant as an advisor is valuable as they are able to give you sound opinions beyond setting up an accounting system. Your accountant should be able to help you with setting up your business from the start – creating an effective business structure, obtaining necessary permits and licenses (if required), setting up payroll, and even filing taxes.

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