Post Tax Season Tips for Small Business Owners
Now that
you’ve made it through the 2013 tax season, hopefully you’ve emerged solvent
and are satisfied with the results.
Just because April 15th
is over however, doesn’t mean you can just forget about taxes. You should start now considering next years’
tax strategies so that you can be prepared and not need to succumb to a last
minute panic. Here are a few tips that
might help you get ahead of the game.
· Update
your books – If you’re a
business owner, you need to keep your books current and up to date daily.
· Conduct
a “mid-year” review of your books – By June or July consider a mid-year review meeting with your
accountant or tax preparer. At that
meeting request that you and your account/tax preparer formulate a way to
minimize your tax bill for next year.
· Plan
funding for a retirement plan –
A retirement plan is a good way to defer income taxes and provide for your
future
· Adjust
your ETP (estimated tax payments) – As the tax year progresses, keep check on your “bottom line” and
adjust your estimates accordingly.
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W-2
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Return Folders- Covers, Folders & Envelopes
Tax Envelopes- Return & Organizer Envelopes
Tax Organizers- Tax Return Organizers
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