Everyone's favorite topic, I know!
When do you start your taxes?
Personally, I have an expense sheet that I fill in as the month goes on. It is labeled with the right deductions and categories, then I simply put it into a pivot table at the end of the year and send to my accountant.
Square does a great job of sending out W2s and W3s so I download from there and I am done!
I submitted my stuff to my accountant end of Jan!
Emily,
Taxes for me are an ongoing event all year, too. Since I'm knowledgeable about tax forms, having once designed and programmed finance/tax software for a couple of corporations, we decided that I would save us some money and use TurboTax for Business to prepare our three LLC returns. Then, I send those to our CPA who reviews them, provides feedback, and lets me know when they are ready to file. I created a spreadsheet that maps my account software's Chart of Accounts to the appropriate TurboTax lines so all I have to do in January is enter those numbers and make sure everything balances and passes error checks. Yay.
Lately, the biggest hurdle has been the various taxing authorities. It takes them forever, anymore, to finalize tax returns. But, I'd rather be waiting on them than behind the eight-ball trying to play catch-up. Life is much calmer at tax time because I am doing it all year, behind the scenes, with my spreadsheets. 😏
We pay for an accountant on retainer monthly so the biz is ongoing & taken care of.
As for my personal I'm getting it together this week..
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