Once again we’ve seen another tax deadline come and go! Each year preparing the books and records for the tax preparer is a task that takes time and energy from things that we would prefer to do. For many it’s also a learning experience to see what your annual profits actually were. Wouldn’t it be nice to know how you are doing during the year so you could make adjustments and increase your revenue?
Now is the time to talk to your tax preparer and accounting staff about your recordkeeping practices. I have found that additional training and/or upgrading bookkeeping practices usually saves considerable time and increases the accuracy and timeliness of your records.