One of the most important steps in maintaining a tax strategy is protecting your bottom-line.
This means implementing and maintaining a system that provides proper documentation to ensure the accuracy of the information you provide your CPA for tax reporting.
This will enable you to protect your tax savings and avoid unnecessary penalties and interest.
This will also help to maximize your tax deductions by ensuring no transactions are overlooked.
Are you maintaining a proper documentation and accounting system?
Set up a time to speak directly with me here to get your tax planning accounting process in order:
>> Click here to apply for your Strategy Session Now <<
This is imperative to protect your tax savings and avoid unnecessary penalties and interest.
I go over this in detail in the video below.
Some areas to focus on to improve your documentation are:
- Ensuring your books are always update and reconciled at least monthly
- Scan and store all receipts electronically
- List the business activities performed in your home office
- Calculate and Document the percentage of your home used for home your office
- Track and Document your business miles in a mileage log throughout the year on at least a monthly basis to support the business use of your vehicle
Contact me and my team today to schedule a one-on-one initial strategy call today to discuss your business.
Set up a time to speak directly with me here to get your tax planning accounting process in order: