Disclosure: I was compensated for writing this Tax Preparation sponsored post for H&R Block. Regardless, I only recommend products and services that I use or feel will be an amazing resource to my audience. All opinions are my own.
Skip the headache, start a routine of year-round tax preparation and planning. Here’s how
It’s always a scramble. That last minute desperate search for receipts or the quest to find that lost W-2 in time for tax day. Why do we always wait until the last minute to put things together for our tax filing appointment? The solution is taking part in better year-round tax preparation and planning. However, organizing your tax situation is a lot easier with a strategy—and maybe a little help from an expert.
Tax preparation is not a one-size-fits-all option, and if you run a business it’s not even a one-day-a-year-event. Your financial situation is different than your friend’s or neighbor’s. Your tax planning should be custom-tailored to fit you. Fortunately, there are several ways to make tax planning less of a headache.
Set Up a System
First, you should set up a system to keep track of things like receipts for regular expenses, big losses, major purchases, and tax deductible donations. This doesn’t have to be a complicated system. It can consist of something as simple as a series of clearly marked envelopes.
Set a Few Minutes Aside
Next set a few minutes aside once a month to reconcile and track any financial items. Schedule it on your calendar and keep the appointment! Taking 20 minutes to make sure the finances for the month are in order beats going back through 12 months of financial statements—or more often, if you file taxes quarterly.
Get Tax Preperation Help from an Expert
Block Advisors as Your Hometown Tax Advisor. In addition, Block Advisors can ease the workload carried by small businesses by providing back-end needs like payroll, bookkeeping, and other tax and accounting services. With 280 Block Advisors offices in the country there’s likely one near you. Think of Block Advisors as your hometown tax advisor.
Block Advisors are devoted to their clients and stand by their work. As your year-round tax advisor they are there to answer your questions and help you plan for the future. Best yet is their promise that you’ll never go it alone when it comes to IRS reporting.
Take a proactive approach and start thinking of tax preparation as a year-round planning activity not just a last-minute headache. Find a Block Advisors office near you at https://blockadvisors.com.