Monday, May 14, 2012

It will come again - Tax Time

How did your last tax return go?  Not so good?  Well, unfortunately it will come again.  Now do not leave the page or push the computer of the table, but you might be able to make the next one a little better.  You have a lot to do with your business's finances so moderating your own practices of how you deal with money and records may help the business.  Amazingly enough, it comes from making a lot more paperwork or if you are tech-savvy enough, several computer files.
An article from Entrepreneur.com talks about bookkeeping tips for business owners.  Planning, of course, is the largest part but that takes knowing where you are on the scale of red to black to make a difference, so it has to start with some records regardless.  The next largest point is learning to set aside some of your company money to pay for taxes ahead of time.  Depending on your business, size, location, etc., you will have particular parts of taxes that are probably of a similar value each year.