Yes, the internet is rife with lists but since we are all in the tax time crunch, we wanted to provide you with a tax time survival checklist that's a quick and easy read. Let's get to it!
For most entrepreneurs, tax return filing isn't a quick and easy task. And that's OK. The key is being patient. Know that you will likely encounter things that you might not have last year or the year before that. And if you think about it, that's a good thing: as your business grows, so to will the complexities of your tax situation. Things like new employees... new expense... new locations... they all have an impact on your tax situation. So be patient as you wade through it all. (Of course you don't want to be too patient...)
Or some other form of caffeination. Need we say more?
When you are jamming on your finances for hours on end without a break, mistakes will be made. Make a commitment to take some time every 2-3 hours to step away. Even a quick walk around the block will be sufficient enough to help you focus better on the tax task at hand.
A Good Chair
While most of us here at Kashoo are big fans of the standing desk, we realize it's not for everyone. That said, a good chair for those hours spent sifting through tax materials is crucial. And don't forget to capture the receipt for your chair! It's a write off for this year!
The Right Tech
Gone are the days of filing your tax return by hand (or at least they should be gone). Naturally we're biased as to what accounting software you should use, but it goes deeper than that. If you're relying on the web for managing your business finances and tax work, make sure you have a reliable internet connection. (Another write off!)
Tax time always feels like this big scary thing. Deadlines, money out the door, the fear of getting something wrong... the list goes on! But in the grand scheme of things, it's not the be all end all. Sure, it's to your benefit to file on time and pay what you owe, but it's also important that you don't freak out about it to the extent that your nibbling your nails away, incapable of sleep. Take a deep breath. It's going to be OK.
Could we keep going with this list? Without a doubt. But we've got accounting software to run and you've got tax returns to file!