Top Tax Tips for the Small Business Owner

It's that time of the year for taxes. Since it only comes around once a year, I thought I would give you some tips on preparing for your tax accountant:

• If you are using a software program, make sure that you reconcile all accounts before sending a copy to your Tax Preparer.
• Good backup includes, bank statements for the year, receipts for major expenditures, previous 2 years of tax returns (if you are using a new Tax Firm), any correspondence with the IRS or SCDOR, check copies.
• Any estimated tax payments you have made during the year.
• If you are a retail store or have inventory, the year-end inventory listing at COST.
• A filled out checklist from your preparer.

Try to get this information to the CPA by the 15th of February. Remember, the deadline for filing is March 15th!

If you need help, contact our firm at kathy@bkurtzcpa.com or call (843) 971-5866 and set up an appointment.

Brian, Bella & Flora