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Make Filing Your Small-Business Taxes Easier

December 19, 2021
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No one likes filing taxes, but it must be done. Having a San Antonio TX CPA like The Gonzales Group to help you is a good first step, but there are a lot of things you can do for yourself to make filing much easier and potentially more profitable for you. It does take some work and dedication, but it’s worth it in the long run.

First and foremost, you really should check your accounting software daily and update it as needed. This may seem excessive, when many people will tell small businesses to check weekly or even monthly. Yet by doing this, you gain a better understanding of your financial situation and can keep up to date on the overall health of your business.

For one thing, by checking daily, you’re less likely to miss unpaid invoices. Just as important is the ability to register small expenses each day so that they aren’t forgotten.

For example, when it comes to automobile expenses, and travel, it’s necessary to document the  amount, place, and date of each expenditure, not to mention the reason for this business trip. Rather than having lots of receipts piling up and forgetting the purpose of some, especially if you travel a lot, by entering this information daily, you’re less likely to forget any and you’ll have a better recall of the reason for the expense. It could also help you gain an idea of how much you’re spending on travel and if there are ways to consolidate some trips or make trips more affordable or more productive. This daily view gives you a better overview of your business.

Doing all of this helps avoid inaccurate bookkeeping, which can make life difficult when it’s time to file. It also helps to meet with a tax expert like The Gonzales Group, a San Antonio TX CPA. Our experience and knowledge can help you further finesse your accounting to find any benefits available to you, help you with retirement plan usage, tax credits, overall business plan, and so much more. Contact us today to see how you can further improve your accounting to make tax time much easier and maybe less costly.

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This post was written by Gonzales Group CPA


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