As the end of the year rapidly approaches, this also means the end of the 4th quarter for business owners. While this is a time of year for many to celebrate and enjoy the holidays, business owners may often be feeling a bit overwhelmed. If you are worrying about being prepared for filing tax in the new year consider getting letting one of the many Philadelphia cpa services assist you. No matter how big or small your business may be having a 2nd st of eyes go over your books can make the world of difference. Not to mention, potentially be able to save you a great deal of money as well. Before meeting with your Philadelphia income tax services representative for the first time take the time to be prepared and have the following things with you
? Copy of Sales- Have a yearly printed out statement available if possible. If not have a copy of your accounting software that you use showing the last 12 months of sales. This report should include all sales as well as returns if that is applicable to your business
? Receipts- Have you purchased new office equipment in the past year? Did you need to replace your computer? How about business lunches? When in doubt bring the receipts in question with you. Your Philadelphia CPA will be able to let you know if it can be used as way to save a little on your income taxes.
? Copy of last year tax's return- Even if you have used the same Philadelphia income tax service company for the last copy of years, it is always advised to bring this with you. If you have to file out more than form or have multiple businesses, be sure to bring that all as well.
? Employee Wages- If you have employee's that work for you make sure that the records are up to date. Bring all pertinent information with you. This can include copy of the individuals tax forms as well as the year to date wages they have received. If there has been any workers compensation issues the past year, be sure to bring all supporting documentation.
? Itemize Business Equipment- This may be helpful in some tax cases. Have a list of all office equipment to see if they may qualify for deprecation values on your return. This is something that only your Philadelphia CPA can answer for you.
? Anything related to business- There are many ways that a CPA can help ensure that your taxes are done right. They will be able to show you ways that you can save so bring anything that may be related your business. Do you have a company car? Company cell phone? Any business related transactions may help you save a little on your taxes.
Taxes can be a living nightmare for some. Trying to learn all the tax laws is often complicated and the best way to ensure that everything is done proper is to have a professional do it for you. Never take the chance when it comes to your company's well being and financial future.
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