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Small Business Tax TipsMonday 02/13/2012
DwayneDwayne Briscoe / Bookkeeping-Results, LLC
Owner / QuickBook Pro Advisor

888-692-2083 / 713-898-1648

www.bookkeeping-results.com
Small Business Tax Tips

With 2011 winding down, it’s important to hang onto all of the tax information that comes in the mail to you.  Even though your return is not due until March 15th or April 17th this year for your 2011 return, review the following items to make sure the filing is as smooth as possible.

 

1. Record keeping. Do not wait until April 16th to get your records together, because no professional in their right mind will be able to help you get filed by midnight on the 17th.  It just isn’t going to happen.

 

2. Do not throw your mail away unless you’re sure what it is. All of your tax forms including W2s, 1099s, 1099 INTs, etc. are going to be bombarding your mail in January and February, so unless you know it’s junk, don’t throw it out without opening up the envelope.  Yes I have a client that has a bad habit of throwing everything on a shelf and not even opening it, which makes my life much easier, wouldn’t you think?

 

3. Have a question? Contact the IRS or a professional preparer.  If you have complicated business issues, don’t try to do it yourself.  Pay a professional.

 

4. E-file your IRS return. In 2011, 79 percent of taxpayers - 106 million people - used IRS e-file. Many tax preparers are now required to use e-file. If you owe taxes, you have payment options to file immediately and pay by the tax deadline. Best of all, the IRS issues refunds to 98 percent of electronic filers by direct deposit within 14 days, if there are no problems, and some may be issued in as few as 10 days.

 

5. Visit the official IRS website often The IRS website at www.irs.gov is an extremely helpful tool to find everything you need when filing your tax return: forms, publications, tips, answers to frequently asked questions and updates on tax law changes.

 

6. Review! Review! Review! Don’t rush and don’t sign ANYTHING without reviewing it. We all make mistakes when we rush. Mistakes slow down the processing of your return. Be sure to double check all the Social Security numbers and math calculations on your return as these are the most common errors. Your tax preparer is human too, so always ask questions if you’re not sure of something and ask them to spend a few minutes going over it with you too.

 

 

 

About Our Show Advisor: Dwayne Briscoe is the founder and owner of Bookkeeping-Results, LLC.   Dwayne began his company in January 2007, based on the foundation to educate small business owners and bookkeepers who use QuickBooks®.  Working as a full-charge bookkeeper and trainer in a variety of industries for over 15+ years, he is a certified Pro Advisor with 5 certifications, including Enterprise Solutions and Point of Sale.  He is also an instructor at Brazosport College in Lake Jackson, where he teaches basic accounting, QuickBooks®, and basic payroll, along with hosting his own private classes.

 

Bookkeeping-Results, LLC has focused more on quality and not quantity for their clients, by paying attention to the details.  Through regular continuing education participation, as well as exploring additional ways of “thinking outside of the box” to help expand people’s knowledge of their own financial well being, it’s important to focus on not only saving the client money but also making the client money.

Previously broadcast from:
SKL @ BlogTalkRadio.com 11/07/2011 - 01/03/2014
CBS Radio's Talk 650 10/12/2009 - 07/01/2011
CNN 650 Radio News 11/08/2006 - 10/08/2009
KSEV AM700 04/04/2005 - 10/30/2006

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