Have you spent the last four months pouring over spreadsheets and trying to track down missing receipts? Did you vow that you’ll be more prepared for tax time? It’s not too late to start!
Handling your business books may be the last thing that you want to do, but procrastination will only make it worse. By changing a few key habits and taking some time for review, you can prevent a whole lot of stress later on.
Here’s how to get started:
Get a Good Record Keeping System in Place
A lot of small business owners struggle with taxes because they aren’t that organized. They rely on their memory to remember what those Office Depot receipts were for, or get the paper statements for their bank account and don’t categorize the purchases.