Tips for Simplifying Tax Preparation using Quickbooks

🎯 Start Early

If you begin to assemble and organize everything you’re going to need in February, even if you’re not planning to file until the last minute, you won’t experience that last-minute panic that occurs when your appointment is in an hour and you realize you haven’t gone through your bank statements to find every last expense.

🎯 Check if there have been any significant changes in the company's financial situation. You may not consider them significant, but they may make you eligible for tax credits that you don’t know about.


🎯 Make sure you have all the necessary information, don't just expect to claim deductions without having the necessary information.

🎯 Do use QuickBooks to track income and expenses thoroughly.

🎯 Don't assume that QuickBooks can prepare you completely for tax preparation. Learn what it can and can’t do.

🎯 Take regular backups to avoid unexpected problems.

🎯 Always lock a particular period as anyone can mess with the numbers.

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