The Reason for the Season holiday artwork

The Reason for the Season

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‘TIS THE SEASON

The smells of turkey, cinnamon, and good cheer can distract us all from the reason for the season – tax preparation. The difficulties and distractions between Thanksgiving and Christmas can pull us away from taking the proper steps before January 1st and the 2018 tax filing.

BUT SERIOUSLY…

You may be thinking, “I just filed my taxes last month. Why do I need to think about it now? I’ll just wait until next October.” Well, here’s why it’s important to take some quick steps that will help you get some sleep and be able to better enjoy the holiday season:

  1. First, and most importantly, the tax codes have changed a lot in 2018. If you don’t plan for these changes, you could miss great opportunities to save money and you might end up giving the government more money than you should. It is important to be aware of these general changes and find the right expert to help you with this.
  2. The next vital step is to meet with your CPA or tax preparer. Your CPA is more than happy to meet with you, and to be honest, it would make their holiday season if you reached out to them to schedule a meeting. Your CPA is qualified to navigate and take advantage of all the tax law changes for your best benefit. If you are not convinced you need this meeting, then do it for your CPA. Consider it your holiday gift to them!

POTENTIAL CHALLENGES

At this point you might be facing a couple issues:

  • Your CPA might not be the right fit for you
  • Your books might not be in the right state to prepare for 2018 filing.

NEXT STEPS

If you’re not sure if your current CPA is the right fit for you, we would love to help you think through your current needs and offer a few options that might be a better fit for you and your industry. If you’re concerned about the state of your books, learn how Omega Accounting Solutions can help you.

If you’re unable to address these different items before December 31st, please reach out to us and we will schedule some time with you in January or February. Eventually, the government will require you to file and pay your taxes, and we want to help you be as prepared as you can be. Don’t be one of those business owners that misses out on tax savings, avoids their CPA, and lets their books go unattended. Act now! Reach out to your CPA, and make sure your financials are ready to go!