Early-Bird Prep Bookkeeping Tax Tips

5 Tax Tips for Early Bookkeeping Preparation

Earlier is better when it comes to working on your bookkeeping records.

The IRS encourages everyone to get a head start on bookkeeping tax preparation.

Not only do you avoid the last-minute rush, early filers also get a faster refund.

So, why not budget your time for bookkeeping the same way you do for running errands?  Most people do not realize that by spending ten minutes – Yes, only ten minutes a night on their bookkeeping, that they can be ready on time – Yes, even early – for their tax prep appointment with their accountant at the end of the year.

These are five easy ways to get a good jump on your bookkeeping for your taxes long before tax  deadlines roll around.

5  E A S Y  Bookkeeping Tax Tips:

1.  Gather Your Bookkeeping Records In Advance

  • Make sure you have all the records you need, including W-2’s and 1099’s.
  • Don’t forget to save a copy for your files.

2. Get The Right Forms

  • They’re available around the clock on IRS.gov in the Forms and Publications section.

3.  Take Your Time

  • Don’t forget to leave room for a coffee break when filling out your tax return.
  • Rushing can mean making a mistake — and that can be expensive!

4.  Double Check Your Math & Social Security Number

  • These are one of the most common errors on tax returns.
  • Taking care on these reduces your chances of hearing from the IRS.

5.  Get The Fastest Refund

  • When you file early, you get your refund faster.
  • Using e-filing with direct deposit gets you a refund in half the time as paper filing.
For more tax time bookkeeping tips, read this 9-pointer tax tip reference article & IRS tax guide!

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