by VentureStreet  Join Our Network
Keep Your Tax Bill As Low As Possible
By Deltrease Hart-Anderson



Here are five way to lower your tax bill regardless to what you are in your business.

* Contact your accountant before you make major purchases. After the fact may be too late to save you or your company money.

* Consider your accountant as a partner in your firm. Ask him or her to send you accounting and tax tips from time to time based new and upcoming tax law changes.
Take the opportunity to read it and ask questions about anything of interest to you.

* Keep good records. Use the KISS method. If you don't know what this method is, then you are going about it all wrong. You don't necessarily need a big accounting software program if you don't have a lot of transactions every month. (By the way, KISS is Keep It Simple Stupid. I say this as affectionately as I can.)

* Keep your accountant in the loop. Let them know when you receive IRS notices or any other correspondences that impact you financially. In most cases, a short e-mail or phone call could save you a lot of money and headaches.

* Don't look at your financial statements as something you only need to get a loan with the bank. You should know the financial position of your company at all times. Large companies review financial statements on a weekly (sometimes semi-weekly) basis. You should look at your financials at least bi-weekly.



Need help preparing your taxes?
Find Local Tax Preparation Professionals
Other articles you may like:
Tax Tips: How to Record Your Mileage for the Year
Provides tips on how to record mileage for the year. This will eventually save the...

Attention CPA's
New IRS Form 1099-k Requirements. I can Educate your clients on your behalf and show...

Tax Relief Job Creation Act of 2010 - 100% Bonus Depreciation
Congress has approved, and President Obama is expected to quickly sign, a multi-billion...

Ten Facts About Amended Tax Returns
You can make a change or an adjustment to a tax return you’ve already filed by filing an...

It's not what you earn, it's what you get to keep!
Using the tax code in your favor, to reduce your tax burden.

Be the first to find this article helpful.
Need help preparing your taxes?
About the Author

Deltrease Hart-Anderson, D. Hart Accounting Practitioner, LLC
2243 Leaphart Road Unit E
West Columbia, SC 29169
803-739-9449

If you would like to re-print this article, please contact the author.
Other articles you may like:
5 Things to Consider when Starting a New (Small) Business
Get some tips and advice on the 5 things to consider when starting a new (small) business.

Payroll Solutions - We Are Payroll Made Easy
We can provide a cost effective solution for any employee size business.

Why Businesses for Sale Don't Sell
The five main reasons businesses do not sell.

Preparing Your Business for Sale
A quick overview for a business owner who may be considering selling their business.

Creative Tax Deductions
Creative but legal ways to get deductions on this year's filing.

Editorial Disclaimer: The views expressed in articles published on this website are those of the authors alone. They do not represent the views or opinions of this website or its staff. The articles on this site do not constitute a recommendation or endorsement with respect to any views, company, or product. Authors affirm that article submissions are their original content or that they have permission to reproduce.

Home   |   Articles & Videos   |   Affiliates   |   Networking Groups   |   Search by Category   |   Professionals

Terms of Use   |   Privacy   |   About Us   |   Contact Us   |   Member Login

© 2003-2014 - VentureStreet, LLC

Join Our Business Network