It is time to think about tax planning! I know it is such a yummy subject for everyone but I’m keeping it real! Tax season might not be for months, but it is time to start your end-of-year planning.
TAX TIME TIPS
There are some strategic things you can do RIGHT NOW to make your life so much easier as you head into first quarter of next year. We ALWAYS think we have plenty of time…until we don’t.
- Organize that pile of receipts! Pull them out of the drawer, glove box, bottomless bag, or box. Organize them by month and put each month into a manila envelope. Make them easier to find so you aren’t scrambling when you accountant is asking you about them!
- Start categorizing your expenses by month. You might already use an online accounting software like Quickbooks or Zero where you can download your bank statements and easily categorize. You might have been doing that, but haven’t even thought about massaging your categories or reconciling your statements. If you are manual, make sure you are caught up through the end of October before the holidays hit and you go into survival mode!
- If you don’t have an accountant, or you think you need a bookkeeper, start interviewing now. They will probably snarf soda out their noses if you ask for help in March.
There is nothing as satisfying as putting a pretty bow on the year and delivering it to your accountant in January. That gives you the extra time you need to go deep on your Marketing Strategy for 2022 (which we will talk about soon!)
Janie founded 4-Legged Kids, Inc in St. Louis, Missouri, in 1997 and provides education through her PetBizHIVE podcast and her PetBizMBA membership and courses. She is a Certified Professional Animal Care Operator, Fear Free certified and a Certified Professional Pet Sitter. Learn more about the Founder, Janie Budnick.