There is alot of celebrating when the ‘new year‘ rolls in. That celebrating often distracts us. The next thing you know, it is the end of January. Time goes fast and life is simply busy. Before too much time passes, it is important to have a process in place for capturing expenses and monies that pass thru and into your checking and other accounts. Did you know, good records save money!
Most individuals and business owners know they must file tax returns annually. They even have a good sense about what is a tax deduction and what is includable in income. The collection of information throughout the year is what is often missing or at least incomplete.
Missing information is the most common hold up in tax preparation and completing tax returns accurately. Missing receipts and other relevant documentation can cost you tax dollars and increased filing fees if you have a tax preparer or accountant.
Welcome to Accounting Pros Michigan your one-stop, everything accounting and tax, shop located in Farmington Hills, Michigan. With 20 years experience and the knowledge required to create good records, your tax returns will be prepared accurately and filed timely.
The office is centrally located in Farmington Hills, Michigan. This enables easy access from all of the cities and communities in southeastern Michigan, such as:
- Downriver i.e. Allen Park, Taylor, Trenton and Wyandotte
- Dearborn, Redford, Plymouth and Southfield
- Livonia, Farmington, Novi and Northville
Schedule a complementary consultation. There is no cost and no obligation. You will meet with an accounting and tax professional who is not only qualified to assist you but who is customer service oriented. Call 313-318-9444 or send a message through the blog site at www.accountingprosmichigan.com.
What types of information should You accumulate?
The following is some of the minimum information you should start collecting immediately and throughout the new year:
- Bank statements
- Investment information and statements
- IRA and retirement plan information
- Medical, charitable contribution, and tax receipts
- Prior year tax refund and estimated payment information
- Exemption detail i.e. cost of support…
- Professional dues
- Education expenses
This listing is not complete. It is a good start, however. With your conscious effort to accumulate income and expense paperwork, filing your tax returns accurately and timely is almost certain. In the end, good records save money.
Start the year off right. Have a clear and simple process for accumulating information that will be used to develop the records needed to file complete and accurate tax filings. Contact Accounting Pros Michigan today at 313-318-9444 for guidance that will ensure you get the records needed to save tax dollars and filing fees.