Tax season is right around the corner, and for small business owners, it’s a great time to ensure your finances are in order. Staying organized not only simplifies the filing process but also helps you maximize deductions and avoid costly mistakes.
At AKtax, we’re here to help you navigate this busy season with ease. With tools like TaxDome, we make managing your documents and staying compliant more convenient than ever.
Here’s how to get ready for tax season—and how we can support you every step of the way.
1. Get Your Financial Records in Order
Start by organizing all your financial data from the past year. This includes:
- Bank and credit card reconciliations: Make sure your transactions match your statements.
- Receipts and invoices: Organize these by month or category for easier reference.
- Profit and loss statements: Ensure your records are accurate and ready for review.
As an AKtax client, you’ll be able to upload and securely store these documents in one place, making it easy to track and share them with us for tax preparation.
2. Don’t Miss the FinCEN BOI Report Deadline
This year, an important compliance requirement is the FinCEN Beneficial Ownership Information (BOI) report, which is due by January 1, 2025.
This report is required for most small businesses and provides the government with information about the individuals who own or control your business.
If you’re not sure how to file or whether your business qualifies, don’t stress. Reach out to us for support—we’ll guide you through the process to ensure compliance.
3. Use TaxDome to Stay Organized
Our team uses TaxDome to simplify tax preparation and communication with our clients. This powerful platform allows you to:
- Upload documents securely: No more shuffling through papers—just upload your files directly to your account.
- Track your progress: Stay on top of pending tasks and deadlines.
- Communicate efficiently: You can send us messages, ask questions, or share updates with us.
This system makes it easy to stay organized and ensures a smoother experience for you. If you’re not sure how to get started using the client portal, we’re happy to walk you through it.
4. Issue 1099s and W-2s on Time
If you hired independent contractors or have employees, make sure you:
- Verify contractor information using W-9 forms.
- Prepare and send W-2s to employees.
- File these forms with the IRS and distribute copies to recipients by January 31.
We can help ensure your 1099s and W-2s are accurate and submitted on time.
5. Reach Out for Year-End Support
The end of the year is a great time to meet with us to review your finances and finalize your tax preparation plan. Our team is here to:
- Identify opportunities for deductions and credits.
- Provide guidance on estimated tax payments.
- Ensure all your documents are ready for filing.
Let’s Make Tax Season Stress-Free
Getting organized now can save you time, money, and stress later. With our expert support, you don’t have to tackle tax season alone.
If you need help getting started or have questions about the FinCEN BOI report, bookkeeping, or tax preparation, reach out to us today. Let’s work together to make this tax season your smoothest one yet!
Contact us now to schedule your year-end review or learn more about how we can help you.