- Organize your finances and books. Gather receipts, categorize them, identify income streams, and be ready to answer questions about financial activity during the summer months, which span Q2 and Q3.
- Review income tax withholdings, for your business and personal finances.
- Pay your estimated taxes. Avoid costly penalties.
- Remember summer child care tax benefits. If you work from home, or need child care while your kids are out of school, make sure you hire help and look up the deduction.
- Hire a bookkeeper! Summer is a great time to start with an accountant or bookkeeper. They most likely have extra time to focus on your business and get caught up for the year. Don’t put it off until December-February. You might be hard-pressed to find someone that can help you in your last-minute crisis!
Call BookSmarts, we’re taking new clients starting in September! Don’t delay scheduling your assessment!