Now is the Time! (Year End Accounting)

 Now is the time to start getting your year end tax work ready for the accountant.

Of course some materials will not arrive until January, and some information cannot be processed until after December 31st.

But now is the time to double check your bookkeeping procedures, schedule the work necessary to do year end payroll, payroll taxes and payroll forms, and to look for weaknesses in the accounting system or inadequacies in your staff.

If you have any questions about your relationship with your accountant - as regards accounting or tax, now is the time to clarify the relationship. Busy season is so named for a reason.

NOTE!

New rules apply to 1099 electronic filing, and these rules will impact many small businesses. Check with your accountant.

My Accountant Just Raised My Tax Return Fee

So your accountant just sent you a letter with a X% increase for your tax service.

What? Why?

Higher labor costs. There is a shortage of qualified accountants.

Higher technology costs. Needs more and better technology.

Higher insurance costs. More risk.

So that is why your accountant is raising fees.

Fired by Your Accountant?

 Accountants are having a tough time, especially in the tax work space.

More rules, more clients, sloppier bookkeeping, expensive technology, expensive staff, shortages of qualified staff, and the IRS which has been crippled over two decades by inadequate budgets.

And when clients take bad tax advice (especially from social media) guess who gets to clean up the mess?

Tax accountants are responding by firing clients - the hassle is not worth the fees on really difficult clients.

If you get fired, take it to heart. What is the problem with working with you?

And if you do not pay your bill promptly, expect to get fired at some point. And you may have to prepay your returns.