Every year, dealing with taxes can divert you from your customers or your day-to-day business. However, in addition to bookkeeping, there are a few ways to make your tax preparation quicker and smoother. To get ready for the upcoming tax season, follow these steps.

How Can You Make Tax Preparation Easier?

1. Keep Your Records All-Year Round

Great bookkeeping all year round is sure to make your life easier come tax season. Save all your paperwork in case of any audits or deduction claims to guarantee you’ll have all the data you need to file your taxes correctly. Additionally, tax credits and deductions change every year, so keeping your papers in one place will prepare you for any new requests. To make sure you follow this advice, dedicate a couple of hours every week to keeping your reporting and filing current.

2. Analyze Your Spending

With the invention of online banking, preserving a record of your spending became a lot easier. Most banks will provide you with a review of your credit card use from the previous year, and you can check all your bank transactions online. However, look out for distinctions between your personal and business expenses, since the IRS will carefully examine every personal expense that's wrongfully claimed as a business one.

3. Use Tax Software

While many business owners use basic spreadsheets, modern apps are much more powerful and intuitive. A dedicated tax program will assist you in keeping track of your income and expenses, and will keep everything up to date. This will ensure the math is correct, while also saving you time that you can spend improving your business.

If you want to automate your bookkeeping, turn to Expex in Latham, NY. Their accounting technology will help you track your expenses and revenue, perform bank reconciliations, and keep your financial accounting up to date. With automatic bill payments and mobile alerts, your tax return days will be easy and stress-free. Visit their website for more information about their services, or call them today at (518) 389-2305 to discuss your needs.