<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=179609082436529&amp;ev=PageView&amp;noscript=1">

Author: A Team of Paro's Tax Experts


Recent Posts

Must-have Tax Preparation Checklist For Your Business

Hey! Corporate tax experts here telling you how to save your business time and money as you prepare for tax season. Seriously, please listen!

It's time to change your bad tax season habits

Every year, the same thing happens as tax season looms: we get a bunch of last minute, frantic clients freaking out about getting their taxes paid on time. They throw us every document they can find, get frustrated when we ask follow-up questions and request additional information (which they often don't have prepared), and end up filing late because they need a new bookkeeper and accountant to fix a multi-month (or sometimes multi-year) mess (not to mention paying out the wazoo for tight turnarounds).

We want to give you the tools to get ahead of this gigantic headache. This list represents the 13 most critical pieces of information you need to provide your tax preparer. If you know right now that you do not or will have some of these elements, talk to your finance team, understand why, and come up with a plan in the coming few weeks to get these items together.

Read More
Tags: Taxes

Tax Tips: What You Absolutely Need to File Your Business's Taxes

Wouldn't it be amazing if we could just press a taxes button and all our business's taxes would be filed instantaneously? We can all dream...

Tax terminology, expectations, and deadlines are overwhelming even for seasoned businesses. Federal and State tax codes are complex, and they change from year to year, which makes it difficult to keep up. This is why it is so important to have a tax accountant who stays up-to-date on current on tax laws and can provide sound guidance to help your company save money, eliminate penalties, and prevent audits.

So, what exactly do you need to have in order so that your tax preparer or accountant files your taxes in a timely manner? Read on.

Read More
Tags: Taxes

Tax Tips: How Your Business Structure Impacts Your Taxes

Before moving full steam ahead into tax season, it's important to understand how your company's legal structure can impact your taxes. Guidelines vary significantly, but here are a few to get you thinking. Visit IRS.gov for details related to your business structure or discuss with your accountant--they should have this under control. For more information on tax prep best practices, download our End-of-Year Tax Guide and Checklist.

Read More
Tags: Taxes

Tax Tips: How Your Business's Tax Process Should Work

Before you tackle taxes, get the right financial team in place

The strength of your company’s financial strategy begins at the top with executive management, but without a cohesive team of financial experts, cracks will begin to appear in foundation of your company’s financial practices. As you consider how to best structure your financial team, focus on the contributions of your bookkeeper, your accountant, and your payroll manager, as well as financial analysts and tax accountants.

Read More
Tags: Taxes

18 Tax Prep Best Practices for Your Business

Why is it that so many companies dread the end-of-year tax process? For many, it’s a scattered, painful, and overly time-consuming process: information isn’t organized in one central location and, often, companies aren’t quite sure what information they need to compile (no matter how many years they’ve been in business and paid taxes). Additionally, company leaders prioritize most other things over taxes so they push off anything tax-related until early March, not realizing they are missing crucial data that requires time and effort to compile.

Read More
Tags: Taxes