OK…I know what you are thinking. Why are we discussing taxes when this is the bookkeeping part of the newsletter? Actually they are very closely connected.
Many times someone comes to me to look for deductions they may have missed. The tax regulations have tens of thousands of deductions that may apply. I often will give clients a list of sample deductions that may apply to them. Neither of these are really great solutions because most of the possibilities do not apply to them and you have to actually have incurred the expense to deduct it. Also, it makes NO sense to incur a cost simply to obtain a tax deduction.
It makes a LOT more sense to be able to look at what you spent during the year and based on this, find out if something has previously slipped through the cracks. In the past, this is where we both did the best with what we could because your options were to summarize every individual amount you spent into tax categories or to pay me a lot of money to do this for you. We both knew that both of these were lousy alternatives!
Want to know how I figured out a way that you will never miss another tax deduction again at a very reasonable cost?
Here is the secret – using technology to do this inexpensively for you. We have developed new methodology to have your bank communicate to us your transactions and to train our system to code these for you!
For just a few dollars a day, the benefits are enormous. If you are a business owner, you get real time up to date information you can use to make better business decisions. If you are an individual you get information you can use not only to maximize your tax deductions, but to use to prepare a personal budget and to learn to save thousands of dollars a year!
The bottom line is that our experience has show that using this technology results in finding thousands of dollars of missing tax deductions at a cost that is just pennies on the dollar. Not to mention that you will no longer have to go through all of your statements and receipts at tax time and will eliminate a major headache and stressful time that many people have to do every year in order to get ready to file their tax return.
Ready to get started saving time, reducing stress and never missing another deduction again? We can help you!