Accounting in HarrowApril 13, 2017
Did you know that April is officially Stress Awareness Month? During this time, health experts take the time to increase public awareness for the causes and cures for our modern stress epidemic.
At Liberty Williams, we understand the stress that can be caused by financial matters, especially the dreaded three-letter word that is tax. To help raise awareness ourselves we thought we would put together some small organisation tips that will make tax less taxing.
- Organisation when thinking about your taxes is key. Start by creating a paper folder or electronic folder, but if you want to you could have both, after all you can never be too organised! Start this at the beginning of the year so you can keep track of your documents and the date each one was received. A popular way of saving receipts is using Evernote, its perfect for storing your tax receipts and documents that you might need.
- Use last year’s tax return as a guideline for the upcoming year. Having a scanned copy to use as a reference will always come in handy. You can also use it to help you create a tax template.
- Prepare yourself before going to see your accountant. Use your tax template to create categories, keeping it simple and easy to plan. As and when you receive invoices, receipts and any other tax documents, record them, check each item off and move on to the next. By using this system, you won’t miss anything out and it will keep your stress levels to a minimum.
- Start next year’s taxes today! Don’t let everything pile up on your desk, record your expenses as they come and make sure by the time you need to arrange to see your accountant you have everything at the ready,
It’s simple! We have enough things in our life to stress about without having to add accounts and your tax return to the list. Use our tips to keep yourself organised and your stress levels as low as humanly possible.
At Liberty Williams we don’t believe in simply helping you to produce a set of accounts, instead we wish to add value to your business and help to advise you in your future. For more information about our accounting services, call us today and speak to one of our accounting experts.