Tax preparation 101 – Follow these rules for an amazing result

 

Not all taxpayers are organized with their papers and this may prevent a good outcome from the whole process, even if you hire the most skilful accountant out there. A shoebox of receipts will only make their duties difficult, and your life considerably harder. Below we have some tips and tricks that will help you and your accountant as well in order to have a pleasant experience while preparing your taxes.

Be a good client to your accountant

Most taxpayers are incredibly disorganized with their taxes, papers and receipts. Most accountants advise their clients to organize their taxes by year, in separate files, in order to make everybody’s life and jobs easier. It’s not their duty to arrange your papers. Do the same with the papers for tax return. Tax preparation is all about this. It could be a simple organizer, a plastic file, whatever you like. But don’t throw all the taxes in your accountant’s lap in March and expect to have everything in order by April. Keep in mind that when you place a shoebox filled with papers in your accountant’s face, they won’t be willing to collaborate with you. It’s common sense, and as much as you may be tempted to do so, try and organize your files as a professional. Unless you arrange certain terms with your accountant, which include paper organizing on their part, you can’t expect them to accept a job like this.

All paperwork should be given at once

Sending your paperwork to your accountant or tax preparer piece by piece isn’t advisable, claim the specialists at http://www.accountantsfullertonca.com. However, you can do this if you have all the paperwork except a piece or two. Simply inform your tax preparer and attach a note to your file. This will make them remember that you still have to send a small piece of evidence. If you don’t notify your accountant or tax preparer, they will lose important time trying to find it and this is just not something polite to do.

Communicate with your tax preparer throughout the year

If you don’t communicate with your tax preparer, and show up in march with last year’s financial activity, they can’t do much for you. In many cases, there appear issues throughout the year, issues with which a tax preparer might be able to help you solve. Because of this reason, constant communication with your tax preparer is always a great idea, and you should consider starting it right after your last taxes are ready to go.

Never sign new contracts without discussing with your tax preparer

This is a valuable piece of advice all tax preparers give to their clients. Before signing new contracts, discuss with them, because there might be some financial issues. They will be able to consult and point you in the right direction. If you ask your tax preparer to take a look at a contract which you already signed, there is no point in it. You’ve already signed it.

 

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