Every year when you submit your taxes, you likely think something along the lines of – I hope this is not the year that I get audited. Individual returns and business returns can be audited by the IRS, but you should keep in mind some simple facts:
We all know that the deadline to file annual taxes is April 15th. It comes around each and every year along with, for many, a scramble at the last minute to prepare and file. Whether you are working on your personal income taxes or taxes for a business, tax planning is a huge part of tax preparation that can have a significant impact on the annual process. Tax planning requires that you take a step back from the push to meet the April 15th deadline and think about your income
We all know that as we turn the page to a new year, tax day is on the horizon. Pretty soon, by the end of January in fact, you will start getting tax documents in the mail….your W-2, 1099s, as well as other important documentation about retirement interest and investment income. As these electronic and paper documents begin to pile up, take a minute to start a file so that you put them all in one place and save yourself time when April rolls around. If you start a 2020 tax file
2020 has been a year like no other. The pandemic has impacted many businesses and many individuals have lost jobs as businesses closed their doors temporarily or longer. Individual and business finances are understandably up in the air as well. Now is also the time to think about the end of the tax year and to position yourself as strong as possible for your 2020 tax return.
Now that things are clearer regarding the election
Whether you are just starting your own business or trying to get a better handle of your existing business in MN, Havig Tax is here to help. We all know that tax preparation and filing is a large component to business success. However, that is only a small sliver of the end result. To make the most out of your business and ensure financial stability, let us talk with you about the importance of tax planning and consulting. We will look at your past records and advise you on deductions you may be missing out on and why.
