Taxes are always an unpleasant reality for any individual. When tax season comes around, keeping track of paperwork, payments and avoiding penalties can be a real doozy. Many individuals and small business owners caught up in the busyness of everyday life took advantage of tax extensions this year. Filing for an extension allows for the opportunity to postpone filing for a tax return even after the deadline of April 18. There are two deadlines for C-Corporations, March 15 is the deadline to apply for an automatic 6-month extension, and September 15 is the new deadline for filing taxes for the 6-month extension.
For those who were approved and had some breathing room, time to hold your breath again because the tax extension deadlines to file for your return are coming up fast. October 17 is the final deadline to file completed tax return forms.
Don't Let Tax Extension Deadlines Get the Best of You
With the extension deadlines approaching, August to October can be a stressful time. It can be easy to let the season get the best of you, but with the right information and careful planning, this season can actually be a breeze.
For those filing for a personal tax return, numerous online services are available that make filling in your information simple and quick. Filing for a small business tax return becomes a little more complicated when it comes down to the different forms that need to be filled out.
One of the best things to do is hire an outsourced accountant to help you through the process if you are a small business owner. A good outsourced accountant will ensure that their customer’s books are accurate and up to date, so during this busy and stressful tax period when the tax accountant needs the data, it’s all ready to go. Working with an outside CPA firm during this busy tax season can be very stressful for businesses. During this time period, when the CPA firms are cranking through taxes, they are more likely to be unresponsive to their clients, which can result in clients feeling stressed and unheard. With a good outsourced accountant, no last minute calls about or for tax returns are required for businesses, because they know their data is already up to date and ready to go.
Why You Should Be Outsourcing Your Accounting
Outsourcing is beneficial for the business that does not have its own accounting department or does but hasn’t been getting the desired results. Let your outsourced accountant carry some of the burden as they organize what you need to file for your taxes. They will help collect and process records, find the forms specific to your business, and will guarantee things are filled out properly.
Whether your business functions as an agency, specializes in eCommerce, or is in the software industry, a variety of services are offered to assist in meeting the final tax extension deadlines.
Hiring an outsourced accountant may seem like spending extra money, but investing in a stress-relieving solution, especially around and during tax time, will be money well spent. Not only does having a professional take care of the details save you from potential mistakes on your return, but by hiring an outsourced accountant, you have more time to focus on the day-to-day demands of owning a business. Having peace of mind and knowing that your data will always be up to date and ready to go, no matter the tax season, is well worth it.