3 Reasons Investing in Professional Bookkeeping in Newport News VA is Better than Using the Shoebox Method...

Bookkeeping can be simplified if you are able to keep up with the modern methods of bookkeeping instead of a shoebox method. With the lack of security, lack of organization and loss of time the shoebox method is a receipt bomb ready to go off at a moment’s notice. These three reasons are given to convey why professional Bookkeeping in Newport News VA is better than the shoebox method. Lack of security With the shoebox method, there is a severe lack of security for all of your financial records. Instead of sitting behind a password locked computer, all of your money records are being pushed to the side in plain sight. The risks of holding your financials in an open area can be catastrophic if there is a fire or robbery. While someone may take your possessions, a benefit of professional bookkeeping is that there is always a backup. Loss of Time When tax season finally comes around you’re not going to be able to get all of your financials organized right then and there. The shoebox method might be easy during the rest of the year, come tax season you have to scramble to hunt down every scrap of paper. The solution is to find a professional, such as Carmines Robbins and Company PLC, to help you organize your financials. Lack of organization With shoebox accounting, you find yourself drowning in a sea of paperwork every tax season. Instead of taking the time month by month to organize, catch mistakes, and face the financial situations that are just wasting away in your shoebox you will ignore the problem until you can’t any longer. While finding a professional to handle your financials might seem costly or a waste of time the added benefits of...

4 Tips For Headache-Free Tax Preparation in Newport News VA...

When it comes time for the year’s tax preparation newport news va residents can gain a lot by being organized. Being prepared when filing your taxes can maximize your return, minimize costly mistakes and save you from problems in the future. Keep reading for some tips that will help you with your tax preparation newport news va. Have Necessary Documents Ready It’s essential that you have certain documents and information ready before you begin to prepare your taxes. According to the IRS, you will need your W-2 forms, last year’s tax return, your taxpayer ID number and the Social Security numbers of your spouse and dependents. If you’ve done any private contract work, you’ll also need an 1009 form. Also, be sure to bring along proof of any additional income such as social security benefits, rental income or unemployment payments. Seek Help If You Need It Although many people file their own taxes electronically, don’t hesitate to meet with a tax preparation professional if you’re confused or your tax situation is complicated. An accountant will know how to efficiently navigate tax complexities, and you will probably recoup their fees and then some by getting a bigger tax return. Keep Your Receipts All Year People often don’t realize all the tax credits that they may be eligible to receive. Be sure to save receipts and records all year long so you can take advantage if you qualify. You may get a tax credit if you’ve made any charitable donations or IRA contributions. You can also receive tax deductions if you’ve purchased tools or equipment for work, installed any energy-efficient appliances in your home or incurred certain moving, travel or medical expenses. There are many tax credits available; contact the IRS or a tax professional for...