IT’S TAX TIME!!! Everyone’s favorite time of year, right? Um, maybe not so much. Unfortunately, everyone has to deal with it. What do they say? “In this world, nothing can be said to be certain except death and taxes.” (-Benjamin Franklin)
If you’re like many people, the thought of doing your taxes – or even just getting everything ready so someone else can do them for you – stresses you out at least a little. Most law firms have accountants who handle the filing of their corporate taxes. Wouldn’t it be easier to quickly print out a few reports and email them over to your CPA and let them take over rather than sifting through mounds of receipts and bank statements?
There are many different pieces to the financial puzzle when it’s time to file your firm’s taxes. Your accountant will probably want copies of your year end and January bank statement and reconciliation. You will need your basic financial statements like your balance sheet and income statement as well as a working trial balance as of the year-end. Your CPA will want every “i” dotted and “t” crossed when it comes to your firm’s finances.
Perfect Practice takes the craziness of tax season and makes it easier to handle. For the ease of compiling information, Perfect Practice has all the necessary reports that you can generate to send over to your CPA. With a few clicks of your mouse, you will have your balance sheet, income statement (profit/loss statement), and cash flow statement. You can print your General Ledger detail for the year. There is basically a report for all of the financial activity that went through your firm right at your fingertips.
So, while getting together your financial information is necessary in order to file a prompt and accurate return, you don’t need to run around pulling shoe boxes out of closets to find all of your firm’s pertinent information to turn over to your accountant. Let Perfect Practice take the driver’s seat and provide you with the ability to keep track of and compile your financial reports and allow you to breath easy when it comes to tax season. Happy filing!