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Can you believe we're already stepping into another year, and with it, another tax season, signaling it's time to gear up, get organized, and make this the easiest tax season yet?
In this episode, Mike welcomes us to a fresh year, 2024, and discusses the start of a new tax season. He emphasizes the importance of preparation and provides comprehensive tips for both business owners and individuals on navigating tax season effortlessly. Topics covered include the significance of gathering documents, understanding business versus personal returns, deadlines to mark on the calendar, and the necessity of bookkeeping. He outlines various tax forms and documents one should start collecting for businesses and on a personal level.
[00:00 - 03:51] Wrapping Up 2023
- Mike shares the importance of gathering documents such as receipts, bank statements, and sales.
- What is the difference between business and personal tax returns?
[03:51- 14:19] The Role of Bookkeeping in Tax Preparation
- The Importance of Gathering and Organizing Documents
- Understanding the Personal Side of Tax Preparation
[14:19 - 21:08] Important Tax Filing Due Dates
- January 16, 2024
- January 31, 2024
- March 15, 2024
- April 15, 2024
Quotes:
"Bookkeeping is the backbone to your business and provides so many benefits throughout the year.” - Mike Jesowshek, CPA
"The last thing that we want you to do is to keep pushing off this idea of bookkeeping." - Mike Jesowshek, CPA
"Our goal is to help make this tax season the one that is so easy for you... but it takes some work on your end. You need to put in some effort and you need to get some of these things done as soon as possible." - Mike Jesowshek, CPA
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Podcast Host: Mike Jesowshek, CPA - Founder and Host of Small Business Tax Savings Podcast
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Podcast Website: https://www.TaxSavingsPodcast.com
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Small Business Tax Savings Podcast