2016 Extension Filers, Now Is The Time To Catch Up On Your Books!

2016 Extension Filers, Now Is The Time To Catch Up On Your Books!

If you filed a tax extension back in the spring, time is running out to finish your 2016 taxes. As a quick reminder, the type of business you have determines your filing deadline:

  • September 15, 2017: This deadline applies to C-corporations, estates, multi-member LLCs, S-corporations, partnerships, and trusts
  • October 16, 2017: This deadline applies to independent contractors, personal income tax returns, single-member LLCs, and sole proprietorships

If you’re feeling overwhelmed about finishing your books, have you thought about bringing in a professional? Bookkeepers are experts at bringing your virtual shoebox of receipts, sales, and other transactions into glorious digital order. And, they’re quick and efficient, too.

When you bring in a professional bookkeeper, you can turn this upcoming deadline into opportunities for positive change. We’ve outlined a few ways how a bookkeeper might just become your saving grace.

1. Your time is valuable, and bookkeeping isn’t your specialty.

While bookkeeping isn’t necessarily rocket science, your time and energy may be better spent elsewhere. Maybe there are tasks that only you can do for your business. Or, you’d prefer to focus on your business’ technology, something creative, client relationships, or wherever your true passion lies. Get back to doing what you love – whether it’s your favorite part of the business, watching Game of Thrones, or enjoying quality time with your family. Once your bookkeeper is managing your books, you’ll wonder why you didn’t hand off this task sooner!

2. Stop missing out on business insights.

When you’re running a business, it’s often helpful to know in real-time where you stand financially. With cloud-based software tools (such as Xero and QuickBooks Online), a bookkeeper can transform your data into useful reports and actionable insights. For example, a bookkeeper can use your new reports to help you identify opportunities for optimizing your cash flow. Since you already have to get your books organized for your taxes, why not also put that same data to work to benefit your business?

3. Get ahead of the game for next year’s tax return!

Once you have a professional keeping your books in tip-top shape, guess what? You’ll be well ahead of the game when tax season rolls around next spring. You’ll also be in a better position to avoid having to file an extension next year. With that big task out of the way, you’ll be free to focus on your daily operations and new business opportunities.

Need help getting your books in order?

If you’re dreading the task of organizing your books so that you can finish your tax return, KeyRing Business Solutions can help. We’re a next-generation bookkeeping and accounting company focused on providing remote solutions to today’s small businesses. Since 2010, we’ve been using trusted cloud-based software, including Xero and QuickBooks Online, to organize our clients’ digital shoeboxes.

Learn more about how KeyRing Business Solutions can help you organize your books and get ready to check that tax return off your to-do list!

By | 2017-08-02T20:02:05+00:00 August 1st, 2017|Bookkeeping Benefits, Taxes|0 Comments

About the Author:

Heather began working in the bookkeeping/accounting field almost 20 years ago, beginning her career at an egg producer where, among other things, she tracked the useful lives of over one million chickens. Over the years, she has been a part of and learned from a wonderful variety of businesses. Through those experiences with corporations, small businesses, and “solopreneurs,” Heather has gained insight into the differing needs of these types of companies

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