Making it through tax season can feel like finishing a marathon. You’re tired, overwhelmed, and need a break. However, the work isn’t done after you file your business’s taxes. It’s crucial to use this time wisely and set yourself and the company up for success for the rest of the year. Your accountant may have already suggested a few action items, but, if not, this is a good place to start.

3 Post-Tax-Season Action Items for Your Business

1. Analyze Your Business Tax Preparation

As a business owner, meetings with an accountant should happen more frequently than once a year when it’s time to file taxes. Once the season is over, schedule an appointment to meet with them again and review what went well and what didn’t. They can make suggestions to ensure filing goes more smoothly (or just as well) next year.

2. Talk Strategy With Your Accountant

Don’t forget to ask about tax reduction strategies you can implement to reduce next year’s bill. The sooner you put these to work, the bigger the impact they’ll have on how much the company pays. 

3. Let Someone Else Handle the Payroll & Bookkeeping

It’s often hard for small business owners to justify the cost of outsourcing payroll and bookkeeping services, but don’t underestimate the amount of time and money this can save. Regardless of the size of the company, you will benefit from these services. A professional will ensure the records are accurate and free up your time so you can focus on growing your profits. Ask your accountant if they offer bookkeeping or payroll services or if they can refer you to someone who does.

The sooner you start preparing for the year ahead, the better next year’s tax season will be. Clark W. Terrell, CPA, an accountant in Crossett, AR, handles more business tax preparation. He also offers payroll and bookkeeping services, so he can handle all your company’s post-tax-season needs. Explore the services he offers online, or call (870) 364-5006 to schedule an initial consultation.