Professional Tax Advice
Tax advice
It takes knowledge and experience to maximize your efficiency and tax savings. With our tax advisors by your side, we can be very much involved in daily operations. Tax strategy and implementation depends on our regular interaction with you and your business.
Maximize efficiency and tax savings
We are very much involved in daily operations
We work virtually and with clients from all over the nation. You can even sign your tax documents from the convenience of your own home.
quarterly financials
Do not wait until tax time to organize and properly code your transactions. When a company waits until tax time to get organized, it is faced with a high volume of work, the risk of mistakes, and missed opportunities to plan a good tax strategy. Bookhouse Consulting offers year-round services with convenience and tax preparation in mind.
We offer year-round services with convenience and tax preparation in mind
Do not wait until tax time to get organized and properly code your transactions
No more filing extensions
Most businesses file extensions because they are not able to organize their financial statements prior to the filing date, they have not talked to their accountant throughout the year, or their accountant is just too busy during the spring season to get the work done. Bookhouse Consulting is committed to reconciling your financial statements regularly and preparing your tax returns on time.
Organize your financial statements prior to the filing date
Talk to your accountant and tax advisor throughout the year
Organization is key to prepare your tax returns on time
What Do I Need to File My Taxes?
What you need to file your taxes depends on your particular situation. For example, a tax preparation checklists for a college student, an employee, and an owner of a business are very different. The college student can file his or her tax return with form 1098-T, the employee with form W-2, and the business owner with the business’ financial statements. Regardless of your situation, we are here to help you with the forms and information you need to file your taxes.
Use the tax checklist below as a starting point to get you started…
Tax Preparation Checklist:
Personal information
Driver’s license or government identification
Social security card or ITIN information
Prior year’s taxes
Dependent(s) information
Government identification
Social security card or ITIN information
Form 8332 showing that you can claim the child in your taxes
sources of income
Employee: Forms W-2
Independent contractor: 1099-Misc
Self-employed: Financial statements for the business
Deductions
Home ownership: Form 1098 and property taxes
Health insurance: Form 1095-A
College student: Form 1098-T
The types of documents needed depend on you life situation. It is likely you won’t need all the records listed above. Reach out to us. We are here to help!
Tax Deductions That Benefit Small Businesses
Your expenses must be business related and must be what the IRS calls “ordinary and necessary.” This means that the expense is common in your industry, accepted in your line of work, and appropriate to do your job.
business expenses - schedule C
Advertising
Business cards
Fliers
Bank service charges (business accounts)
Car and truck expenses
Mileage (MileIQ)
Fuel
Oil
Repairs
Maintenance
Car Insurance
Interest
Charity
Contract labor (paid with 1099-Misc)
Depreciation and section 179
Work vehicle
Equipment
Education
Continuing education
University studies
Vocational certificates
Employee benefit programs
Equipment
Purchases
Maintenance
Repairs
Gear (Protective gear)
Government fees
Licenses
Permits
Taxes
Health Insurance
Home Office
Interest
Business loans
Business mortgage
Internet
Hosting
Service Provider
Website
Inventory
Labor costs
Employees (W-2)
Subcontractors (1099-MISC)
Legal and professional services
Accountant
Attorney
Business services
Consulting
Materials
Meals (for contractors and employees)
Miscellaneous Expenses
Uber platform fees
Lyft platform fees
Office equipment
Computer
Printer
Monitors
Peripherals
Postage and Delivery
Rent
Business property
Equipment
Vehicles
Repairs and Maintenance
Software
CRM
Google Gmail & G Suite
QuickBooks Accounting
Startup costs
Storage
Supplies
Telephone
Tools
Travel
Client meetings
Conferences
Team building retreats
Recruiting
Uniforms
Utilities (business related)
* Keep record of all of your receipts. If you are selected by the IRS for an audit, you must be able to document all business expenses. Your tax professional is not responsible for keeping record of your receipts.
* It is always best to request a copy of your financial statements, quarterly, to ensure that you are on target for success.
