August 5, 2021 | Taxgoddess.com

602-357-3275 info@taxgoddess.com Mon - Fri: 8am - 3pm (AZ)

TG in media copy

Tax Goddess in the media

An infographic showing the "SBA Compliance Timeline" for EIDL: 180 days for the Resolution (P-022), 12 months for Hazard Insurance, and ongoing record-keeping requirements.

Resolutions on the EIDL must be sent to them within 180 days!!

5tt-newsletter-week-1-832021Download

money 2696228 1920

How business owners can take advantage of tax planning to save

5tt-newsletter-week-4-7272021Download

we did it

WE DID IT AGAIN! Our client is paying ZERO% tax now!

we did it againDownload

download transactions / input by hand as needed
categorize the transactions
reconcile & balance the accounts (bank, credit cards, loans)
input all payroll information
reconcile payroll accounts, payments, withheld taxes, etc.
review client monthly correspondence for outstanding items / other questions
review client draw account for business expenses
review business expenses for client draws
allocate meals properly between deductible / non-deductible portions
allocate all items to “classes” if function use in the files
allocate all items to various states if multi-state entity
split other tax specific items (depreciation, amortization, interest, accruals, etc.)
compare to previous month in last year for issues
compare to previous month in current year for issues
review for tax changes needed (raise wages, decrease wages)
review for new asset purchases & properly classify
prepare internal workpapers for audit backup if ever necessary
prepare sales tax & file (if applicable)
review need for 1099’s / w-9’s from contractors – request from client
review against overall tax projections (if applicable) to ensure we are “on track”
Analyze any “over arching” issues (audit flags, etc)
review by senior bookkeeper
review by CPA
send final “all OK” or “need changes” email to client.