How Can Accountix Help You With Your 2023 Tax Preparation?

Filing taxes can be a cumbersome chore that a business owner has to manage every year. However, with the right help, it does not have to be a responsibility that you navigate alone. Some people outsource the project to prepare the information for their taxes to their CPAs. Others do it themselves…but our clients have us in their corner.

So, how can Accountix help prepare you and your company for year-end needs and the upcoming tax season? That’s a great question!

While every year may be slightly different and additional verifications and reviews are required, we work to include this into the support you have come to expect from us on a regular basis. Accountix will provide the following services after the end of your Fiscal Year:

CPA and Tax Return Support

• Preparing and completing the Accountix year-end checklist to reduce errors and verify your Balance Sheet as well as your Income and Expenses (P&L).
• Connecting with you to review the year and make sure you have accurate and thorough books/information that is ready to be sent to your CPA. 
• Compile and send a “CPA Package” that includes your fully reconciled accounting file, payroll, bank statements, supporting ledgers, etc.
• Using technology to securely and quickly share other information requested with your CPA along with any documents requested that we have on hand to ease their review, increase accuracy and simplify tax return preparation.
• Coordinate accounting questions and interact directly with your CPA
• We record all of the entries for you into your accounting system so that you do not need to do additional work. 

Balance Sheet & P&L Support 

We assist with reconciliation, calculations, and journal entries for assets, liabilities, and equity to ensure accuracy. This can include inventory adjustments, gift card allowances, and more.

Fixed Assets are another business expense that needs to be reviewed. Accountix will attempt to identify fixed asset purchases with your help throughout the year (although your CPA will need to finalize asset identification and depreciation schedules).

1099 Reporting and Filing

Options are provided in Q4 of each year for you to choose a package that best fits your situation each year. Options may include basic research and identification all the way up to full-service options where Accountix manages the process around obtaining W9s, as well as filing and mailing all 1099s.

Reliability with Deadlines

Arguably the most important element of tax preparation is knowing that your team is reliable and committed to a timely and accurate completion.

Our goal is to complete these reviews 30-60 days after your Fiscal Year-End. This allows you and your CPA to have control around when to file. Assuming we have your timely assistance and gather the requested information quickly, our clients do not have to file extensions unless they want to. We can even accommodate expedited preparation on a case-by-case basis.

The Bottom Line

In the end, preparing for tax season can be a tedious process, but with Accountix, your taxes can be stress-free. Our Annual and Year-End support is included as part of your service package, so you don’t have to worry about not meeting deadlines. We’ve helped our clients prepare for tax season since 2015. Our experience and expertise mean that you can trust us with your business needs, no matter how complex they may be.