filing taxes

This week, Kelsey joins me to break down how to prepare for taxes throughout the year.  

As tax season is coming up, we see too many business owners scrambling to pay their taxes every year and it doesn’t have to be that way. Kelsey and I give you steps for how you can prepare with estimated tax payments from the start of each year and what to do if you’re not prepared to pay your taxes this year.  

In this episode, Kelsey and I also discuss: 

• What are estimated taxes and why you should pay them | 1:56 
• When are we required to start paying estimated taxes | 3:48 
• What happens if you don’t have the money to pay your taxes at the end of the year | 5:58 
• Action steps to take right now: Choosing the right method for you to make estimated tax payments | 7:28 
• Keeping up with your bookkeeping to prepare for taxes | 11:04 

 

Connect with Danielle:  

Website | https://www.kickstartaccountinginc.net/  

Facebook | https://www.facebook.com/kickstartaccountinginc/  

Instagram | https://www.instagram.com/kickstartaccounting   

Twitter | https://twitter.com/KickstartAcct  

 

There was a time in high school, and I totally deserved it, where I got sent to the principals office.

 

Luckily I learned from my mistake and didn’t repeat it. Getting in trouble with your teacher and/or the school is not something I wanted to do again.

 

As an adult, I would say the equivalent to this would be if I were in trouble with the IRS. No one wants to do something that will get them in hot water with the IRS.

Today I want to share 5 mistakes that you want to avoid when filing taxes.

 

03:33 Forgetting paperwork
07:11 Missing or incorrect information
09:02 Don’t wait until the last minute
11:27 Choosing the incorrect filing status
12:41 Missing a tax break

Resources:

Best Tax Software Programs

TurboTax Review: An Industry Standard for DIY Tax Prep

What Happens If You Don’t File Your Tax Return?

 

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What is a certified tax coach? “We help our clients keep more of what they make by lowering their tax liability through legal means,” describes our guest Craig Cody. He is a best selling author and certified tax coach that works in all 50 states with his average client saving over $20,000 a year in taxes. Filling out the forms properly is very different from planning your life to get the most back from completing those boxes. Listen to this short episode for all of the tax secrets you can’t miss!