Top Five Accounting Errors Fixed by Accounting Professionals
In your small business, there are several details when it comes to taxes and proper filing procedures. When you’re busy focusing on your clients and customers, these details can become confusing or become forgotten. Instead of making mistakes with your taxes, trust the JTC accounting firm in Roswell, GA to help you prepare the right way.
Mistake #1: Subtraction Errors
When preparing your own tax return, pay attention to income, liability, and equity amounts. When performing subtraction, values subtracted incorrectly can lead to delays and even penalties. Here for you, the JTC accounting firm in Roswell, GA can help you get these numbers right. Together with our help, your small business can stay on track while we help you stay focused on your business goals.
Mistake #2: Misspelled Names
When writing the names of other people such as partners, shareholders, or officers, double check with your contact information on file. Spelling their name correctly will both boost your likelihood of receiving a refund quickly and avoid embarrassment in front of your business partners. This can also have an impact on your trust with others as you make sure to correctly include their information with others.
Spelling names with one extra letter or the wrong ending can further delay and increase charges with your business tax filing or setup. Specializing in tax preparation, the JTC accounting firm in Roswell, GA will help you by preparing your taxes with expertise and multiple reviews by our CPAs. This process helps to ensure the accuracy and completeness of your tax return, maximizing your tax deduction while limiting any potential delays.
Mistake #3: Incorrect Account Number
When preparing your business tax return, make sure to have an up-to-date copy of your financial statements and bank routing numbers. Take a picture, save the mail-in statement or print out a digital copy when writing your account number. Using the latest and most updated information will protect you from making simple mistakes that can become time-consuming and costly for you and your business.
Including your bank routing and account number can help reduce the time to receive your refund from the IRS. However, if you transpose a number it can cause delays in receiving a paper check, or worse, your refund is sent to the wrong account. Double checking your account information, the tax preparer specialists at the JTC accounting firm in Roswell, GA are ready to assist you in verifying your information, line by line.
Mistake #4: Wrong IRS Office
Preparing tax forms for your small business can be confusing. What’s more, there are clear-cut IRS offices to which you must submit your business tax return if filing by paper. The accounting professionals at the JTC accounting firm in Roswell, GA take the guesswork out of your tax return. They are up to date with the processes for compliance with paper filing. This also includes the specific location and address of the IRS office which is responsible for receiving your paper turn.
Mistake #5: Missed Deductions
Without a complete record of your organization’s bookkeeping, there may be possible deductions missed when filing your own business taxes. In addition to tax return preparation, the bookkeeping specialists with the JTC accounting firm in Roswell, GA are ready to assist your efforts. They complete your bookkeeping every month and make sure you stay on track for tax reductions.
Wrap Up
By now you’re ready to review, double and even triple-check your work. You don’t want to miss one letter and spend hours on the phone trying to track down your IRS, and neither do we. You can trust that the JTC accounting firm in Roswell, GA can provide you with expert services. Avoid the mistakes, pay full attention to your business and let JTC take care of your accounting needs.