Managing your accounts receivable is very important because the timing of receivables plays a major role in your company’s cash flow. In addition, you want to ensure your customer balances are accurate, and your receivables current, based on the terms of service you offered your customers. Reconciling the individual customer account balances with the general ledger balance establishes the accuracy of the balance sheet asset. Reconciliation of
Things don’t always work out the way they are supposed to, and when it comes to taxes, we have to make sure that we meet the deadline to file them and pay the necessary amounts due. Thankfully, there is extension filing for most taxes; however, they have to be filed before the due date in order for the extensions to be valid and granted.
Personal tax extension filing is a lot easier to get done than a corporation tax extension filing, for example. With the personal extension, you can use a tax estimating applet to get an approximation of the taxes you owe in order to pay it early with the extension. Business taxes however, is a lot more exhaustive and need a lot more technical know-how to file an extension that is accurate with the correct estimated tax due included.
This is where accurate bookkeeping topped with a knowledgeable professional come in handy. If your bookkeeping is not kept in order or compiled in such a way that important information can be easily obtained from it, doing your taxes or even filing an extension can become very overwhelming, especially if you had a lot of transactions throughout the tax year.
Call us at 718-809-0367 to set up an appointment so we can get you your tax extension, and have your taxes filed subsequently.