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Year End Reporting and the Tax Man
March 11, 2015 @ 1:30 pm – 4:00 pm
With Mike Widdis – Upside Accounting
Come discuss the ins and outs of reviewing your year end, and how to prepare for the fun experience of filing your small business income tax return.
This workshop will cover:
- Reports you should be reviewing at year end and what to ask your bookkeeper for.
- Setting up budgets in QuickBooks and Simply Accounting so you can have a budget to actual report each month
- allowable business expenses
- how to report business income and expenses
- record keeping
- difference between being a sole proprietor versus corporation
- New family income splitting credit
- New increased child benefits & credits
- Watch out for the 3 most audited tax credits
- What to do if you receive a review letter in the mail
- How to work with a tax professional and save money
- Q & A