While April 15th has come and gone, taxes are still top of mind for most of us which is why we’d like to provide you with a tax resource guide that you can look over to make sure next year’s tax preparation is a little less painful.
Proving You’re Legit.
There’s nothing worse than feeling less than legit because you don’t have a traditional 9–5 job, especially when you have to prove it to the IRS. Here’s a great article on what to do should an auditor come a-knockin’, and how to be prepared for any questions you may be asked. Blog.Ascendlive.com
Figuring Cost of Goods
In order to determine the cost of goods you have to value your inventory at both the beginning and end of the tax year. That means stop reading this, go count your stuff and then come back to the article. If you’re unsure where to go from there, check out this article from the IRS. Figuring Cost of Goods
I owed taxes, now what?
Thanks for asking! While it’s never fun to owe taxes, maybe it’s nice to know that the government wasn’t borrowing your money? Well if you’re still not convinced, here are Eight Tips for Taxpayers Who Owe Taxes.
We hope you find some help with these resources, and next year April 15th will be just another day for you!