Everyone loves taking deductions on their business taxes. Everyone, that is, except the IRS. In a perfect world, you could deduct anything under the sun and have to pay no taxes at all! The reality, though, is that some deductions are safer than others. The IRS is only somewhat helpful in determining what can be deducted and what cannot. On the one hand, it’s a good move to build flexibility into their system. Not every industry or business has the same needs, after all, so trying to force them all into the same cookie-cutter shape is a bad move right from the start.

Did getting all your papers together for your accountant feel like frenetic chaos in the middle of a hurricane? Do you want to make next year’s tax season a gentle breeze? We get it. Many of our clients feel overwhelmed come tax season. Whether you’re grabbing random receipts stored in grocery bags, hunting for lost files, or even realizing your expensive accounting software hasn’t been updated in months… Getting ready to file your taxes can feel insurmountable.

The holiday season is a busy time of year for many of us, both at work and in our personal lives, but shortly after it will time to get your taxes prepared! We understand that getting ready for tax season is probably one of the last things on your mind right now but now is the time to take a look at your reports while you can still make some adjustments. The choices available will change based on your situation, so there’s no advice I can give that really applies to everyone. That said, here’s a rundown of some of the big variables that might affect your tax balance come April 15.