2 Top Tips To Help You Better Track Your Expenses

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2 Top Tips To Help You Better Track Your Expenses
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• Expenses are a major part of most small business
  owners tax filing preparations each year, and you
  can never be organized enough when it comes to
  keeping track of them. If you spend hours
  searching through drawers, boxes, and cupboards
  for receipts, then you can be confident that your
  system requires updating. Fortunately, updating
  an ineffective expense tracking system is not
  difficult, its more about developing good habits
  and sticking to them throughout the year.
• No matter how disorganized you are, here are two
  handy tips to help you keep better track of your
  expenses

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• Put all your receipts into portable filing cases
• Dumping a box full of receipts onto your
  accountants desk and expecting them to spend
  their valuable time (and your hard-earned money)
  sorting through them all, is not the way to go
  and will create problems for both you and your
  accountant.
• Instead, as you get each receipt, pop it neatly
  into a portable filing case, and preferably, have
  a separate file for each month. That way your
  accountant can focus on getting you the most
  deductions and can do so in an orderly fashion.
  Essentially, you want to pay them for their tax
  expertise, not their sorting skills.

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• Be sure to label files clearly, so that not only
  are you certain of what each file contains, but
  your accountant will be, too.
• 2. Segregate your business and personal
  expenses
• Such a simple concept, yet one that so many
  taxpayers forget, or cannot be bothered, to do.
  One set of folders should be for your
  business-related expenses, and one should be for
  all personal expenses. There are a wide variety
  of suitable filing systems available on the
  market to help you store and organize your
  receipts, so finding one should not be an issue.

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• There are few excuses for keeping poor track of
  your expenses, and while you may occasionally
  forget to keep hold of a receipt, or forget to
  collect it from the cashier, once youve got it
  in your head that you need to keep them, most
  will be able to do it. Keeping them in an
  organized and orderly fashion is where most will
  slip up, but gradually it will become a habit,
  and when you see how much easier it makes life
  for your accountant, youll be further encouraged
  to be better organized.

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• At Heyer Associates, we proactively assist our
  individual and small business clients in meeting
  their goals. Our key area of focus is ensuring
  that our clients remain compliant with federal
  and state tax laws by providing them with high
  quality accounting and tax preparation service
  Coral Gables. If you are looking for tax
  preparation service in Miami , Heyer Associates
  would be a right option.