Little Fish Accounting + Keila Hill-Trawick
It's a time of year that creates stress for many businesses, especially freelancers and entrepreneurs - the approach of TAX SEASON. So, should you DIY or hire a professional?
Today's tax season #tuesdaytips are brought to you by Keila Hill-Trawick, founder of @littlefishaccounting. While DIY tax prep may be the right path for some, there are things Keila recommends to think about when weighing your options:
⏳How much time will you spend if you do your own taxes? Per the IRS, an average taxpayer spends 13 hours on DIY return prep. Is this the best use of your time?
💸 DIY tax prep doesn't automatically cover you for errors. Tax software is only as good as the info you input. If you need help or submit corrections, that's additional time + money you could have spent having a pro do it for you. ⠀⠀⠀⠀⠀⠀⠀⠀⠀
👩🏾💻 Taxes are complicated, and tax law changes throughout the year. A tax prep professional knows how to maximize your deductions and avoid penalties that you're probably not even aware of.
To read Keila's full post on this, visit https://www.littlefishaccounting.com/ + click on "News and Notes". Or book a consultation with @littlefishaccounting to talk about your specific tax + accounting needs! (link in her bio)
Want to learn even more about accounting for your business? Keila's also hosting a workshop @steadfastsupplydc on Sat., Feb 23: Accounting is Fundamental with Tax Prep Tips. ⠀⠀⠀⠀⠀⠀⠀⠀⠀
You'll learn foundational accounting and bookkeeping concepts, small business tax prep tips, and the importance of accurate financial reporting. Whether you've been in business for a while, or want to get your ducks in a row as a new entrepreneur, this workshop will help set you up for success. ⠀⠀⠀⠀⠀⠀⠀⠀⠀
Register through Keila's link in bio @littlefishaccounting - your ticket also gets you 10% off any same-day purchase from the fabulous Steadfast Supply store!
What stresses you out most about tax season? Or have you got a system down that works for you? Share with us in the comments!