Five Tax Questions Your Should Ask Your Accountant

Tax Questions Business Deductions Deduct Accountant

Tax Questions for Your Accountant

Tax season can be a very stressful time for many reasons. In most cases, tax season is stressful for business owners because they lack the resources to pay back the money they owe, or because they don’t have their finances in order. Whatever the case may be, tax season should never have to be a stressful time for you or your business partners.

Here are five questions you should ask your accountant so that your stress can be minimized when tax time rolls around:

What Information Should I Hold?

Your accountant will need you to have all of your paperwork and receipts in order to be able to help you fill out your tax information. Making sure you hold on to all pertinent paperwork will ensure that you receive all of the deductions you qualify for.

What Expenses Can I Deduct?

Knowing what expenses you are able to deduct can help you with planning for tax filing every year. In most scenarios, you can deduct money that your business uses on services, office space, professional equipment and so much more.

How Do I Increase My Savings?

Believe it or not, buying certain items can help you save money. Working with your accountant can help you determine what these purchases are and how you can document them to ensure you get the savings you are eligible for.

What is the Difference between Employees & Independent Contractors?

It’s always important to know the difference between an employee and an independent contractor. This is important because it will help you to know not only how to fill out your business tax forms but it will help you when sending out end of year tax forms to either your employees or independent contractors.

How Do I Deduct Household Expenses?

If you are a work from home employee this will be a question which applies to you and your company. Knowing how to deduct household bills plays a key role in helping you save money during tax season. For example, do you have an office inside of your home that is exclusively used for working? That means you can deduct your electricity bill. Little tricks like these are what can save businesses hundreds or even thousands of dollars each year.

Image credit: Marco Verch

Redmond CPAAbout Redmond CPA

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!

  • Huddleston Tax Accountants / Huddleston Tax CPAs – Redmond, WA
    Certified Public Accountants Focused on Small Business
    8201 164th Ave NE Suite 200 / Redmond WA 98052
    425-483-6600

    Huddleston Tax CPAs & accountants provide tax preparation, tax planning, business coaching,
    QuickBooks consulting, bookkeeping, payroll, offer in compromise debt relief, and business valuation services for small business.

    We serve Tukwila, Auburn, Federal Way. We have a few meeting locations. If you are looking for a Redmond CPA firm, get in touch with us! Call to meet John C. Huddleston, J.D., LL.M., CPA, Lance Hulbert, CPA, Grace Lee-Choi, CPA, Jennifer Zhou, CPA, or Jessica Chisholm, CPA. Member WSCPA.