How to Use Experts to Manage your Taxes Better

Managing your taxes plays an important role in the financial health of your business. While it is possible to prepare and submit tax returns on your own, there are professional accountants who can handle the process on your behalf. Using experts to manage your taxes better will not only help to make for a responsible business but will also allow for the growth of the business. With the complex nature of tax laws, only a qualified expert will be able to handle the process in a professional manner. Once you hire an accountant to help in your finances, you should work together to improve how your taxes are managed.

Allow them to handle your accounting and bookkeeping

If you would like tax experts to help you in managing your finances, it would be important to hire them to handle your accounting and bookkeeping. In any business, numerous transactions take place. When the experts provide your business with accounting services, they will have information on your income. This will make it easy for them to monitor your income and ensure tax planning.

Let them submit your tax returns

Managing taxes will also involve submitting tax returns before the set deadlines and in the manner prescribed by the relevant tax laws. Tax experts have the knowledge and experience required to file tax returns without penalties and delays. By meeting all deadlines and ensuring accurate tax returns, you will be able to manage your taxes better. The experts will also handle any complex tax issues that arise in the course of the year.

Ask for financial advice

Without professional advice, small and medium sized businesses can make financial investment that would have a significant impact on tax obligations. Tax experts will offer guidance and advice on the most tax-efficient investments that businesses can undertake. By asking for personalized consultations with the experts, your business will be in a better position to eliminate surprises, save money and minimize tax exposure.

Hire employee payroll services

Handling the time consuming tasks relating to employee payroll on your own can lead to serious tax mistakes, or omissions. This is why you should hire professional employee payroll services. Some of the special packages your business will enjoy include payroll tax preparation and filing and knowledge of the relevant regulatory issues. Professional services will ensure better management of taxes as well as help your business to avoid unnecessary penalties.

Review financial statements regularly

Proper management of taxes starts with keeping accurate financial records. Experts in this field will process the financial information before providing you with financial statements. As you prepare and plan to submit your tax returns, reviewing the financial statements will also give you the facts you need to grow your business. You will also have someone to turn to when you receive a government notice. In the long run, you will have an organized business with well-managed taxes.

Other services

Apart from preparing and filing tax returns, you can manage your taxes better by asking the experts how you can save money from the process. The experts you hire will not only help you to understand your tax liability but also let you know if you are eligible for tax rebates and tax returns. Management of taxes in this way will save you money.

Once you are ready to take your business to the next level, you should hire a qualified accountant to manage your taxes. Padgett Business Services is an accounting firm that specializes in small and medium sized businesses. Kindly reach out to us to discuss how we can help you with your taxes.

About the Author: Gerald Hunt

After graduating from the University of Calgary with a Bachelor of Science degree in Computer Science, Gerald joined KPMG (Formerly Thorne Riddell) as a Computer Accounting Customer Service representative. In this position, Gerald installed accounting systems in over 200 different small to medium sized companies over a 6-year span. In 1989, Gerald left KPMG to continue working with small business clients in his own corporation, installing computer accounting systems. While in this role, the DeVry Institute of Technology in Calgary engaged him to teach various courses. In time, Gerald moved up through the ranks of DeVry until he attained the position of Director of Finance for the Calgary Campus. He also acquired his Masters of Business Administration from City University of Seattle, Washington in 2001. Gerald’s career has always been focused on small business, accounting, and education. Need accounting help? Visit Padgett Business Services, and book a free no-obligation one-hour consultation.

  

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TOSAVE Product Reviews

It is always enjoyable to write product reviews. Happily, bloggers like me -once in a while- might have the opportunity to get this interesting offer.  Last month TOSAVE, an online e-commerce company providing huge range of categories products contacted me for such cooperation. Suits the name; every product offered at matchless prices and delivered worldwide without added shipping cost.

The store gave me a chance to get free items that I like as valued $15 and then share my honest opinion about it.  Once I visited the store for the first time, I got overwhelmed with too many options. More than 10 million product ranges provided to you; can you imagine that? Fortunately I was in a search for a casual canvas backpack that time so I was able to focus on my shopping. Finally I chose three items and I was pleased with all of my choices.

After one month passed by, my package that came from China arrived (July 10th, 2017).  Wrapped securely in plastic bags, every item (a bag, a bathroom mat and a coaster) received in good condition.  So here below are my opinions on each item.

My chosen bag is this casual canvas backpack that looks girly and stylish.  

Are you also looking for a backpack for casual occasions?  Since bags also include your fashion statement, you should consider the style without neglecting other important factors such as functionality and suitability.

Material

The main material of the bag is canvas. I prefer to a canvas backpack as I will wear it for mostly outdoor activities. This fabric is light weight, durable and more water resistant. It can be washed once get dirty.

Unfortunately there is no care tag attached in the bag.

Color and Print 

Available in black, pink and blue but I opt for black that suits many outfits. 

Printed bags are trendy right now; the dot print looks cute, right?

So, this bag meets my needs: black can go well with any color of my clothes and the print makes it stylish.  Yeah, black color might cause too much contrast but the white dot print and brown suede embellishments really soften its dominance.

Wearing the backpack with style

Size

With approximate 16.5 inches long and 11.4 inches wide, the bag size is suitable. Not too small to carry my personal items which I usually place in my bag and also not too large for my petite body. 

Price

The price at TOSAVE is only $8.23. Once you see and wear the bag, you will agree with me. It is very affordable – certainly a good value of money. 

Straps and padding

The backpack has the right straps for some reasons:

-Wide and padded shoulder straps are made and sewn well onto the top of the bag as I feel they are comfy on my shoulders and back.

-I read in an article about good backpacks; the straps that appear like they were folded a little and form a curve will give better support. I see that though a bit!

-The adjustable shoulder straps. Unfortunately, those straps untie with use and I have to fix it frequently.

The padded back.

Perhaps it is not a real padding on the back part but when I load the bag with several items till almost occupy the whole interior space; the backpack doesn’t lose its figure against my back. 

Storage design

Like other classic backpacks, it has a front pocket, two side pockets, one pocket inside and a spacious interior that opened with full zipper. A full-zipper backpack will permit for easier placing and taking out big items.

It has no quick access pocket to the interior space so I put the items that often use in the front pocket such as my specs and mobile phone.

For me, this storage scheme is already good enough. I don’t need more slots and pockets anyway. I prefer to put small items like pens, cards, keys in a small purse or case separately then place the case inside the bag.

Conclusion:

I really recommend this backpack based on its good Value, Quality, and Price. From one to five stars as the highest scores, I give five stars on value and price, four stars on quality aspect.

Two other items are a wooden cup mat and a non-slip mat. I really like these items.

A wooden cup mat

-Available in five different sizes – you can collect them. I chose the size that suits hubby’s mug. It looks so good, right? Match with our table as well.

-Made from sliced natural wood. Nothing can beat the nature. What a wonderful circle pattern!

-The price is only $0.82 (diameter 8-10 cm).

-I give five stars (highest score) on Value, Quality and Price aspects. Must have product for nature lovers.

Non-slip mat

-Multi purpose: can be used in wet area and dry area.

-Microfibre memory foam inside the mat. It can absorb water, dirt and grime well.

-Non-slip backing for safety especially in bathroom.

-Very soft surface made from high quality coral velvet fabric.

-The color match with our blue walls and the bathroom door. Anyway, other colors are already sold out.

-Proper thickness. Both thickness and softness make my feet comfy.

-The price is just $4.37.  Good deal indeed. 

-Another perfect score. Five stars (highest score) on Value, Quality and Price aspects.

One more thing, if you are in a quest of high quality human hair extension products, SheInHair is a great place to go.

TOSAVE is one of the recommended ways to shop quality items without breaking your wallet. Happy shopping and saving!

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6 Tips for Effective Handling of Rented Property Maintenance

For a home owner renting out his property, one of the biggest and challenging problems faced is the maintenance of the rented property. The maintenance or repair costs can increase substantially when the rented property is old.

Effective handling of the rented property is very important if you do not want to lose your hard earned money. Below are some tips for handling maintenance issues efficiently.

6 Tips for Effective Handling of Rented Property Maintenance

v    Do not ignore the tenant’s complaints: It is always good to listen to your tenants complaints and understand the problems faced by them. By listening to the problem faced by the tenant, you can understand the real issue and find out a solution for it before it become worse.

v   Handover the responsibility of the rented property maintenance to a property management company: Maintaining your rented property and doing repair work whenever required is not a tiring process that can bring about a lot of stress and tension. If you are not someone who likes working under stress, it is good to hire the service of a professional property management company. By hiring a property management company, you can make sure your rented property is regularly inspected and proper maintenance is carried out on a regular basis. This will help you avoid costly maintenance and keep your tenants happy.

v      Create a regular maintenance plan: If you are managing your rented property on your own, it is good to create a regular maintenance plan so that you know what to do and when. By keeping a proper record of the maintenance, you can avoid unwanted expenses and keep your rented property in good condition.

v    Handle the maintenance based on its severity: Another way for effective handling of rented property maintenance is to create a severity level. By noting down common issues and assigning them a severity, you can efficiently handle each maintenance call. A maintenance call that is listed under the “urgent” category should be addressed now and then. Whereas, a maintenance call that comes under the category “low” can be addressed later. It is good to share the severity list with your tenants so that they are also aware of the high priority items and low priority items.

v       Skill set: Once you know the severity of the maintenance, the next step is to have the right skills for completing the work. As a landlord, you should know whom to contact for your maintenance work so that you don’t have to run around in the last minute. Even though calling a professional can be expensive, in the long run, it can save a lot of money. This is because a professional property maintenance person completes the work on time and ensures to do a high quality job compared to a non-skilled person.

v       Use good quality material: When doing repairs, it is important for the landlord to use good material so that your rented property will remain in good condition. If you don’t use the appropriate materials, it will impact the quality of your work and reduce the efficiency of your property.

Conclusion

If you need to get good returns on your property investment, you need to do regular maintenance. By following the tips discussed above, you can efficiently handle maintenance and keep your property in good condition. 

 

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