Quick Tax Tips that Save You Time and Money

kAos Group saves our clients time and money by giving their accountant the numbers they need, not piles of papers to sort through. A professionally organized filing system will support you year after year, save you money and give you peace of mind.

Try these ideas to save yourself time and money this year:

Sorting: All financial documents should be neatly sorted and organized by category before going to the accountant.

Excel: If you don’t use an accounting program, track all your information in an Excel spreadsheet.

Last Year: Have your Notice of Assessment from last year handy so you can confirm all deductions were accounted for.

Hard Copies: Safely archive all paperwork pertaining to taxes for at least 7 years. These documents should not remain in your day-to-day filing cabinet.

Submit Early: Reduce the stress of getting your taxes done at the last-minute and avoid interest and penalty charges for late filing.

Annual Sub Folders: A professionally organized filing system will have annual sub folders allowing for the few months of cross over between the years. You can remove last year’s files, when your ready, and have the existing year fully functioning and completely separate.

This process ensures maximum accuracy when dealing with your taxes and for long-term tracking of all pertinent paper work.