The Speedy Tax Preparation & Bookkeeping Service team wishes you the happiest holidays this season. May the God of great mercy, grace and power. Bless you, at this time of year when we celebrate His birth.

Whether you’re a budding entrepreneur or an established business owner, properly managing your finances can stabilize your company making it less likely to fail. However, it can be an overwhelming job when you have to handle all of those complex accountancy tasks. In such situations, a professional financial expert can serve as a valuable asset in your business. With their expertise and knowledge, they can assist you in managing your finances and help propel your business’s operation forward.

Whether you’re employed or self-employed, everyone with a taxable income owes taxes to the government. Paying your taxes is a civic responsibility and a requirement of the law, and if you fail to do so, you could face penalties, fines, or worse, get imprisoned. Therefore it’s essential that you get yourself prepared before the tax season starts. Consult with a reliable financial advisor if you don’t understand how tax systems work. These professionals will make the process as simple as possible and help you save time and money.

As tax day approaches, you make sure all your W-2 forms, deductions, and other paperwork are in order, and you will file the perfect mistake-free return this time. Well, that’s not always the case as minor mistakes can happen, and most of the time, they are fairly simple ones. Filing taxes is not a frequent or a regular task, and like most taxpayers, you could put wrong information on their returns. Moreover, as tax rules change every year, it becomes more cumbersome and challenging to file taxes correctly. So to help you get your returns right and avoid some basic errors that could prove costly, Speedy Tax Preparation & Bookkeeping Service has put together a list of the most common mistakes people make on their taxes.

Original Article Source Credits:   Investopedia , https://www.investopedia.com/

Article Written By:  SEAN ROSS

Original Article Posted on:  Jun 12, 2020

Link to Original Article:  https://www.investopedia.com/ask/answers/121514/what-difference-between-pl-statement-and-balance-sheet.asp

I’m Mary Brown, the proud owner of Speedy Tax Preparation & Bookkeeping Service. I look forward to sharing my story. I hope that you will enjoy getting to know me better.

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