利用者:Millingtown291

It's a new year and as a business owner, you're probablylooking for ways to  improve your small business  accounting, to get the most out of your taxes and to increase cash flow. There are lots of things you can do in order to make tax time go more smoothly. I've put together a few things here to keep in mind as you begin the new  year and try to make it in one piece through the tax  season? Family Businesses Need to Have a Separate Bank Account  Should you ever find that the IRS is taking an interest in you and your small business and  they start  digging deep, you should know that they scrutinize  over everydetail of money exchanging  hands between members of the family when there's a family business  involved. So if your small business is a family business, make sure to use separate bank accounts so there's no possibility of being accuse of fraudulent activity. Have one for your personal finances and one for your family's business. If you do this, you'll also make any future  financial statement analysis  easier, as the cash flow is much more  defined. Suspicious Activity with Independent Contractors If your  small business doesn't have many  employees, the IRS probably won't hesitate to assume  payments you have issued to independent contractors are  fraudulent. So for any payments you make to contractors, make certain that you're getting a 1099-MISC from the  contractor, as well as a 4669 (Statement of Payments Received). If you are proactive in making certain you have all of this documentation then you make it easier on yourself to  prove to the IRS all your payments have been  legit. Tracking Receivables that are Overdue Though  some people may take offense, this is something that every money smart small  business owner will do? when a check is supposedly on the way from a client or customer, politely ask if they can provide you with the check number and the date they wrote it. That way, you can track it easier and you have record of it on hand.