From deep in the holiday season, I know we are all counting down the days until we don’t have to work rather than looking for a good blog from an accounting services company. With that in mind, I won’t keep you long.

Instead, I will leave this as a holiday wish that the season brings you peace and sets you up well as you move toward the new year.

We are aware that much of what we do here may seem more like we are taskmasters giving out assignments instead of helpful elves. And yes, there is a level of that as a lot of what we do involves definite deadlines and thus is very time-sensitive. But our goal is to stay ahead of deadlines and use that time gained to get the best results for our clients.

This wish comes with hopes that we can continue to work together into the new year in ways that feel good for everyone involved and keep moving things in a positive direction. And if you need any assistance in getting there, let us know – maybe even as soon as possible.

But first, let’s all enjoy this break in schedules that are often too hectic.

Warmly,

Josh Bousquet
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​We have been speaking about end-of-year considerations for the last couple of weeks in this space and there’s no reason to stop now. After all, I figure this is probably the last chance we have to say something about taxes and have it be heard before we completely shut down for the holiday.

And yes, every year we speak about how it is a good idea to get a jump on getting ready for tax season. And yes, every year I’m sure this comes across as a little bit self-serving. This doesn’t mean it isn’t still a good idea for you, though, and it may be even more of a good one this year.

It’s quite possible that the new tax provisions passed through the One, Big, Beautiful Bill will not affect you. That is going to be the likely outcome for most taxpayers. There will still be a significant number of people who will be affected, though, and if you are one of them, you will want to be as ahead of things as possible.

Just think of the situation now while we can we are removed from the actual tax season time crunch – if you could get $1,000 by putting together paperwork two weeks earlier than you would have normally, isn’t that worth it? It’s not actually more work, it is just a matter of doing the same work at a different time.

At this point, there is only so much that one can do to get ready for taxes as most of your forms are not yet available. But hey, maybe a couple are, go grab those now. And within a couple weeks of the start of the year, there’s going to be some more, so why not grab those as soon as possible?

The chances of new questions arising this year during your tax prep are higher than it has been recently. Wouldn’t you like the opportunity to have time to answer these and see if they help your final answer?

So yes, this is not a new plea, but maybe there is a little more reason to listen to it this time. 

Warmly,

Josh Bousquet
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Last week I wrote a little bit about what one can do individually to improve and move forward in your financial situation after what may have felt like a rather turbulent year. This is not something that only comes through in the individual picture, though, but can also carry some wisdom for businesses.

In fact, you are probably feeling this more as a business. It’s one thing to have not been fastidious about tracking your personal checking account, but it’s another if you have not done so for your business account. In that situation, you may be seriously hurting your tax picture if you have not been keeping track of your income and expenses. Thankfully, it is still December, so there is time to catch up a little bit.

Granted, the holidays are coming and no one really wants to spend hours over that time working, but what would happen if you carved out just an hour a day to catch up on your office work? The first couple days may feel overwhelming and there may seem to be too far to go, but by the end of a week, I will bet that you are going to feel much better and the end may start to be in sight.

This is one of the banes of owning a business. People start the business because they want to focus more of their life on one area – and that is the public-facing part of the business and not all the stuff that has to happen behind the scenes to be fully successful.

So you’re going to feel great when you are caught up. Now take that feeling and move forward with it. How much time will you need to carve out to be on top of things? Is it two hours per week, five hours? If so, it can be beneficial to put that in a steady time slot on your calendar and make that the time that you focus only on that part of your business.

Of course, there comes a time in many business lives when you no longer actually have the time to stay on top of it. That’s great! It means that you have enough going on that your expertise is needed elsewhere, in the more exciting parts. So maybe it’s time to start getting some help in other areas so you don’t need to worry about them. And if you’re in that spot, please contact us, let’s see what we can do together to help you.

Warmly,

Josh Bousquet
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​Can you believe it’s already December? I suppose it’s been a year that has felt turbulent for many in our realm as we entered a new presidential administration, found our way around new tariffs, saw inflation kick up again, and had large legislation passed that could end up affecting the tax returns of many.

How people feel about this can depend upon many things, from your political leanings to your personal financial situation. Unfortunately, a lot of things like this can’t really be handled until they happen, so preparation could only go so far, but we are heading into the tax season that will begin its fallout and are confident that an overwhelming majority of our clients will weather the season with minimal issue.

But there are some things that you can prepare for, and they don’t even have to be very specific. Maybe there are things speaking out to you now during the holiday season. Would a better savings plan have made the purchases you want to make now easier? This may not be something you’re looking to implement immediately (you have to finish making those purchases first, after all), but you do not need to wait until the turn of a new year to start putting a new plan together, even if it will not go into play until then.

Or are there other financial goals that you did not accomplish this year? A big step toward this can actually be to start taking small steps. Then even if you don’t make it fully to where you had hoped you could get over the next three, six, 12 months, etc., you will still be making progress.

Of course, things may just be going well for you, in which case, congratulations. As you approach the end of the year, it’s still going to be nice to take stock of your situation, make sure it’s still where you want it to be, and carry on into the future. No matter where you stand, spending a little time to take that look can help give you confidence about where you are even in a time when things haven’t always felt settled.

Warmly,

Josh Bousquet
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