Recordkeeping
Real Easy Recordkeeping with The Tax Club
Recordkeeping is generally a cause of much anxiety for small business owners. Most small business owners are aware that recordkeeping is an IRS requirement, but knowing what to keep, what to create, and how to organize is difficult. Even worse, there is not much info readily available to make the job any easier.
For example, many business owners who choose a corporate entity are not aware that they are required to keep the minutes of the monthly shareholder meetings even if the owner of the business is the only shareholder. Counterintuitive requirements like this make the recordkeeping task a daunting one.
Another example of counterintuitive recordkeeping requirements can be seen with expense reports. Many people who own and operate their own business will occasionally need to be reimbursed by the business for small purchases that can occur throughout the week. However, for the company to legally reimburse the owner of the business, the owner must submit an expense report to the company, and then as owner of the company, sign off on approval of that expense report.
The Tax Club has developed a system to make recordkeeping as easy as paying bills online. With our members-only recordkeeping tool, clients can simply answer a questionnaire once a month so that we can produce all the proper documents to stay compliant.
Accurate recordkeeping is essential for any home-based business. To learn more about how our recordkeeping tool can help you organize and track your business records, contact us today to schedule your free consultation.
The Tax Club wants to see our clients' businesses become profitable by providing expert advice and services in the business and tax fields. Whether it's business market research, marketing and business planning, recordkeeping or guidance on e-commerce payment options, The Tax Club's experienced team assists business owners in making the best decisions. The Tax Club highlights the fundamental steps new small business owners, specifically those involved with e-commerce, should consider when starting their business. It's not enough to be a business owner; you must understand and take part in all aspects of the business in order to increase your chances of business survival, and ultimately, become a successful business leader. The Tax Club will provide assistance with these business aspects, and we encourage our clients to ask questions when they are confused about any part of the business process.