5 Tips to Make Year End EASY for Your Online Business

As we approach the end of 2020, it’s a great time to put some thought into getting you tax documents in order for year end, and how you can make this an easy transition into a new year! Watch the video above for all the tips and details. 

Don't have time to watch the video? Here are the main takeaways below:

5 Tips to get your tax documents ready for year end

1. Get all your expenses/receipts in order and entered into your tracking system (we love Hubdoc for this purpose so we don't get behind)!

2. Make sure you have recorded all your income sources for the year. If you are selling in another currency, make sure they have been converted to your main currency for tax purposes.

3. Get copies of all of your bank, credit card and other statements for the year. These documents can be a challenge to get at a later date, and will be required if you are ever audited, so save them somewhere!

4. If you plan on a big purchase, review to see if it makes sense to purchase it in December instead of January. It might save you at tax time.

5. If you're looking to start the year with a new or different money tracking system, start it now! 

Be sure to download this FREE checklist to make sure you have everything in order come tax time.

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