Finance & Enjoyment Blog

February In A CPA Office

February in an accounting office is when things really start to ramp up for tax season. It's a month where emphasis is placed on corporate tax returns since their deadline is March 15th. We also finalize any outstanding 1099s that need to be mailed to their recipients as well as getting them together to send to the IRS since the deadline is the end of the month

Typically, our corporate returns are followed by the preparation of the owner's individual tax return. We do this for several reasons, the most obvious is convenience. Getting everything completed at the same time is superior to a one or two month gap between the dates the corporate return is filed and the individual return is filed. Also, for our in-house payroll clients, preparing the W2s is the initial step before the corporate return, so having the owner's salary information is right there.

Although February is a busy month, it's not nearly as bad as January or March. There is still some leeway for deadlines but our philosophy as a firm is to be as vigilant as possible with our client's returns in order to avoid any last minute rushes. The key to a successful and smooth tax season is to be as prepared as possible.

Posted in Successful Practice Management » Entertainment and Events »

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