FacebookInstagramLinkedIn

News

15 04, 2026

I Got an IRS Notice. What Happens Now?

2026-03-27T15:26:28-05:00April 15, 2026|0 Comments

Opening your mailbox and seeing a letter from the IRS can stop you cold. Your mind goes straight to worst-case scenarios.

Take a breath. Most IRS notices are not criminal investigations. They are requests for information, clarification, or payment. What happens next depends almost entirely on how you respond and how quickly you act.

If you received an IRS notice in the Charlotte area, here is what you need to know.

Step One: Do Not Ignore It

Ignoring an IRS letter does not make it disappear. It makes everything worse.

When notices go unanswered, penalties and interest continue to accrue, response deadlines pass, and your available options narrow. The IRS escalates. What started as a manageable situation becomes significantly harder to resolve.

Even if you cannot pay the balance in full, responding preserves flexibility. Silence does not.

What Do IRS Notices Usually Mean?

The IRS sends notices for a wide range of reasons. Most are not as alarming as they feel. Some of the most common include:

Balance Due Notices. You owe taxes from a previous year and the IRS is requesting payment or a response.

CP2000 Notices. The IRS believes income was underreported based on third-party reporting such as W-2s or 1099s. This is not an audit. It is a proposed change that you have the right to dispute.

Audit Letters. The IRS is requesting documentation to verify items reported on your return.

Intent to Levy or Lien Notices. This is one of the most urgent notices you can receive. It means the IRS is preparing to begin collection action, including seizing wages, bank accounts, or property, if the balance is not addressed. If you receive one of these, do not wait.

Not every notice means you did something wrong. Sometimes income was reported incorrectly by a third party. Sometimes payments were misapplied. Sometimes all that is needed is clarification. But the only way to know is to review the notice carefully and respond.

What Happens If You Do Nothing?

When a notice is ignored, the process escalates in predictable stages.

Reminder notices are issued. Penalties and interest increase. A federal tax lien may be filed against your property. Wages or bank accounts may be levied.

By the time enforcement begins, resolution becomes more complex and more expensive. The IRS is not waiting for you to feel ready.

Addressing the issue early keeps more options available.

What Should You Do Immediately?

If you receive an IRS letter, slow down before you act.

  1. Read the entire notice carefully.
  2. Confirm the tax year it references.
  3. Identify the response deadline.
  4. Do not call the IRS until you understand your position.
  5. Do not agree to payment terms before reviewing all possible solutions.

That last point matters more than most people realize. Many taxpayers commit to arrangements that are not in their best interest simply because they responded too quickly without a full picture of their options.

When Should You Contact a CPA?

If you are unsure how to respond, that uncertainty alone is reason enough to seek professional guidance.

You should reach out for a review if:

  • The balance is larger than you can comfortably pay
  • The notice references liens, levies, wage garnishment, or an Intent to Levy
  • You disagree with the IRS findings
  • Multiple tax years are involved
  • You have already tried to resolve the issue without success

An experienced CPA can pull your IRS transcripts, determine whether the notice is even accurate, identify legitimate resolution options, and communicate directly with the IRS on your behalf. That last part matters: Form 2848 is the IRS Power of Attorney, and with it your CPA can speak to the IRS for you so you do not have to navigate those calls alone.

When you are facing IRS correspondence in Charlotte, working with someone who understands both federal procedure and your full tax picture makes a real difference.

The Good News

The IRS has established programs specifically designed to help taxpayers resolve their balances. Depending on your situation, you may qualify for:

  • An installment agreement to pay over time
  • Penalty abatement to reduce what you owe
  • An Offer in Compromise to settle for less than the full balance
  • Currently Not Collectible status if you genuinely cannot pay
  • Audit representation to protect your rights through the review process

Not every option applies to every case. A structured evaluation determines what makes the most sense for your specific situation.

If You Received an IRS Notice in Charlotte

Do not panic. Do not ignore it. And do not assume your only option is writing a check for the full amount right now.

Before you respond to the IRS, schedule a confidential consultation to review your notice and understand your options clearly. Handling an IRS letter correctly the first time can prevent consequences that are far more difficult and expensive to address later.

25 03, 2026

What Is IRS Tax Resolution, and Could It Help You?

2026-04-02T16:03:13-05:00March 25, 2026|0 Comments

If you’ve ever opened a letter from the IRS, you know the feeling. Your stomach drops. Questions race through your mind. How much do I owe? What happens if I can’t pay? Is this as bad as it looks?

Sometimes the answer is: it’s not as bad as it looks. Sometimes the IRS has made an error, and you may not even owe what they’re claiming. Either way, you have options. That’s exactly what IRS tax resolution is about.

So, What Is IRS Tax Resolution?

IRS tax resolution is the process of addressing and resolving unpaid tax balances, penalties, audits, or collection actions. It works legally and strategically. It’s not about making your tax debt disappear. It’s about finding a structured path forward that protects your finances and brings you back into good standing.

Depending on your situation, resolution can involve:

  • Setting up a manageable payment plan
  • Negotiating your total balance owed
  • Requesting penalty relief
  • Stopping wage garnishments or bank levies
  • Responding to audit notices with proper documentation
  • Correcting IRS errors on your behalf

That last point matters more than most people realize.

Wait. The IRS Can Be Wrong?

Yes. And it happens more often than you’d think.

We’ve had clients come to us after receiving notices claiming they owe thousands of dollars, only to discover after a thorough review that the amount was incorrect. Sometimes returns were filed on time, but the IRS has no record of it (and we can prove it). Sometimes a 1099 was issued that created a tax event the client didn’t fully understand, leading to an apparent discrepancy that has a legitimate explanation.

One example: a client had self-prepared their 2017 tax return and had stock options. A 1099-B was generated and reported to the IRS, but the cost basis wasn’t properly accounted for, making the taxable gain appear much larger than it actually was. We were able to identify the issue, work through the numbers, and reach a resolution that accurately reflected what was owed.

The point is this: a notice from the IRS is the beginning of a conversation, not a final verdict.

Who Actually Needs IRS Tax Resolution?

Most people assume IRS problems only happen to others. Businesses that did something wrong. High earners hiding income. That’s rarely the case.

The clients we work with are ordinary people facing ordinary life circumstances:

  • Small business owners who missed quarterly estimated payments during a slow season, or whose payroll tax obligations became unmanageable during a period of rapid growth.
  • Individuals with back taxes who fell behind after a job loss, divorce, medical emergency, or unexpected expense. Life doesn’t pause for the tax calendar.
  • People who self-prepared returns and didn’t fully account for things like crypto activity, investment income, stock options, or freelance earnings. All of these can trigger IRS correspondence.
  • Audit recipients who received a notice requesting documentation or clarification and aren’t sure how to respond.
  • IRS issues don’t discriminate by income level, profession, or how careful you’ve been in the past.

What Happens If You Ignore It?

This is where things can get serious, and fast.

Ignoring an IRS notice doesn’t make it go away. Penalties and interest continue to accumulate. Collection actions escalate. The options available to you narrow with every passing month.

Potential consequences of inaction include:

  • Wage garnishment
  • Bank account levies
  • Federal tax liens on your property
  • Passport restrictions
  • Increased enforcement activity

The earlier you respond, the more flexibility you typically have. Waiting rarely works in your favor.

What Are the Actual Resolution Options?

The IRS has formal programs designed to help taxpayers resolve their situations. A qualified CPA can evaluate which options apply to your circumstances:

  • Installment Agreements. A structured monthly payment plan to resolve your balance over time without full immediate payment.
  • Offer in Compromise. In qualifying cases, the IRS may accept a settlement for less than the full amount owed.
  • Currently Not Collectible Status. If you genuinely cannot pay, the IRS may temporarily suspend collection activity.
  • Penalty Abatement. If you have a history of compliance or a valid reason for falling behind, penalties may be reduced or eliminated.
  • Audit Representation. A CPA can represent you directly before the IRS, communicate on your behalf, and ensure your rights are protected throughout the audit process.

Not every option works for every situation. That’s why a structured review matters before taking any action.

How a CPA Represents You Before the IRS

One tool that makes a real difference is Form 2848, the IRS Power of Attorney. When a CPA is authorized with this form, they can communicate directly with the IRS on your behalf, so you don’t have to.

That means no more dreaded phone calls. No more confusing correspondence. No more worrying that you’ll say the wrong thing or miss a deadline. Your CPA handles the communication, reviews your full tax history, identifies legitimate resolution paths, and works toward a clear plan forward.

You Don’t Have to Figure This Out Alone

If you’ve received an IRS notice or are concerned about unpaid taxes, the most important step is getting a clear picture of where things actually stand. Sometimes the situation is better than it looks. Sometimes it needs immediate attention. Either way, knowing is always better than wondering.

At Todd Greene CPA, we work with individuals and business owners across the Charlotte area who are navigating IRS issues, from simple correspondence to complex back-tax situations. We review your full tax history, communicate with the IRS directly, and help you find a resolution path that makes sense for your life and your finances.

Schedule a confidential consultation today. There’s no obligation, and the sooner you start, the more options you’ll have.

17 07, 2025

Todd Greene CPAs Named to UAB’s Blazer Fast 40 List

2026-04-02T16:05:12-05:00July 17, 2025|0 Comments

Growth you can count on, literally.

We’re proud to announce that Todd Greene CPAs has been named one of the Blazer Fast 40, a distinction awarded by the University of Alabama at Birmingham National Alumni Society to the fastest-growing businesses owned or managed by UAB alumni.

This recognition celebrates companies demonstrating exceptional growth, strong leadership, and a commitment to business excellence.

Founded by UAB grad Todd Greene, our firm has always been focused on people first, helping clients make smart financial decisions with clarity, confidence, and the occasional joke. If you’ve worked with Todd, you know what makes him different. He’s smart, yes, but he also brings warmth, humor, and genuine care to everything he does. He’s the go-to for small business owners, growing families, and even nationwide enterprises looking for a trusted advisor, not just during tax season but all year long.

This award is a direct reflection of our hard work, Todd’s excellent leadership, and the trust our clients have placed in us over the years. Without them, none of this would be possible. Click here to learn more about the Blazer Fast 40 and UAB Excellence Awards. 

We’re honored to be recognized among such an impressive group of Blazer-led businesses and excited for what’s ahead.

Thank you for growing with us! 

Want to see what our award-winning team can do for you?

Schedule a free consultation 

28 06, 2024

Local Spotlight: The 10th Annual BMOF Golf Tournament

2024-06-24T16:55:54-05:00June 28, 2024|0 Comments

Swing into action for a good cause to benefit Charlotte families! The Rotary Club of Mecklenburg County-South is hosting the 10th Annual BMOF Golf Tournament in September, and you won’t want to miss your chance to participate in this exciting event.

About the 10th Annual BMOF Golf Tournament

We know. September is months away, but the time to secure your spot on the course on September 30 is now! Even though this is the 10th Annual BMOF Golf Tournament, you may not know that “the world’s most ridiculously awesome” has limited spots. 

The lively charity golf tournament has 56 regular player spots and 88 sponsor player spots. This year, the 56 individual player spots were reserved before the official registration opened earlier this month! 

The only way to get a tee time is to become a sponsor! With various sponsorship packages, sponsors can invite up to three foursomes to one group of four, plus additional marketing and promotional benefits for the sponsoring business or organization.

How to be a sponsor

Are you ready for a fun team-building experience? Do you have some VIP clients you’d like to invite to the course for a round of golf? Then becoming a sponsor for the BMOF—Bloody Mary’s on the Fifth—is for you! 

While golf will be par for the course, event sponsors will also enjoy uninterrupted golf, players’ gifts, breakfast and drinks at the driving range, lunch on the course, drinks at each hole, three Bloody Mary bars along the course, a hole-in-one contest on every par 3, skills contest around the course, a Tito’s Bottle Treasure Hunt, more than $3,000 in raffle prizes, silent auction deals and a full buffet dinner!

Explore the sponsorship opportunities here.

Location

Save the date and make plans now to be a sponsor and enjoy fun, fellowship and giving back to a local nonprofit, Beds for Kids. Beds for Kids serves local families by providing children’s beds and other essential furniture for families to help them get established in their homes. 

This year’s charity tournament will be at The Club at Longview at 8801 Longview Club Drive in Waxhaw. 

Summary

Todd Greene has been a proud member of the Rotary Club for 10 years now, which is why this cause and event is near and dear to us. We are pleased to sponsor the 10th Annual BMOF Golf Tournament and are excited to share this opportunity. Get to know your neighbors, have fun and make a difference locally. Feel free to reach out to us if you have questions about the event—and go ahead and ask about our accounting and tax services as well! Continue reading our blogs for accounting tips, tax information and more. 

28 05, 2024

8 Accounting Challenges for Small Businesses

2024-05-28T09:51:38-05:00May 28, 2024|0 Comments

Managing a company often requires business owners to wear multiple hats in several roles, including customer service rep, marketing manager and accountant. Be prepared for all your roles by reviewing these common accounting challenges for small businesses and how to handle them.

Reporting finances

One of the biggest challenges a business faces is keeping up with the financial disclosures and reporting requirements that the United States Securities and Exchange Commission requires. But doing so ensures you document all your information correctly in case your company is audited.

Managing cash flow

A good way to help manage your business’s cash flow is to stay on top of billing and accounts receivable and regularly review your bills. Pay attention to your recurring monthly expenses to see if there are areas to downsize and cut costs where possible.

Remember to earmark funds for specific expenses to help keep cash flow steady and your small business thriving.

Covering unexpected expenses

A business can seem to be in perfect shape until an unexpected expense or emergency pops up. Setting certain funds aside for emergencies and using existing credit to help cover unexpected expenses can make a difference in your bottom line.

Updating expenses

Along with covering unexpected expenses, updating expenses is just as important. Keep track of receipts and recurring costs. Then claim them as small business deductions, as the IRS does require documentation.

Business deductions will lower your taxable income and give a better understanding of your company’s profits and losses.

Regulating payroll

Another one of the accounting challenges for small businesses to look out for is regulating payroll. Classifying employees, filing taxes correctly, paying employees and tracking employee time off are the tip of the iceberg when regulating payroll.

Analyzing finances

Track your finances by verifying all your business transactions regularly. Review your books at the end of each day with these steps in mind: interpreting, analyzing and advising.

Then ask yourself, “What do those numbers mean? How do we improve them?”

Filing taxes

Filing federal and state taxes can be stressful for business owners. Even though your business structure determines your tax obligations, most businesses must pay income, unemployment and payroll taxes.

In addition, businesses pay estimated quarterly taxes if they expect to owe $1,000 or more when filing. Failing to do this can result in fines and penalties.

Keeping up with policy changes

Tax laws are constantly changing. Stay current to reduce your chances of overpaying, underpaying and more.

Summary

Tackle these accounting challenges for small businesses with confidence by working with a trusted team of knowledgeable accountants, tax specialists and more. Contact Todd Greene, CPA, PLLC, to take your business to the next level.

Plus, continue reading our blogs for more accounting news and tips.

29 04, 2024

Tax Benefits that Small Business Owners Need to Know

2024-04-26T15:49:14-05:00April 29, 2024|0 Comments

Are you a small business owner looking to maximize your benefits and save on costs? There are two tax benefits that small business owners need to know about with recent law changes that could help them reach both goals.

Two must-know tax benefits for small businesses

Let’s look at two credits that can help business owners save money and provide valuable employee benefits: the retirement plan start-up cost credit and the small employer health insurance credit.

Retirement Plan Start-up Cost Credit

As we start to review tax benefits that small business owners need to know, we should mention the law change in 2022 that enhanced the tax credit known as Secure 2.0. One of the most notable changes the Secure 2.0 Act brought about is the significant increase in the retirement plan start-up cost credit.

More specifically, it increases the credit to 100% of qualified start-up costs for employers with up to 50 employees. Employers with 51-100 employees are still eligible for a credit of 50% of qualified start-up costs.

According to the IRS, eligible employers could claim a tax credit of up to $5,000 for three years. Credits can apply to the costs of starting a SEP, a simple IRA or a qualified plan such as a 401(K).

Small Business Health Care Tax Credit

Another one of the tax benefits that small business owners need to know about is the small business health care tax credit. This credit helps small businesses afford the cost of providing health insurance to their employees.

This tax credit can benefit small businesses with less than 25 full-time employees who, on average, pay less than $61,400 per employee in 2023. 

In general, the maximum credit is 50% of premiums paid for small business employers and 35% of premiums paid for small tax-exempt employers. What’s more, the credit is available to eligible employers for two consecutive taxable years.

Find out more information about qualified health plans offered through the SHOP Marketplace at Healthcare.gov.

Summary

Are you wondering if your small business is missing these tax credits or others? Are you ready to learn more about the requirements for each tax credit? That’s what we are here for! Contact us to schedule your free consultation to learn how we can help your small business with taxes and more. Keep reading our blogs for additional tax tips and other industry news.

28 03, 2024

5 Things to Know about 2023 Taxes

2024-03-25T14:19:16-05:00March 28, 2024|0 Comments

Are you realizing Tax Day is quickly approaching and you still haven’t noted what’s changed for 2023? Deadlines have a way of sneaking up, and luckily, we’re here to remind you of five things to know about 2023 taxes before you file.

Tax brackets changed slightly. 

First on the list of things to know about 2023 taxes is that the tax brackets, or income ranges, for each of the seven tax rates shifted to account for inflation. To clarify, the rates didn’t change, but there was an increase in the income brackets. 

The top rate remains at 37% for single filers, but the income rate increased for single filers with an income of $539,900 or more in 2022 to $578,126 or more in 2023, for example. For a married couple filing jointly, the income range increased to $693,751 or more in 2023 versus $647,850 or more in 2022. 

The lowest rate is still 10%. The income brackets have bumped up to $0 to $11,000 for single filers and $0 to $22,000 for married couples filing jointly. Review all seven tax rates and brackets here. 

The standard deduction increased. 

Another change for taxes in 2023 is the standard deduction will increase too. 

For instance, according to the IRS, the standard deduction for married couples filing jointly for 2023 increases to $27,700, which is a $1,800 jump from 2022. What’s more, the standard deduction for single taxpayers and married couples filing separately increased by $900, rising to $13,850 in 2023. For heads of households, the standard deduction increases to $20,800 in 2023, a $1,400 boost from 2022.

The Child Tax Credit may give you a tax break.

If you have a qualifying child under 17 in 2023, the maximum Child Tax Credit is $2,000 per child if your annual income is less than $200,000 or $400,000 for a joint return. For other qualified dependents, you can claim a $500 credit.

Changes were made to retirement contribution limits. 

For those planning for retirement, it’s important to note that the contribution limits for retirement accounts have increased for 2023. The contribution limit for 401(k) plans has increased from $19,500 to $20,500, while the catch-up contribution limit for individuals over 50 has increased from $6,500 to $7,000.

This increase in contribution limits provides an opportunity for individuals to save more for retirement and potentially reduce their taxable income.

Double-check for any energy tax credits for 2023. 

Be sure to ask your tax professional about the changes and additions to energy tax credits in 2023 under the Inflation Reduction Act. If you’re a homeowner who made qualifying energy-efficient improvements, for instance, you may be able to claim up to 30% of the improvement expenses in 2023 instead of just 10% previously. 

Summary

Now that we’ve shared these things to know about 2023 taxes, it’s time to spring into action. Whether you want to make sure you are maximizing your tax return or you want to ensure the information is accurate, we are here to help. Contact us to learn more about our tax services, and keep reading our blogs for more industry news and tax tips. 

28 02, 2024

Direct Tax vs. Indirect Tax: What’s the Difference?

2024-02-20T10:50:06-06:00February 28, 2024|0 Comments

Direct tax vs. indirect tax. You’ve probably heard these terms before, but do you understand what they are and how they differ? Keep reading to learn the differences between direct tax and indirect tax.

What is a direct tax?

A direct tax is a tax levied on companies and individuals that cannot be passed onto another taxpayer.

What’s more? Direct tax is progressive, and the tax burden increases with income. Meaning, an individual with a high income will pay a disproportionate share of the tax burden, whereas someone with a lower income will see a small tax burden.

Direct tax types

There are five categories of direct tax: individual income tax, corporate income tax, capital gains income, estate tax and property tax.

Individual income tax

Individual income tax, or personal tax, is a tax imposed on salaries, wages, investments or other forms of income a household receives.

Corporate income tax

Incorporated businesses are taxed on their profits minus their allowable deductions. This is a corporate income tax.

Capital gains tax

Capital gains tax is a tax on the profit made from the sale of an asset, such as stocks or property. These tax rates can vary depending on two factors: income level and how long an asset has been held.

Estate Tax

Estate tax is a tax on the net value of a person’s taxable estate at the time of their passing. The estate pays the tax before any assets are distributed to the heirs.

Property tax

Property tax is a tax imposed on commercial and residential properties such as buildings and land. This tax can also be levied on tangible personal property like business equipment, inventory and vehicles. Property taxes vary between states.

What is an indirect tax?

Continuing with direct tax vs. indirect tax, indirect tax is a tax that can be passed on to another entity or individual. This type of tax can be imposed on goods or services.

Furthermore, an indirect tax is regressive. Meaning the tax is applied regularly regardless of an individual’s level of income.

Indirect tax types.

There are four main types of indirect tax: sales tax, excise tax, value-added tax and gross receipts tax.

Sales tax

Sales tax is a consumption tax on the sale of goods and services. This means once the tax is added to the sales price of a good or service, it is then charged by the retailer. The retailer then remits that tax to the government. Sales taxes differ from state to state.

Excise tax

Excise tax is a tax levied on specific goods such as alcohol, tobacco and fuel. Typically, companies pay the excise tax and then pass the cost of it onto the consumer—this is known as the hidden tax.

Value-add tax

Value-add tax, or VAT, is a tax on the value added at each stage of the production of a good. Each business along the production chain pays a VAT at that stage, and the business in the earlier stage is then reimbursed. Ultimately, the end consumer pays the VAT.

Gross receipts tax

The gross receipts tax is a sales tax that applies to business-to-business transactions. Businesses are required to pay on their gross receipts, or their gross sales, without deductions. The gross receipts tax is applied to the business, but the cost of the gross receipts is often passed onto the consumer.

Summary 

To summarize, it may help to talk to a professional when it comes to dealing with direct tax vs. indirect tax. If you are ready to start understanding your taxes better, give us a call at (704) 919-3220. And in the meantime, continue reading our blogs for more industry news and tips.

29 01, 2024

6 Tips for Learning How to Use QuickBooks

2024-01-22T16:03:41-06:00January 29, 2024|0 Comments

As the end of January approaches, are you realizing that accounting software like QuickBooks could be useful in reaching your 2024 business goals? Luckily, we are here to help by sharing these six tips for learning how to use QuickBooks with ease! 

Have a basic understanding of accounting principles.

First of all, learning QuickBooks will be easier if you have a basic grasp of accounting. That doesn’t mean you need to become an expert, but understanding the guidelines for reporting financial data is key to having accurate numbers and making informed financial decisions. 

Note your daily objectives.

If you are tackling QuickBooks on your own, try breaking up your daily objectives to help structure your learning plan. For example, day one could include going through initial QuickBooks tutorials to get started and browsing through the program to become familiar with it. 

On day two, objectives might include entering basic information, getting organized and possibly setting up a few accounts. From there, you can start learning more about inputting employee information, customer information, invoicing and so on.

Explore QuickBooks tutorials and videos. 

Next on the list of tips for learning how to use QuickBooks is a no-brainer! Take advantage of the plethora of information created by QuickBooks to help beginners like you. 

Their resources include tutorials, webinars and videos to make learning easy and self-paced. 

Learn handy QuickBooks keyboard shortcuts.

The software also uses a variety of convenient QuickBooks keyboard shortcuts to make some common actions even quicker. For instance, Ctrl + A pops up the Chart of Accounts window. Ctrl + C copies your selection to the clipboard, and Ctrl + I takes you to an invoice. 

Watch YouTube videos. 

Try learning QuickBooks through a variety of approaches, including watching YouTube videos made by QuickBooks pros. 

Work with us for one-on-one training.

Finally, when it comes to tips for learning how to use QuickBooks, work with a professional for personalized, one-on-one instruction. Did you know we are your local QuickBooks professionals in Charlotte? 

As a proud member of the QuickBooks ProAdvisor Program, we can ensure you set up QuickBooks for your business correctly from the beginning. Plus, we can help you manage and apply it moving forward.

Summary

In summary, find out more about the benefits of using QuickBooks for your small business. Then connect with us to get started. Are you looking for additional accounting information, from tax tips to deciding what business entity is right for you? Keep reading our blogs and discover all that and more! 

28 12, 2023

6 Accounting Resolutions for Your Business This New Year

2023-12-28T10:15:35-06:00December 28, 2023|0 Comments

With the new year just around the corner, it’s time to make your new year’s resolutions. And we don’t mean changing your diet or exercise routine—we’re talking about the resolutions you should make as a small business owner. Check out these accounting resolutions for your business this new year.

Meet with your accountant.

First and foremost, it is important you meet with your accountant. This will allow you to review your year-end numbers and lay out a plan of action in order to achieve the new year’s goals. Additionally, you should schedule regular meetings with your accountant to stay up-to-date on your finances.

Conduct a financial review.

Not so much a resolution, but an essential task for moving into the new year—if not every quarter—is to conduct a financial review. In doing so, you can double-check your figures and see if your business is in good financial standing as the year ends.

Understand any tax changes.

Tax codes and regulations change every year. This includes district, county, state and federal levels. Be sure, when meeting with your tax professional, that you review and understand the newest and most up-to-date regulations and how they will affect your company’s tax returns.

Update your accounting software.

When making accounting resolutions for your business this new year, add updating your account software to the list. There are a wide variety of accounting software options that can help your business run smoothly and more efficiently with accurate bookkeeping.

Talk to your clients.

When creating goals for your business in the new year, you will want to know what your clients wants and needs are, as well as where your business is excelling and lacking. Send out a survey or contact your clients for feedback in order to find where you can improve.

Set your business goals for the new year.

Now onto the most important resolution for your business: setting goals for the new year. How can you improve your business? How will you grow your revenue? Make a plan and set goals in order to streamline your accounting and more.

Summary

And don’t worry, if you’re searching for a team of trusted professionals that can help you with these accounting resolutions for your business this new year, contact Todd Greene! We can help you with small business accounting and bookkeeping, new business planning, tax preparation, tax planning and much more.

In addition, continue reading our blogs for more financial tips and accounting news.

© Todd Greene CPA, PLLC - All Rights Reserved
Go to Top