It’s the middle of the year and the pain and contempt for realizing your actual tax obligations are beginning to subside. Now is the time to take action and help yourself avoid that same agony next year. While it is good to take an appropriate break from the realities of family and business financial goals, now is the time to commit to leveraging the knowledge and power of today’s technology against a good old fashioned budget.
Historically accounting and bookkeeping in and of itself has been a painful process for businesses and families. Beyond the accounting and recordkeeping, applying a budget was another layer of time and difficulty. The results were often riddled with layers of confusing comparisons. That is no longer the case. Today we are able to leverage technology in way that simplifies our accounting and bookkeeping needs. Budgets are designed and arranged for automated comparison. With transaction recognition technology your income and expenses are semi-automatically coded in a logical and consistent manner. The process of organizing your finances has become greatly simplified with cloud accounting software. Now more time can be spent making decisions.
When you employ semi-automated accounting information systems to your family and business finances you will finally be able to realize the value of the information rather than the burden of assembling it. Many time people are so worn out from processing the information they forget to think critically about the result of the work. After all, aside from preparing for the next annual tax return, the purpose of compiling all of that information is to use it for decision making.
As we all cruise into life after tax season, let’s think about how we can work smarter this year by being proactive with understanding the ins and outs of our number one resource, cash. Leveraging technology to account for and measure our finances is the first step to taking control of our financial lives. At Swamp Fox CPA, LLC we can assist with initial set-up, implementation, and maintenance of your family and business financial needs. Further, we will assist with budget preparation, retirement and tax planning.
Contact us for assistance or more information.