How to prepare your 2020 tax information to make the process smooth for yourself and your CPA. Marina Parkin (Koontz & Parkin, CPAs) and Jo Ann Koontz (Koontz & Associates, PL) explain what information needs to be provided, organization tips, bookkeeping recommendations and how to present documents to your CPA.
3:08 New Client: Past year or two returns, IRS notices.
8:33 Existing Client: Watch for your Organizer from Koontz & Parkin, CPAs. The Organizer explains what we need from you (it might be different than past years).
14:48 Organizer Questionnaire. Make sure you complete this because it includes major life and business updates (marriage, children, home buying, new business, new partner, etc).
19:59 Items to submit as business owner.
23:49 Keep like-things together.
25:09 Bookkeeping Software: Quickbooks Online or Quickbooks Desktop?
30:09 Bookkeeping: Good idea to setup and check-in with professional.
33:55 Big changes to business: ownership or partnership changes and major purchases or sales.
37:39 How to (and how not to) give CPA your important items. Submitting electronically.
48:06 Add questions to organizer for CPA.