Learn From Our Tax Mistakes

If you think owning a business is glamorous…you are totally wrong. Can I get an ‘Amen’ from the back?! We don’t just get to decide our hours, netflix and work, or outsource everything we do. There is blood, sweat and tears behind that perfectly curated Instagram page. 

One of the seasons in business that is the toughest, just because of organization and tediousness is definitely tax season. Holy moly, we hate it.

The 2019 tax season is already upon us, and we were scrambling to get our taxes in order a few weeks ago.

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This tax season though, (even though we were still scrambling), we were a little bit more prepared than last year but not as prepared as we could’ve been, so we wanted to share with you the hard lesson we learned, so you can do things the right way! Here’s to next year! 

Our first year as Urban Flora, we did not hire a CPA (Certified Public Accountant). This led to instant regrets. We had to sit down and print off every bank statement, every transfer, every…EVERYTHING! You get the point…It was chaos. This year we hired a CPA, but about half way through the game. So we still went through stacks of tax info, and killed about three highlighters in the process. 

Our simple tips to make tax season a little bit more of a breeze would be to just simply, keep up with it. Every month, calculate your income, expenses, etc. and keep a spreadsheet so that in March and April, you can click attach and send to your CPA without batting an eye. 

Here is a little freebie for things you might forget you can write off as a small business owner and one of our favorite online CPA’s that sends out all kinds of tax guide freebies for creatives!

Amy Northard 

Also if you’re thinking about getting a CPA..just do it. Get off the fence and hire one! Our CPA has turned into our ride or die. We handed her a stack of tax info the thickness of a dictionary and she just took care of it. We know its a big investment, but an investment that we promise will be worth every penny! 

Tax Day is April 15th, which means its literally FIVE days away. I know, we just want to crawl up in a ball too. Some of us might have asked for an extension, kinda like if we had “accidently” forgotten to do that homework that was due a week ago…LOL. But we hope with our simple tips and a little encouragement to just go for it - that you really do just go for it. We made the mistake for you and learned our lesson, so just go ahead and hire that CPA and get organized!