Doing your taxes can be intimidating. Don’t worry though because this is a normal reaction for those who don’t do this for a living, which is why it’s important to avail the services of tax accountants Cardiff.

Once you’ve found the perfect tax accountant to work with you, the next viable question would be "How do you prepare for your very first meeting?" Here are 9 tips you should remember when you first meet up with your tax accountant.

Do proper research and make sure to prepare all your questions beforehand

To make sure you are getting the most out of the service, you do have to prepare your questions beforehand. Some of the questions to bring up during your first meeting include What are the new tax changes this year? How will these changes affect me? What should I do differently to improve my current situation? What other services do you offer?

Provide estimated tax payments and other payroll details

accountants Cardiff can help you file your taxes properly. Bringing your estimated tax payments and other payroll details makes it easy for you and your accountant. Remember, payroll details are necessary for your business filing taxes.

Make sure to bring all of the necessary documents to your first meeting

Aside from tax payments and payroll details, make sure also to bring other tax paperwork so that you can show your accountant your full financial map. This will help them see the annual image of your business expenses and income.

Don’t forget about the upcoming year

Another thing that most business owners fail to include during their first meeting with their tax accountant is any events that are expected to happen in the upcoming year. Events like having a baby, getting married, getting a promotion and a raise, selling or buying property, making large purchases, or thinking of making a new investment decision, can affect your tax situation.

Don’t forget to include details of your expenses and tax deductions

Tax accountants Cardiff, to be able to file your business taxes properly, will also need a summary of your business expenses and any notable tax deductions.

Don’t forget your real estate documents

Real estate documents can also help with your deductions. Bring recent information regarding any of your real estate activities.

Summarize your cost of goods sold

The cost of goods sold should be included and documented properly in your inventory. Be sure to also include the total beginning amount, ending amount, and any purchases in between.

Bring additional income statements

Accountants Cardiff will also need any additional income statement that you may have. Whether it's from any of your side hustles or investments, it should be included and noted down during your business tax filing.

Bring your dependent information

Finally, be sure to bring your dependent information. Why is this included? You will need to claim a dependent on your tax return, so they will need your dependents' Social Security number, full name, and date of birth. Bring documents that support these.

When you hire accountants Cardiff, you are guided from beginning to end when it comes to filing your taxes. With this option, you'll not only be saving time but also money in the long run. You'll have a stress-free process and the peace of mind that you're not making any mistakes. If you’re looking to hire tax accountants Cardiff, contact Advantage Accountancy and Advisory at 02922 331169 or visit website https://www.adv-accountancy.co.uk/.