The unexpected shutdown of Bench Accounting has left many clients scrambling to find alternative bookkeeping and tax preparation services. This news comes at a challenging time, as businesses finalize their financials and prepare for the upcoming tax deadlines.

If you are a Bench client, finding a new bookkeeping partner and making sure your tax filings are done correctly and on time can be overwhelming. We know this is challenging, and we’re here to assist you.

What You Should Do Now

To minimize the impact of Bench’s closure on your tax filings, it’s crucial to:

1. Request an Extension: Filing a tax extension gives you and your new bookkeeper the time needed to thoroughly review your financial records and close your books accurately.
2. Gather Your Financial Documents: Ensure you have access to all your previous records, including reconciliations, receipts, and reports. This will streamline the transition to a new bookkeeping service.
3. Act Quickly: The end of the year is a busy time for accounting professionals. Starting the process now will help you avoid delays.

How We Can Assist You

We specialize in bookkeeping and tax preparation services designed to meet the unique needs of businesses like yours. Onboarding new clients at year-end takes more time as we need to reconcile accounts thoroughly. We are dedicated to organizing your books and filing your taxes accurately.

Here’s what we offer:

• Extension Filing: We’ll file an extension to give us the necessary time to clean up and review your books.
• Detailed Book Review: Our team will carefully assess your financial records, identify any discrepancies, and bring your accounts up to date.
• Accurate Tax Filing: We’ll file your taxes on time and correctly to avoid penalties.

Get Started Today

We understand the urgency of the situation. Our team is ready to assist you. To get started:

• Fill out our contact form.
• Email us at accounts@reinspiredbooks.com
• Call us at (845) 335-4480
• Start a New Portal Request: Visit our client portal at portal.reinspiredbooks.com to begin.

Transitioning to a new bookkeeping service may feel daunting. We’re here to make the process as smooth as possible. Don’t let the sudden closure of Bench Accounting derail your financial plans—reach out to us today, and let’s get started on securing your business’s financial future.

Don’t wait—reach out today to secure the support you need!

Reinspired Books: Your Partner for Bookkeeping and Tax Preparation.

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Why Knowing Deadlines Matters:

Being aware of the sales tax due dates is critical for direct-to-consumer sellers since it directly impacts your business’s financial health and reputation. Failing to meet tax deadlines can lead to penalties, fines, and even legal troubles. On the other hand, staying compliant showcases your commitment to ethical business practices and builds trust with your customers.

Key Dates and Requirements:

It’s important to remember that each US state has unique sales tax laws and regulations. To remain compliant with these laws, you must stay informed about the specific sales tax filing dates for each state where you conduct business. Some states require monthly, quarterly, or annual filings, while others may have varying thresholds before you need to register for sales tax. Keeping track of these dates will ensure you never miss any deadlines.

Here are a few essential tips to ensure you meet sales tax requirements:

a. Register for Sales Tax: As a direct-to-consumer seller, you must register for sales tax in each state with a sales tax nexus. A nexus refers to a significant presence in a state, which includes having a physical location, employees, or exceeding a certain sales threshold.

b. Keep Accurate Records: Maintaining organized and accurate records of all sales transactions, including sales tax collected from customers, is crucial. Reliable records make the tax filing process much smoother and help avoid discrepancies or audit issues.

c. Utilize Tax Automation Tools: Consider utilizing tax automation software that integrates with your online selling platforms. These tools can help calculate and collect the correct sales tax, saving time and effort. Some reputable sales tax automation software options include Avalara and Quickbooks. They also provide notifications if you’ve triggered sales tax nexus in any state.

Sales Tax Filing Dates Per State:

Below is a simplified breakdown of sales tax filing frequencies for some states:

• California: Quarterly filing (April 30, July 31, October 31, January 31)
• New York: Monthly filing (by the 20th of the following month) Quarterly filing by the 20th of the month following the end of the previous quarter.
• Texas: Quarterly filing (April 20, July 20, October 20, January 20)
• Florida: Monthly filing (on the first day of the following month)
• Illinois: Monthly filing (by the 20th of the next month)

It’s important to note that the above dates may change. Verifying the latest deadlines with the respective state tax authorities is essential.

As a direct-to-consumer seller, understanding and complying with sales tax due dates are fundamental to the success and reputation of your business. By staying informed and implementing the tips provided, you can confidently navigate the complexities of sales tax.

If you need any assistance with sales tax matters, contact us! We’re here to help you succeed.

The post Sales Tax Deadlines Made Simple: Stay Compliant, Avoid Penalties first appeared on Reinspired Books, LLC.