Why is tax time always so stressful?

Chances are that you have registered your small firm as a partnership. It is fairly inexpensive and has some nice benefits that come with it. Obviously it depends a bit on how you have it all set up. But one thing however is for sure and that is starting for the tax year ending December 31, 2016, the return is no longer due April 15th, but instead they pushed up the deadline one month and now you have to get it all done before March 15th. As if you don't have other things to worry about.

However, I know you are pretty confident and since you have kept track of all your income and expenses using your accounting solution your tax accountant should get all the info he needs without even having to bother you. So you spent 10 minutes pulling the reports he requested from your accounting system, sent these to your tax accountant, and just wait for that refund to roll on in. Right? Wrong!

As you probably have experienced by now after years of filing your company's tax return, even though you keep track of all your transactions to the best of your ability. The tax accountant always has additional questions about some transactions that occurred somewhere during the year. And when that eventually happens (it will happen sooner or later), you are sitting there, scratching your head and trying to find out exactly what happened somewhere, almost a year ago, with one of your many transactions. You are likely not too happy with your tax accountant at this point, but the question really is whether you can blame them, or whether there is something else to blame here.

You see, accounting solutions are provided to enable you to keep track of your transactions and make sure you have your books in order so that, among other things, they are ready for tax time. The problem is however, that these solutions don't review the results of your inputs the way your tax accountant does. But before your tax accountant gets a chance to review everything almost a year has past and it will be very hard to remember exactly what happened. It really is not the fault of your tax accountant, if anything, it is the fault of whoever created your accounting solution as they were clearly more occupied with remembering their own transactions for their tax return then actually creating a solution that would take care of this problem.

We at Techne heard this complaint from many small business owners, like yourself, and decided that somebody needed to change the game. By a process we call "dismantling" our software actually reviews every transactions individually on the moment it gets entered and will prompt additional information or requests when required so that your input is reflective of the transaction. This means that there is no need for you to keep space in your mind to remember all these small things that might come up during tax preparation. Instead, you can use your brain power to come up with creative ideas to make your business even more successful.

Many providers claim that they will take care of the accounting so you can run your business. They forget to mention however that that does no longer apply when you actually need to use your numbers for tax preparation and other reporting. Techne is here to put our money where our mouth is and make you forget you ever had to deal with your tax accountant.

Techne. Next generation accounting for your small business.