You promised yourself last year that you’d be more organized at tax time. It’s easier than you think to eliminate the pain and stress of reconciling a year’s worth of income and expenses. Use this three-step approach. 

  1. Ditch the paper. Use a scanner or your mobile phone to capture receipts electronically.
  2. Use bookkeeping software, which is now affordable for most businesses.
  3. Download your bank statements at the end of every month, and match up or record all of those electronic receipt images. 

Follow this approach, and you’ll be ready for tax time shortly after the end of the year.