How to Prepare for Tax Time — Stress-Free
Tax time doesn’t have to be overwhelming. With a few simple steps and good habits, small business owners and sole traders can approach the end of financial year with clarity and calm. At The Bookkeeper’s Touch, we’re here to help you feel in control — not confused.
Keep Your Records Up to Date
Having your books organised throughout the year is the #1 way to avoid last-minute tax stress. Ensure all income, expenses, invoices, and receipts are properly recorded in your accounting software (like Xero or MYOB).
Tip: Set a weekly reminder to review and reconcile transactions — it makes year-end a breeze.
2. Organise Your Documents
Make sure the following are ready and easy to access:
Bank statements
Expense receipts
Payroll records
Superannuation reports
BAS statements
Any business-related loans or asset purchase documents
Digital folders and cloud storage are your best friends here.
3. Review Your Deductions
Did you work from home? Buy equipment? Attend training? Many business-related expenses can be deducted, but you need clear records to support the claims. A bookkeeper can help you identify what you can legally deduct.
4. Talk to a Bookkeeper (That’s Us!)
Tax time is smoother when your books are accurate. We can help you:
Finalise your monthly or quarterly reports
Prepare your BAS
Reconcile your accounts
Ensure your data is clean before you hand it over to your accountant
Peace of mind starts with good bookkeeping.
5. Start Early
Don't wait until June to get your books in order. Starting early means:
✔️ No last-minute scrambling
✔️ Fewer mistakes
✔️ Time to make smart financial decisions before the year ends
At The Bookkeeper’s Touch, we believe tax time should feel organised, not overwhelming. Whether you need full bookkeeping support or just help getting ready for year-end, we’re here with a calm, clear approach.
📩 Need help preparing for tax time?
Book Your Consultation — let’s get your books sorted stress-free.