Hello Hi!,

As you start preparing for upcoming tax season, you may remember your thoughts from earlier this year such as 'I wish I didn't have to do that again' or maybe you even said 'Wow, how can I get that type of refund again!'.

These thoughts produce an opportunity to reflect on strategies to implement for the 2024 tax year to prevent penalties, increase chances for a refund, and reduce the stress and burden of accounting on top of the duties of running the AFC.

3 steps for 2024 tax success

Greg Scholten from On Track Accounting, a specialist in accounting for profit and non-profit AFC homes, and speaker at the Scaling Up Conference, shares 3 steps for 2024 tax success:

• Keep good books

• Analyze financials monthly or quarterly

• Conduct quarterly tax planning reviews

The result

By following the 3 steps of tax success, you set your organization up for the most financial success. These tips also create the habits to grow or to sell your business someday.

If you run a non-profit AFC, these steps confirm you have enough money to continue the vision and purpose of the organization.

These 3 steps empower you and prevent tax surprises at the end of the year. They also set you up for less anxiety, less hassle, and fewer tax consequences at the end of the year.

Looking for other resources?

You don't have to figure it out on your own. Care Provider Solutions provides resources and tools in each of our courses tailored specifically to the topics that cause the most anxiety and stress. We can help you resolve these struggles.