The document discusses some of the tax challenges businesses are facing this tax season. Geri Boyer, founder of Kaskaskia Engineering Group, notes that tax extenders make tax planning more difficult this year than last due to some provisions being extended through 2019 while others are only through 2016. Darlene Sowell of Neighborhood Houses says her company's accounting system has improved with technological advances but records still need to be accurate for tax season. Both women emphasize relying on an outside CPA firm for tax preparation advice and questions about changes.

1. Overcoming Tax Challenges
FINANCIAL FITNESS MARCH 2016
Reprinted by permission of the St. Louis Small Business Monthly
W
hile taxes are one of the two certainties
in life, right alongside death, the
issues that organizations face can vary
drastically. To give us a better idea of what issues
businesses are facing, we asked some top women
in business for an inside look at their tax-season
strategies.
• “The biggest issue our business is facing this
tax season is tax extenders,” says Geri Boyer,
founder and managing partner of Kaskaskia
Engineering Group. “They make tax planning
more challenging in 2015 than it was the
previous year.”
While the Protecting Americans from Tax Hikes
(PATH) Act of 2015 includes several permanent
and temporary extensions for individuals and
businesses, they are not uniform and can
therefore provide some trouble. Some tax breaks
are extended through 2019 and others through
2016, so make sure your tax plan addresses these
differences.
• “Our accounting system has changed
significantly over the last few years,”
says Darlene Sowell, president and CEO of
Neighborhood Houses. “It has improved with
technological advancements.”
Make sure your records are up to date and
accurate so that come tax season, you aren’t
scrambling to make last-minute changes. If
you haven’t done so, it may be time to look
into upgrades in technology or changes in your
accounting method to accommodate your
growing organization.
• “Our best resource is our outside CPA/
accounting firm,” says Boyer.
“We rely on our accounting firm and auditor for
advice on tax prep,” says Sowell.
If you are ever in doubt or have questions
about changes, don’t hesitate to contact your
tax adviser. He or she can make a measurable
difference! n
Karen Stern (314-983-1204 or kstern@
bswllc.com) is partner in charge of BSW
Entrepreneurial Services Group, which
provides small business tax and accounting
services.
BY KAREN STERN