It’s That Time of Year Again! A Roundup of Tax Season Advice

Got taxes on your mind? Here’s a roundup of our favorite tax season advice to get past that looming deadline stress-free.

tax season advice

The saying continues to ring true: In this world, nothing can be said to be certain, except death and taxes. So despite the dread you might be feeling before the tax filing deadline, it’s got to be done—this year, next year, and the year after that. How can you make it a little more bearable? All it takes is a little preparation and the right encouragement!

To ease your worries, arm yourself with the tax season advice you need to get through the April funk.

 

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Key Tax Documents

3 Reports You Can’t Live Without at Tax Time

You can use these reports as a jumping-off point to get familiarized with your taxes—and tackle them a little earlier this year. (Read More)

Track These Key Performance Indicators (KPIs) for Your Small Business

A 2016 survey by Geckoboard found that nearly half of small- and medium-sized business owners failed to identify any KPIs. If you’re not monitoring KPIs, you’re losing out! (Read More)

Now’s the Time to Learn to Love Your General Ledger

The ledger is more than a master document, and it’s certainly more than just another accounting record. It can be the most important reporting tool for your business if used correctly. (Read More)

Why You Should Track Your Business Expenses Daily

Expense tracking is beneficial despite how mundane the task can be. But, saving you time and stress in tax preparation is just the tip of the iceberg. (Read More)

A Friendly Guide to Schedule C Tax Forms (U.S.)

Who needs to use Schedule C, and how can you navigate the form? This guide will help you make sense of the rules. (Read More)

U.S. Tax 101: What Is a W9 Form?

When a business requests a W9 form, they use it to ensure they have the correct information to prepare a 1099-NEC form. (Read More)

U.S. Tax: What Is an IRS 1099-NEC Form?

Form 1099-NEC is used to report miscellaneous payments made to non-employees, such as independent contractors. (Read More)

Form 1099-K: What U.S. Small Business Owners Need to Know

If you accept credit card payments or payments through a 3rd-party network, you’ll want to pay attention to the 1099-K. (Read More)

U.S. Tax Form 8829—Expenses for Business Use of Your Home

If you run your business from home, Form 8829 is for you! This is the tax form you need to fill out to claim your home office expenses. (Read More)

Canada Tax 101: What Is a W-8BEN Form?

Are you a Canadian resident or sole proprietor who receives payment from U.S. companies? You need to know about Form W-8BEN. (Read More)

How Long Should You Keep Your U.S. Business Records?

When is the right time to get rid of old paperwork? Outside of the tax world, there are few rules and little guidance on exactly what should be kept and for how long. The best rule of thumb: “Better safe than sorry.” (Read More)



Tax Season Advice

Everything You Need to Know About How to Lower Self-Employment Taxes in the U.S.

If you don’t understand how to lower your self-employment taxes, you might be paying more than you need to. We’re here to make sure that doesn’t happen. (Read More)

7 Smart U.S. Tax Questions to Ask Your Accountant at Tax Time

Prepping for your tax-time meeting with your accountant but not sure what to ask? Get a head start planning your strategy for next year with these tax questions. (Read More)

Home-Based U.S. Business Owners: 10 Tips to Ensure a Smooth Tax Season

When you file taxes as a solo business owner, things are more complicated than those days when you received a tax form from a single employer. However, even when flying solo, you’ve also got plenty of opportunities to trim your tax bill. (Read More)

Small Business Owners: 5 Money-Saving U.S. Tax Tips

Tax time can be stressful if you wait until the last minute. So here are 5 money-saving tax tips that will not only help small business owners prepare for this filing season but make tax time less painful for years to come. (Read More)

Why the Cloud Is Your Ally at Tax Time—and Beyond

The National Small Business Association’s 2017 Small Business Taxation Survey found that 1-in-3 small businesses report spending more than 80 hours—2 full work weeks—each year on federal taxes. That’s time spent organizing, planning, and preparing taxes that could be spent working with clients, growing your business, or enjoying life. Here’s how cloud accounting can help. (Read More)

7 Tax Terms U.S. Entrepreneurs Should Know

These are important tax terms that self-employed business owners must know, and more importantly, why they’re critical to understand. (Read More)

Partners to Help You Prepare for Tax Season

From invoicing to capturing expenses on the go, you’ve mastered the basics of entrepreneur life as a FreshBooks customer. But that doesn’t make it challenge-free, right? As a small business owner, you need a Swiss Army knife of tools at your disposal. (Read More)

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Tax Audit Tips

Still Waiting on Your U.S. Tax Refund? Here Are the Reasons for the Hold-Up

Like it or not, most people wait about 3 weeks for a tax refund but errors, oversights, identity theft, or claiming certain refundable credits can lead to even longer delays. Here are 5 reasons why your tax refund is delayed and what you can do about it. (Read More)

U.S. Small Business Tax Audit: The Ultimate Guide

The word “audit” can cause fear and anxiety in even the calmest business owner—but it doesn’t need to. Knowledge is power. Here’s everything you need to know about a small business tax audit. (Read More)

Fight Your Tax Fears: Do These 5 Things to Pass a U.S. Tax Audit

For all returns filed from 2010 to 2018, the IRS audited 0.63% of individual returns and 1% of corporate income tax returns. But if your business is one of the “lucky” few, taking the appropriate steps can help ensure this stressful event leads to a more favorable outcome. (Read More)

This post was updated in January 2022.

Reviewed for accuracy by Janet Berry-Johnson, CPA.



Daniel Reiter
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Editor-in-Chief, FreshBooks Daniel Reiter is the Editor-in-Chief at FreshBooks. There's absolutely nothing out of the ordinary about him.

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