Got taxes on your mind? Here’s a roundup of our favorite tax season advice to get past that looming April deadline stress-free.
We’re less than a month away from the dreaded April 17th tax deadline. How are you feeling?
The saying continues to ring true: Nothing can be said to be certain, except death and taxes. So despite the angst you might be feeling, it’s got to be done—this year, next year and the year after that. How do we make it a little more bearable? All it takes it a little preparation and the right encouragement!
To ease your worries, we arm you with the tax advice you need to get through the April funk in this tax season roundup.
Key Documents for Tax Time
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)
Key Performance Indicators (KPIs) You Should Track for Your Small Business
A 2016 survey by Geckoboard found that nearly half of small and medium-sized business owners have failed to identify any Key Performance Indicators (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 general ledger is very much a part of the accounting process. But the ledger is more than a master document and it’s certainly more than just another accounting record. (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)
US 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-MISC form. (Read More)
US Tax 101: What Is an IRS 1099-MISC Form?
Form 1099-MISC is used to report miscellaneous payments made to non-employees, such as independent contractors. Read more to find out how this affects you, the small business owner. (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 a W-8BEN Form. (Read More)
How Long Should You Actually Keep Your Business Records?
Record keeping isn’t fun. And outside of the tax world, there are few rules and little guidance on exactly what should be kept and for how long. Conventional wisdom when it comes to documentation is “better safe than sorry.” (Read More)
Tax Preparation & Audit Tips
Tackle Tax Season Early in 2018: 5 Tips to Get a Head Start
Filing early has a number of benefits. You can get your money faster if you’re expecting a refund or have more time to pay if you expect to owe. And of course, filing early can help you avoid being a victim of tax refund fraud by filing your return before the scammers have a chance to submit one for you. (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 one-in-three small businesses report spending more than 80 hours—two 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. So how can cloud accounting help? (Read More)
Small Business Owners: 5 Money-Saving Tax Tips
Tax time can be a stressful time if you waited until the last minute instead of preparing throughout the year. So here are five 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)
Home-Based 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 may have a received a tax form (W2 in the US) from a single employer. However, flying solo, you’ve also got plenty of opportunities to trim your tax bill. (Read More)
Fight Your Tax Fears: Do These 5 Things to Pass a Tax Audit
In 2015, the IRS audited 0.7 percent of all individual tax returns filed and 1.1 percent of corporate income 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)
U.S. Tax Reform & Small Business
Small Businesses: How the US Tax Reform Might Impact You
We can take a look at the proposals, their potential impact on small business owners, and what small business owners think about what’s happening on Capitol Hill right now. (Read More)
The US Tax Cuts and Jobs Act: 4 Loopholes You Can Capitalize On
It’s no surprise that even before Congress finalized the Tax Cuts and Jobs Act (TCJA), accountants, tax attorneys and financial advisors were hard at work dissecting drafts of the bill in search of ways to game the system. That hard work will no doubt pay off for their clients, especially for pass-through entities. (Read More)