Tax Resources

As a small business owner, you wear many hats. You’re a salesperson, marketer, manufacturer, delivery driver, manager, and an accountant. Some of those roles you might fit quite nicely; others might take some work. Eventually, a successful small business owner will need to delegate some of those tasks, whether it’s to employees or an outside provider.

One of the areas in which many businesses look for help is taxes. It’s no wonder; the tax code can be complex, and mistakes on your taxes can cost you severe penalties (or at least a higher tax bill than what you ought to owe).

Here are some signs that you might need a tax preparation service Your business deals with inventory or large… Read more →

Your small business rises and falls on efficiency and professionalism. If the people doing your work aren’t talented and precise, it will cost you money and hurt your business. This principle extends outside of your core business to every aspect, including things like accounting and tax preparation.

When you’re hiring a tax preparer, there are some specific questions you need to put out there and see where they stand. Before you hire a tax professional, ask these 10 questions of your tax preparer;

What are your professional designations? Depending on the type of tax preparer you’re working with, there are usually licensing and industry requirements. For example, CPAs have to meet specific criteria, and they’re able to represent your… Read more →

Having a small business can, for some people, actually be beneficial in terms of taxes. The amounts and types of deductions you can qualify for can, especially for a business in its early days that isn’t making much money yet, put you in a position where you owe very little in taxes.

While you work hard to make sure that all of your financial information is in order and that you’ve properly filled out your tax return forms, sometimes errors happen. When they do, you may have your tax returns rejected by the IRS. You’ll be responsible for amending and resubmitting it. Keep in mind that the vast majority of E-filed tax returns rejected are due to simple math errors … Read more →

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