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Moving your accounting solution to the cloud can help keep you organized with little to no effort on your part.
Running a small or home-based business can be extremely rewarding, but it’s about more than just making sure that deadlines are met and that enough products are sold. Sometimes the little things, like staying organized and up-to-date for the tax season, can get overlooked.
Juggling small business taxes is no small feat, but never fear. If you’re a small business owner, you’re in luck! We’ve come up with a couple of suggestions on how to maintain your Zen and help your company make it through not just this tax season, but every tax season in the future with ease.
The best thing to do when tax time rolls around is to simply bite the bullet and get it done! Waiting to file often means rushing to complete everything at the last minute, which can often result in missed opportunities and an increased risk of making an error or two while you’re hurrying to get everything completed and in on time.
Staying organized is the number one rule of success during tax season. If you’ve carefully saved your receipts, logged all of your income, and managed to keep track of every one of those pieces paper that make up your company’s accounting department, then you’re in luck and ready to roll through tax season.
For those looking for a solution to keep everything running smoothly throughout 2015, moving your accounting solution to the cloud can help keep you organized with little to no effort on your part. Not to mention, there’s an added benefit in that you’ll also be able to do away with bulky Excel spreadsheets and expensive accounting software suites, something your accountant will most likely thank you for. To get started, check out invoice management apps like eSlip, or a full accounting solution like Kashoo and Wave. All three of these apps offer affordable solutions to help keep your finances organized throughout 2015.
Stay focused on the important things
Not everything is essential to your company’s tax life. Figure out exactly what you need when you file your taxes and once you know what is important, make sure you find a safe place for each of those receipts, like Shoebox. Shoebox is an app that grants you a safe place to keep all of your important receipts and payment notices, perfect for keeping you organized when tax time rolls around.
The same goes for distractions around the office during tax season. When you first begin the process, make sure you stay focused on the task at hand. Try not to get interrupted and set due dates and project deadlines after tax time. By clearing out your schedule of any possible conflicts, you’ll have enough time to finish your taxes before that April deadline.
Don’t be afraid of professional advice
If you feel a little overwhelmed and don’t quite know where to turn next, don’t be afraid to seek out professional advice. Having someone well-versed in tax law and policies glance over over your taxes before they go out can help catch mistakes or missing information. Not to mention, you’ll also attain the peace of mind to go back to doing what you do best: managing your business and focusing on its growth.
Take the time to double check
Once you’ve finished your taxes and signed everywhere you needed to, take a step back. All that’s left before you finally send off those tax documents is to double check your work. Check all of your boxes, make sure that every line is signed, every i dotted, and every t crossed. Once you’ve sent your taxes off, you’ll be able to breathe easy knowing that everything is done, signed, and stamped.
Don’t let organization be a challenge at tax time. With so many resources available, you can rest assured you’ll be fully prepared and ready to file your taxes with less stress than in past years.
What other tips do you have for small businesses out there for tax season? Share them with us below in the comments!
Jennifer Hutchison is a tech blogger currently based in Los Angeles. She got her start writing for her high school newspaper and has since, covered a wide range of topics including beauty products, travel, books, technology, and small businesses. Jennifer is a graduate of CSUN, where she majored in English with an emphasis in Creative Writing. Currently she is pleased to be serving InfoStreet in both capacities as a Content Specialist and a Customer Success Manager. In her spare time, Jennifer can be found outdoors with her camera in hand.
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