When I started Life, Tailored, my goal was to build a business that allowed me to write about the things in life that I love. Over time I’ve built up an audience, advertisers, and that dream is coming closer to reality.
With that success comes the other reality. The reality of running a small business, and paying taxes.
I run all of my invoices and accounting through Quickbooks, and it’s really easy to keep things in check.
When I’m on the road, I can use the app to check on billings, and when I’m back on my computer I can use the website to track everything; it’s great.
So I wanted to review Quickbooks and let you know why it may be a fit for your small business this coming 2017′ tax season.
Easiest Tax Prep Software for Small Businesses
As a small business, it’s imperative that you make sure that your finances are monitored closely and diligently so that when tax season rolls around, you can file properly without the risk of being audited. If you have used a professional to prepare your taxes in the past, you know how costly it can be and how long it can take. Fortunately, there is accounting software for tracking payments that can make this process even easier. Quickbooks is by far the most trusted program, so let’s see how this software can help you this tax season.
Prepare Your Yearly Report
A big part of your tax preparation is in knowing how much money you made in the last fiscal year, and how much you spent on your business. Because you can deduct some of your expenses, it’s important that you have everything listed out correctly. Thankfully, Quickbooks accounting software makes this easy by allowing you to create and print an end-of-year report. This sheet will give you an overview of everything you’ve done financially in the past year, which means that you can enter your information in much easier and faster.
Create an Accountant’s Copy
If you still wish to file with a professional so as to figure out tax credits or deductions, you can create a copy of all of your finances and print it out so that your accountant can have all of the information he or she needs in one consolidated document. No longer will you have to keep and store receipts, now you can provide a detailed report that will outline everything.
Import Your Information Directly
Because Quickbooks for small business is owned by Intuit, that means that if you file yourself through Turbotax, you can import your information directly without having to go through each line item manually. This will make sure that you can file quickly and efficiently and without error.
Overall, Quickbooks makes it easier than ever to file taxes. Never again will you have to fear tax time and dread the process of entering in your financial information.