If you’re  a business owner you know the dread and doom that comes with feeling unprepared for tax season. With constantly changing rules and one-off exceptions it can be difficult to conceptualize the best way to file. At QBO Hero we live, breath, and love helping our clients best prepare for tax season. With a large team of QuickBooks online experts we are able able to give you individualized attention and unparalleled service. Here are a few of our favorite tax filing tips:

 

Don’t File Late

 

The most obvious of all tax filing tips is to file on time!! While many business owners worry about filing taxes because they can’t afford to flip the bill, you may be in a world of hurt if you don’t follow the IRS timeline. There are late penalties associated with this misstep and those could hurt way worse than the tax bill. Don’t take the risk. QuickBooks will provide plenty of reminders as the tax deadline approaches and is one of the best features of the system.

 

Categorize Appropriately

 

Appropriately categorizing expenses is also a huge part of the tax preparation process. QBO Hero is a small business and as peers in business ownership our QuickBooks online experts understand that every dollar counts. Of course, you want your expenses to appropriately line up with the IRS schedule, but you also don’t want to overlook any expenses that could be considered a business expense.

 

Our team is more than happy to help with this research and make sure you’re categorizing correctly and in a way that best benefits your business while still following code. Likewise, we’ll help you categorize in a way that protects you should the auditors come calling.

 

Let the System Fill The Blanks

 

If you’re a small business that has one or more employees or contractors you know the importance of getting your people their tax forms on time. There is a certain deadline for issuing these forms and you’ll want to make sure they look right the first go around. While ensuring form accuracy is one of the more obvious tax filing tips it is easier said than done if you don’t have the technology to fill in the blanks. Our QuickBooks online experts know this software like the back of their hands and can walk you through the process of issuing these forms quickly and efficiently.

 

Let Us Do the Work!

 

These are just a few of the many tax filing tips to consider this tax season. Hiring our team of experts ensures you can get back to what you do best: running your business! With the QuickBooks software and our QBO Team you’re taxes will be in good hands!