All in Accounting
Preparing for tax season is really a year-round endeavor. Tip number one for SMB owners is to update financials on a monthly basis, using a streamlined software or cloud-based system.
This way, come tax time, everything you need is all in one place. And well-organized SMBs are better positioned to minimize their tax bill while avoiding penalties associated with missing or inaccurate information.
Here are four more ways to take the stress out of tax time, and get the most out of your return.
Bookkeepers take care of the daily financial records for your business and make sure your books balance. They create and send invoices, track receipts, and reimbursements, reconcile accounts and prepare certain financial reports. All the frustrating day-to-day financial stuff that you probably dislike, they love.
Bookkeepers are a great investment for your small business, for a number of reasons.
Very few business owners have the means to operate without borrowing at start up, or later on when it’s time to invest in growth.
Borrowing, however, is only a temporary solution to a lack of funds. Without a repayment plan debt can grow into an unmanageable problem that costs much more than the initial loan.
These strategies will help you re-pay your debt faster, so you can invest the cash you’ve been spending on interest back into your business.
