Tax season is upon us, and the filing deadline is approaching fast. Partnerships and S-Corps must file by March 15 unless they apply for a six-month extension, while individual income taxes are due by April 15. If your business operates on a fiscal year basis, your tax return will be due on or before the 15th day of the third or fourth month after the close of your recent fiscal year. In any of these cases, the time to file is either here or soon. Intuit’s QuickBooks Online can help with the process, especially if you’re a small to medium-sized business and trying to do all the work yourself.
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Why you should give QuickBooks Online a try
As a financial and bookkeeping suite, it’s crucial to point out that QuickBooks Online can help you with much more than your taxes, filing, and basic expenses. It’s a one-stop shop for business finances, in general, from managing and paying bills to handling employee payroll, tracking inventory, managing receipts and invoices with clients or partners, and much more.
For example, here are some of the features you can expect from Simple Start, the lowest tier of QuickBooks Online:
- Assistance maximizing tax deductions
- Free guided QuickBooks setup
- Bookkeeping automation
- Income and expense tracking
- Receipt capture and organization options
- Mileage tracking
- Cash flow management
- Invoicing and payments
- Sales and sales tax tracking
- 1099 contractor management
- E-commerce support
That’s a lot already, but with the higher tiers, like Plus or Advanced, you get even more:
- Support for multiple users
- Comprehensive and powerful reporting tools
- Multi-currency transaction support
- Bill-pay and expense management solutions
- Project profitability tracking
- Inventory tracking
- Financial planning
- Much more
A list makes it easy to see what features to expect, but it doesn’t necessarily give you an idea of how helpful a platform or service will be for your business. Some of the features above, for instance, you may not need or use.
If you haven’t filed yet, need help organizing your tax information, or just have some questions, QuickBooks Online offers an excellent way to kickstart the whole process. And if you stick around after filing, you’ll get all the additional features to help you manage finances throughout the year, so during next year’s tax season, you’ll be ready to rock and roll before the deadline.
