This content was produced in partnership with Intuit.
Whether this is your first year filing taxes for your small business, or this has been a longstanding task, it’s not something you have to do alone — we’ll get to where you can find help in a bit. The entire process can be complex, intimidating, and time-consuming, especially if you’re handling all of the accounting and filing manually. What forms are you supposed to use? What documents and resources do you need to complete the filing? Are you eligible for any deductions? You see when filing personal taxes, there are a lot of different tools you can fall back on, like Intuit’s well-known Turbotax suite. But things are a little different when you’re filing as a business. There’s a lot more to think about, such as profits and losses, sales taxes, property taxes, excise taxes, employment taxes, and even self-employment taxes. Where do you start?
Don’t worry if you’re overwhelmed because Intuit has your back, and QuickBooks Online is precisely the tool, and support you need. For starters, you can begin reading about what’s required of you, and Intuit has an excellent library of business tax guides and resources you can use. If you don’t know where to start, or what you should even be doing, definitely give them a read. For now, we’re going to discuss QuickBooks, and QuickBooks Payroll, to explore how they can help with business taxes both during the actual filing process and throughout the year leading up to the next tax season. Listen up GenZ and Millennial entrepreneurs, this one’s for you because business tax management with QuickBooks is simple and stress-free.
QuickBooks Online: Setting You Up to Succeed
Waiting until the last minute to get your accounting and books in order is not the best approach. But when you’re faced with a seemingly insurmountable task, what’s the best way to get it done? Baby steps. You dive in and take it little by little, day by day until eventually, the task is well on its way or near complete. It’s the same idea here with business taxes. Rather than waiting until the end of the year and just before tax season to get everything in order, you can use QuickBooks’ excellent tools to keep everything organized and tracked throughout the year.
QuickBooks makes it easy to bring your books up to date, and keep them updated, categorize your transactions, reconcile outstanding or maintainable accounts, generate detailed expense and financial reports, and more. You can also handle receipt capture, snapping photos of receipts and expenses right from your phone and uploading them to the QuickBooks platform. That helps you stay aligned no matter where you are, across all of your devices, including mobile and desktop. Most entrepreneurs are always on the move so it makes a lot of sense to have a toolset you can access, update, and manage from anywhere. As you can see, business tax management with QuickBooks is pretty convenient.
You Deserve a Stress-Free Tax Time
Again, waiting until the end of the year, and just before tax season, to start organizing your business finances and getting your books in order, is going to make for one extremely anxiety-induced experience. There’s really no need for it, especially when you can get access to tools like QuickBooks Online, or QuickBooks Payroll — which even helps you manage employee-related expenses and payouts. They sync together, making the entire financial process that much simpler. Yes, you can hire an accountant to do it all for you, but the chances are, most small businesses don’t have the budget to make that a reality, which means you’re stuck doing it all yourself. You deserve a stress-free tax time, and it’s much easier to go in with those books in order.
Here are just some of the business-related finance tasks that QuickBooks can help with:
- Maximizing and applying tax deductions
- Tracking mileage and fuel expenses
- Managing cash flow
- Sending product, service, or expense estimates
- Managing 1099 contractors and freelancers
- Paying business-related bills
- Tracking time spent or inventory
- Understanding project profitability
- Invoicing, sending, and accepting payments
- Tracking income, expenses, profits, and more
- Finance app integrations with PayPal, Square, Shopify, and more
At any time, you can benefit from knowledgeable agents and tax experts, as well. If you have questions, need some help figuring things out, or just want someone to check your work, that’s all possible with QuickBooks Online. You may sit down at your desk, or in your work area by yourself, but you’re never alone when filing or trying to organize your business finances.
Get the Help You Need Now with QuickBooks Online
Now is the perfect time to sign up for QuickBooks Online if you haven’t already, for several reasons, the first of which is, its tax season. But also, new customers can save up to 50% by signing up now, while the current deal is active. Where normally you’d pay $30 per month for the Simple Start plan, you can lock in $15 per month for your first three months, saving you about $45 in total. Alternatively, the Plus plan — which offers a few more features — would be $85 per month, but is instead $42 per month for your first three months, saving you about $129. Don’t waste too much time deciding because taxes are due soon, if you haven’t already filed, and this deal won’t last forever. It’s one of the best decisions you can make for your small business finances.
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