By Gabby Printz | March 4, 2011
It’s that time of year again, and every online resource for small business has some form of the “tax tips” post (see our roundup below). But we’d also like to acknowledge that this is the time of year to get organized for filing for 2011. For small business owners (and the self-employed), most tax preparation actually comes during the tax year: collecting receipts, tracking expenses, measuring revenue, etc. Make sure that you have a good accounting system that you can keep up with, and pay attention to the changes to tax law in the upcoming year. Inc. Magazine has a great article outlining what you need to do to prepare for next year.
But for now, April 15th is looming, so let’s see what advice is out there for completing your 2010 tax return:
- AllBusiness.com offers this comprehensive list small business tax tips (be sure to check out all three pages): http://www.allbusiness.com/accounting-reporting/corporate-taxes/2975296-1.html
- Inc. Magazine has seven tips for the Home-Based Business: http://www.inc.com/guides/201102/small-business-tax-tips-for-home-based-businesses.html and this advice for the Sole-Proprietor: http://www.inc.com/guides/201101/how-to-find-a-tax-preparer-for-your-small-business.html
- Entrepreneur Magazine reminds you about these small business tax breaks: http://www.entrepreneur.com/article/217811
- And of course, the IRS’ “Filing Season Central” for Small Business and Self-Employed filers: http://www.irs.gov/businesses/small/article/0,,id=134947,00.html
How are you filing this year? What are your tax issues? Let us know in a comment below!