Paying Small Business Taxes
A few years ago, I decided to abandon the career path I was on in order to go back to college. While in college for the second time, I pursued a degree in English education. After many months of searching for the perfect teaching position after graduating college, I decided to start a home based business. I’ve been working for myself for the past two years. And, I’ve never looked back. Unfortunately, I struggled with bookkeeping at first. I didn’t know how to pay the quarterly estimated income taxes that were required of me by the federal government. If you’re starting a small business, you should consider hiring an accountant to help you with your taxes. On this blog, you will discover how an accountant can help you survive your first year of operating a small business.
Working with a bookkeeper or accountant is one of the best decisions that new business owners can make with their company finances. Just like many other aspects of business, it's good to hire professional help when you are just learning the ropes of bookkeeping.
To help you and your bookkeeper manage your money well, here are the top four ways to make your bookkeeper happy.
Separate Personal Expenses
Mixing personal and business expenses is one of the most common errors that new entrepreneurs make.
If you are a small business, then hiring a dedicated bookkeeper can seem like a big expense. But there are many benefits to having someone whose job is exclusively focused on keeping your books in order. Here are some of the biggest value services provided by bookkeeping services.
Presenting Correct Invoices to Clients
Bookkeepers are there to catch errors in your books before they cause problems. One of these major problems is in presenting incorrect invoices to your clients.
Preparing taxes is a very important part of your family budget. If you don't understand what kinds of deductions you qualify for and what kind of credits you can get, you could easily overpay on your taxes. This is why it is important that before you file your taxes that you understand what to look for. Here are some easy deductions and credits that you may not know about that could save you money.