DO I QUALIFY
Loans &
Financing
Learn more
Why Reliant
Funding
See the Difference
Industries
Served
Learn more
Activate
Your Card
Verify Account
Reviews What Others Say
Newsroom View
Blog Visit
Business Network Learn More
Partner with us Learn more
Partner Channels Explore Opportunities
Partner Portal Login
Get to know
Reliant Funding
About Us
Join
The Team
Careers
Connect Contact Us

Small Business Tax Season Woes: 4 Tips to Prepare for Next Year NOW

It’s tax time.  If you’ve already filed and everything was smooth and organized, this article isn’t for you. This is for those currently digging through piles of records and unorganized receipt folders, promising themselves to be better prepared for the next year. It happens. We’re all human and lead busy lives, especially business owners. Although it may be too late to save you from yourself this year, now is the time to get organized for next.  Here’s how:

#1 Organize Your Records- All Year Round

By setting up a filing system right from the start, you can bypass the headache. A great approach is to invest in accounting software. Your checking accounts can be linked to the software, cutting down on data entry. Those financial records can also be linked with whichever tax preparation software you use, which shortens the time it takes to file a return.  Another reason for keeping good records: Owners need to provide financial numbers for potential lenders or investors.

#2 Know Your Deductions

There are often missed deductions which are associated with home offices, meals/entertainment and travel. Track all of these things closely throughout the year as they can be huge for a small businesses owner who is usually always working. See the NFIB’s resource on Commonly Missed Deductions. Also, check out Section 179 Deduction  for a clear idea of what else you can deduct.  Tax laws are complicated, but a tax professional can identify tax breaks and deductions you might otherwise miss.

#3 Hire an Accountant Now

An accountant or CPA can keep you on track, answer any questions and provide you with information and resources. Ask yourself how much your time is worth. If you get an accountant to take care of time-consuming tasks like finances and taxes, it’s likely they will cost less per hour than you would pay yourself.  This will free up your extra time to run your business and generate revenue.

#4 If You Owe

Despite all of the diligent work in preparing your tax returns, you may still have a hefty bill to pay state and Federal agencies. Our clients have discovered that there are many uses for extra cash in the spring season. One is tax payments, while others relate to potentially tax deductible facility upgrades, new equipment, payroll, and more. Feel free to call us, if we may be of assistance to you for funding.

As with anything to do with the government or taxes — if you really want to stay-top of this information, meet with your tax advisor and frequently check for updates on IRS.gov.

(Visited 1 times, 1 visits today)
By clicking "Submit", you (a) consent to receiving calls and messages, including autodialed or pre-recorded calls, from Reliant Funding using the information you provided above, including via wireless telephone numbers that could result in charges to you, (b) acknowledge that no purchase of goods or services is contingent upon such consent, (c) acknowledge that telephone calls to and from Reliant Funding may be recorded, (d) consent to receive email correspondence including advertisements for business funding and other products or services, and (e) acknowledge that you have read Reliant Funding’s Privacy Policy and understand that you may opt-out of receiving communications of your choice from Reliant Funding as provided in the Privacy Policy.

Quickly learn your
funding options.

No cost to apply. No obligation to accept.

Congratulations!

Your Reliant Funding application has been received.

You will be receiving a call shortly and we look forward to learning more about your business and funding needs.

By clicking the "Submit" button I agree to all terms and conditions.
GET QUOTE NOW
Trustpilot
We respect your privacy and will never sell or share your personal information.

Before you leave...

Please tell us about yourself.

Congratulations!

Your Reliant Funding application has been received.

You will be receiving a call shortly and we look forward to learning more about your business and funding needs.

'Fast. Simple. Flexible. Request A Quote Today!'

'Congratulations, Your Application is Now 50% Complete!'

'Let us know who to contact once the funding details are available and we’ll be in touch immediately.'

APPLY NOW
GET STARTED TODAY!
Trustpilot
[cms-block title="CTA Popup - disclaimer (english)"]
previous | refresh
1