As a small business owner, you’ve got plenty on your plate. From hiring the right employees to overseeing the daily operations of your company, it can be challenging to find the time to manage your books.
This challenge can present a host of problems when tax season comes around. We’ve compiled the essential steps you need to follow to streamline your small business tax prep and filing process.
In this step-by-step guide, we break down the basics of filing small business taxes. Read our post in full and check out our downloadable checklist to stay on top of your small business tax prep needs.
Step 1: Understand the types of business taxes
Step 2: Select the appropriate tax forms
Step 3: Create and maintain a tax calendar
Step 4: Gather essential business tax return documentation