Tax season can be complicated, especially for businesses. This advice from tax experts can help make managing your taxes easier.
Keeping up with tax obligations and setting money aside to meet your liability is an important part of running your business.
The tax tips from experts quoted in this article can help make your business’s tax compliance easier and less painful.
Good tax planning and preparation can save you money and improve cash flow.
This article is for small business owners who want to lower the stress of tax compliance while saving money on their tax bill.
If you haven’t finished your taxes yet, don’t panic.
You’re much more likely to make mistakes if you’re under stress and feeling rushed. Take a deep breath and set aside some time to tackle your taxes with a clear mind.
We’ve put together five last-minute tax tips to help you avoid common mistakes, save money, and set yourself up for greater financial success.
1. Know the facts
In the U.S., personal tax returns are due April 18, 2022. Unlike in 2020 and 2021, the IRS is sticking to its deadline this year.
But there are still pandemic-related complexities to consider. Work with your tax advisor to review any stimulus payments or Advance Child Tax Credits you received to ensure you received the appropriate amounts.