2014 Tax Preparation and BeyondJanuary 12th, 2015 by Integrity Accounting
Accounting can be hard for small business owners, non-profits, and other small organizations. In fact, in 2014, a Business Wire survey of 500+ small businesses reported that 40% of small business owners found accounting work to be the most unpleasant part of business ownership. The survey also shows that 46% of small business owners do not work with an accountant, and 32% do not set funds aside for income taxes.
As a small business or an entrepreneur, your job is to develop innovate products or services and deliver an amazing experience to your customers. It’s the job of an accountant to keep track of your fiscal developments, file your taxes, and make sure you’re making the most with your-hard earned income.
Tax Season Is Here
First things first – let’s take care of your taxes. Over the next couple months, we’ll be posting a series of blogs to help small businesses, government agencies, not-for-profit organizations, and individuals prepare for tax season. If you’d like to read more, be sure to subscribe to our e-newsletter. We’ll let you know when we post a new blog.
If you need more than a couple tips, we’ll be happy to consult with you about your tax preparation or take the project on if you find that it’s too much for your business.
2014 Taxes and Beyond
After taxes for 2014 have been filed, a partnership with an accounting firm can help you in the long run. Sure, Integrity Accounting can help you prepare your taxes, but a long-term partnership with can help you:
- Pay the right taxes in the right amount to make sure you steer clear of government intervention and save money
- Determine whether you need to send W2s or1099 forms for independent contractors
- File your 1099s if you are an independent contractor
- Separate personal and business expenses to avoid audits and find deductions
- Compile your numerous financial records and set up a financial reporting system that makes sense for your employees, your constituents, and the government
- File your 990s and protect your not-for-profit status (if you’re a non-profit)
- Understand your financial statements to see your businesses financial standing at a glance
- Determine the most effective entity and ownership structure for your business (LLC, sole proprietorship)
If all you need is someone to help you prepare your taxes, Integrity Accounting is here to help you and your organization. If you’re interested in developing a mutually beneficial partnership that helps with your taxes AND makes your business more strategic, we’re here for that too. Why not take 2015 as an opportunity to transform accounting from a chore into a valuable relationship?