As you know, filing taxes isn’t always simple. Over one third of small business owners say they spend upwards of 80 hours on taxes each year.
In fact, you’ve told us how tough it can be. In a survey we conducted last year, Thumbtack professionals reported that complying with the state or local tax rules was one of the biggest problems they faced in their business.
There’s a ton of tax advice out there to make compliance easier, including on our own blog. This month we decided to dig a little deeper and round up some more helpful resources for pros like you.
If this is your first time filing taxes, keep this CPA’s top tip in mind: Be clear about what kind of return you need to file.
Sole proprietorship? LLC? S Corp? This tool helps you choose which type of business structure is best for you.
If your business requires you to spend a lot of time on the road, make sure you’re getting the most out of your vehicle expenses.
Cell phone? Dining? Entertainment? Travel? Vehicle expenses aren’t the only deductions available. Here are some tips on how to best deduct your work-related expenses.
If you’ve got a brick and mortar shop, take another deduction for installing an energy-friendly system — and if you hired any of your children, deduct for them too.
And watch out for ghost assets!
Need more help?
Here are four places to find tax help (where you might not have already thought to look).
And sometimes it’s well worth it to hire a professional. Hire a Thumbtack Pro for your taxes or accounting.
Is this useful? Did we miss something? What else can we do to help your business?
Drop us a line via email or tweet us at #AskThumbtack.
Quick — and important — disclosure: we’re sharing articles we found helpful for informational purposes only. Please seek appropriate financial and legal counsel for assistance.