5 Small Business Tools to Get Organized for Tax Season

Small businesses rank taxes as their second largest problem, according to a September 2013 survey by the NFIB Research Foundation. Government regulations and red tape ranked as the only larger problem, netting 6 percentage points higher than taxes. Many small business owners struggle with their taxes because they do not have the resources or knowledge to do taxes efficiently, and may not have the budget to hire an accountant to do their business taxes. This tax season, ease the pain of small business taxes with these five tools geared for the small business owner without significant accounting expertise.

iXpenseIt — The iXpenseIt app ($4.99), was rated one of the 50 most useful iPhone apps by Laptop Magazine. The app allows you to track daily expenses and enter expense data on the go. Or import it, generate reports directly on your device, submit reimbursement requests, snap receipt photos to store and track income and cash flow. These budgeting utilities come in hand on a daily basis and can also help you get organized for tax time. — Fledgling business owners, freelancers and other can be confused by the quarterly estimated payments required by the IRS. For help with this and other small business tax questions, turn to, the Small Business Administration’s website. The SBA can walk you through filing quarterly tax payments, determining tax obligations, obtaining business loans, collecting sales tax over the Internet and other important issues.

Payroll tax solution — For small business owners who don’t have a dedicated business manager, a payroll tax solution provider makes handling staff withholding a snap. Enter employee hours worked into the payroll solution to see automated calculations of tax withholding. Have federal government and state forms automatically created for you, then file the reporting agency paperwork with a click. Not only does this make your life easier and free up more time for business growth, it takes the pressure off when it comes to preparing employee tax forms for tax season. Give a payroll solution like the one from Intuit a try this year.

Small business and self-employed tax center — Normally, you wouldn’t think to go to the IRS for help with your taxes. Its small business and self-employed tax center, however, is a bastion of advice for small business owners who never took Econ in college. Learn about business expenses, depreciation, classification of your employees and other topics. Listen to videos, webinars and other presentation geared to small business owners like yourself. There’s even advice on what to do if you’re struggling with tax payments or need to file for an extension.

NeatConnect — Those who keep good documentation throughout the year are rewarded come tax time. If you’re the sort who tears apart the office every season looking for those receipts from the business conference you attended, consider NeatConnect. A portable scanner that works even when you don’t have a computer on hand, NeatConnect converts paper documents to PDF and stores them in the cloud for access later. Develop a habit of scanning every receipt that passes across your desk to CYA come tax time.
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