New Year, New Tax Season!
2019 is almost here, and that means so is tax season. While we usually take a moment to discuss taxes and your business, we want to change it up and say just how thankful we are of each and every one of you. As a local business, we are appreciative of every person who walks through our doors in need of tax preparation or understanding. We enjoy working with local business professionals who seek our services.
In the new year, we hope that you continue to look to Pathways as a company you can trust and call on. You can keep up to date on our company, local events, and other fun topics through our social media, so be sure to give us a follow!
Facebook: Pathways Consulting, LLC
LinkedIn: Nanette Slappey West
Thank you, and Happy New Year from all of us at Pathways!
Why Use A Professional Tax Service For Your Business?
When it comes to filing taxes for your business, you don’t want to end up with mistakes and money lost. To ensure a proper filing process, using a professional tax service is recommended. At Pathways, instead of just filing your taxes for you, we try our best to help you understand your taxes thoroughly. So, how do you file taxes for a small business, and why is it important to use a professional?
Keep All Records
Record keeping is the most important step in the tax filing process for businesses. If there is no record, it never happened, and therefore makes it much more difficult to get correct information. In the process of keeping data, we suggest using a bookkeeping service like Quickbooks to store information used within the filing process.
Use The Correct Form
It is important to know the differences between the tax forms and which is appropriate for a business. The form most used for small businesses is a Schedule C or Form 1120. Schedule C is a simple form that is easier to calculate and input information.
Deadlines are Real
To make the filing process the easiest, be aware of the filing deadline for taxes on small businesses. We are very serious when it comes to this because of the repercussions that may occur due to late filing.
Pathways is here to help your business breeze through tax season, so why not make your appointment today?
Tax season is quickly approaching, and Pathways wants to ensure that your business has their taxes under wraps! Here are a few tax tips for your business!
Use Quickbooks Payroll
When it comes to payroll, it can be difficult to manage by hand and keep up with all the employees of your business. In order to combat that, and provide relief come tax time, we recommend using Quickbooks payroll!
File your Taxes on Time
Many have been there, in crunch time, and end up missing the deadline for their taxes. Don't let that be you with your business. Ensure you get your taxes done on time, if not early, by using Pathways! Call and schedule your appointment today!
Take Deductions Seriously
When it comes to taxes and running a business, it helps to know what deductions you can file for and have. It is best to communicate with a Pathways team member to discuss the deductions that you and your business qualify for.
We hope to see you soon for your tax appointment, make sure to get everything you need to get done early so you do not have to pay any late fees come 2019!
Tax Planning: Why it is Important
We have talked in the past of how important organization is to how you approach your taxes. We may not need to remind you but tax season is approaching quickly and you need to be prepared. We suggest you start planning your taxes now, so here are a few ways you can start planning your taxes in advance to make the January tax season simple.
Tax planning can be done throughout the year by taking into consideration tax law provisions, tax breaks, and using every tax credit and deduction available to you. Take advantage of the legal ways you can save on your taxes, if you do not understand the ways listed above, come into Pathways and sit down with an expert who will explain everything to you.
It is also important that when your tax planning you take the time for financial planning. The last thing anybody wants to do is get to tax time and realize that they owe money on taxes. If you plan financially to have money saved up for this specific reason, tax season will come as less of a shock.
Everyone knows how stressful tax season can be but with the above tips you can ensure your tax season will run smoothly. If you would rather meet with an expert to sit down and ask your questions, please feel free to contact Pathways for an appointment.
The Pathways Team