Getting Ready to Prepare Your Small Business Tax Return
Being a small business owner is not usually a walk in the park at any time of the year, but it gets even harder around tax time. The tax filing deadline seems to approach quickly and you are scrambling to find your receipts and get your paperwork in order. Your best bet of course is to hire the professionals to help with your small business tax return in Yonkers, NY area. However, read on below for a few tips to help you with your tax return this upcoming year.
Know Your Forms
The first thing you need to realize is that there are quite a few different forms out there when it comes to filing your small business tax return in Yonkers, NY during the tax season. There are partnership forms, forms you use if you are an LLC and many more that you might not have even heard of yet. If you are unsure about the types of forms you should use, it’s best to go see a professional, so that the taxes are filled out the correct way, the first time.
Deduction for Home Offices
Some small business owners dread taking the home office deduction because it is said to cause audits from the IRS. If you have a home office however, you need to claim it. There is a simplified way of claiming that deduction now that could help you quite a bit.
These are just a few of the top tips for filling out your small business tax return in Yonkers, NY this upcoming tax season. If you feel that you need help with your return, contact the professionals at Accutax Business Center for help and any questions that you may need answers too as well.