Are You Prepared for Filing Taxes?

4 Things Business Owners Should Know Before Filing Income Taxes 📊💰

Tax season is here! Before you file, make sure you’ve covered these key areas to avoid costly mistakes and maximize deductions. 👇

1️⃣ Ensure All Income is Reported🔹 Cross-check bank deposits with sales records.🔹 Don’t forget 1099-NEC/MISC forms for contractor payments.

2️⃣ Verify Expense Categorization🔹 Misclassified expenses can trigger audits.🔹 Ensure personal and business expenses are separate.

3️⃣ Maximize Deductions & Credits🔹 Review overlooked deductions like home office or mileage.🔹 Check eligibility for tax credits like R&D or energy incentives.

4️⃣ Plan for Future Tax Liabilities🔹 Set aside estimated tax payments to avoid penalties.🔹 Consult a tax pro to optimize next year’s tax strategy.

💡 Need help cleaning up your books before filing? Let's talk!

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