Taxes can feel like a maze—deadlines, rule changes, and surprise notices. The good news: with the right system and guidance, you can move confidently and pay only what you owe. Below are practical tips our team uses with clients to simplify compliance, maximize deductions, and keep books audit-ready. Explore our Tax Preparation, Bookkeeping, Outsourced Controller/CFO, and Business Consulting.

Quick Wins: Tax Tips You Can Apply This Week

Separate finances: use dedicated business bank/credit accounts to protect deductions.
Capture receipts automatically: scan or email to your accounting file; note business purpose.
Track mileage properly: use an app; keep start/end, distance, and purpose.
Review subscriptions: cancel unused tools and reclassify personal charges.
Set quarterly estimate reminders: align payments to cash flow and safe-harbor rules.

Entity & Compensation: Don’t Leave Money on the Table

Right entity at the right time: evaluate LLC vs. S-Corp vs. C-Corp based on profits and growth.
Reasonable compensation for S-Corps: plan salary vs. distributions—document it.
Retirement & benefits: SEP, Solo 401(k), HSA—use contributions to reduce taxable income.

Sales Tax & Ecommerce: Avoid Costly Surprises

Nexus checks quarterly: revenue/transaction thresholds can trigger new state filings.
Marketplace facilitator rules: confirm what the platform remits vs. what you owe.
Match to books: reconcile platform reports to sales tax filings and revenue accounts.

Documentation: Build an Audit-Ready File

Reconcile monthly: bank/credit cards; resolve uncategorized transactions ASAP.
Keep support: invoices, contracts, W-9s, 1099s, mileage logs, asset invoices, and depreciation.
Close with comments: each month, add reviewer notes for adjustments and estimates.

Month–Quarter–Year Cadence

Monthly

Reconciliations, financials (P&L, Balance Sheet, Cash Flow), and sales tax (if applicable).

Quarterly

Estimated tax calculations, payroll tax reviews (941/940), KPI checks.

Annually

Returns: 1120S / 1065 / 1120 / Schedule C and owner 1040 coordination.
1099 workflows, depreciation strategy, and year-end planning.

Common Mistakes We Fix

Personal spending in business accounts (lost deductions, messy books).
Late/incorrect S-Corp election; no documented reasonable compensation.
No mileage, home office, or meal documentation.
Untracked inventory or job costing errors; misclassified COGS.
Sales tax nexus ignored after crossing thresholds.

Work with a Pro—Make the Maze Simple

Monthly books closed on time—every month.
Quarterly estimates and safe-harbor planning (no surprises).
Return prep: 1120S/1065/1120/Schedule C + 1040 coordination.
IRS/State notice handling and representation.

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FAQs

How do I know if I’m paying the right quarterly estimates?

We project your tax based on year-to-date results and apply safe-harbor rules. If revenue swings, we adjust vouchers mid-year.

What deductions do small businesses miss most?

Mileage, home office, depreciation/bonus, start-up costs, and qualified retirement contributions. Keep documentation current.

Can I switch accountants mid-year?

Yes. We onboard, reconcile the last 2–3 months, and refresh estimates so you’re compliant and up to date.

Do you handle sales tax for ecommerce?

We run nexus studies, register in required states, file returns, and reconcile marketplace facilitator reports to your books.

What software do you support?

QuickBooks Online/Desktop, payroll platforms, and ecommerce integrations; we provide a secure portal for documents and e-signatures.

Navigating the Tax Maze: Tips from an Accountant