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Tax Changes for Payment Apps: What Small Business Owners Need to Know

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The new requirement went into effect on January 1, 2022, and will apply to 2022 taxes , which will be filed in 2023. . The best accounting practice is to keep personal and business finances under separate accounts, in order to save time and avoid confusion while filing taxes. They will provide: .

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4 Ways Small Business Owners Can Stay Tax Compliant

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By keeping your books up-to-date, you can be confident that you are reporting your income and expenses correctly, paying the proper amount in taxes, and paying your estimated taxes in a timely manner, which produces a stress-free tax season. It is always best to speak to a small business tax accountant.

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