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Best Tax Preparation Software for Small Business: What Tax Software to Choose?

Snyder

The biggest tax season challenge for a small business is tax preparation and filing. Most SMB owners fall into the trap of putting off taxes until the last minute because they don’t have professional tax accounting software backing them up. You can start with something simple. Accessibility.

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A Guide to Navigating Taxes in the Gig Economy

Ronika Khanna CPA,CA

Income Tax Obligations Any income earned through gig work is generally considered business income and is reported on the T2125 form as part of your personal income tax return (assuming you are not incorporated). If you do register, you will have to start charging your customers right away.

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How are C corporations taxed? Tips on how to avoid double taxation and reduce taxes

ThomsonReuters

For C corps, double taxation refers to the taxation of corporate profit at two different times: First, the corporation itself is taxed on their corporate income at the federal corporate tax rate of 21%. For fiscal year businesses, the deadline is the 15th of the month six months after the initial fiscal deadline.

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Tax Credits You May Claim Now

MyIRSRelief

That’s why so many people choose to hire a tax preparer/ EA, Attorney, CPA, they don’t want the hassle of doing it themselves, and they trust an expert to handle their business. Tax credits to look out for. Earned Income Tax Credit (EITC). Small-business tax credits.

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