Do you dread tax day? Submitting your taxes each year is not the most pleasant of activities. Whether you hire someone to do your taxes or complete them yourself, when it comes to a smooth process, organization is key.
As an entrepreneur, I’ve learned that keeping organized throughout the year lessens the pain at tax time. I keep business receipts and any other paperwork as they come and place them in a specific folder. When it’s time to do taxes, I simply pull out the folder and process everything in it. Tracking income and expenses with a software tool can help, too.
Intuit Quickbooks has created an inforgraphic on tax prep tips from entrepreneurs, freelancers, and small business owners. Even if you’ve already filed your taxes, the inforgraphic is still relevant as it also includes tips you can implement now for a smoother process next year.