Last year was a great year for thousands of people to start their own business. Rather than have to go to work day in and day out doing a job you really didn’t want to do, you opted to start your own business. It was probably a pretty rocky year, but given the amount of time you had staying home, it could not have worked better. Now you have to file taxes, and being that this is the first year you’re doing small business taxes, you may want to consider small business tax preparation services. There are some good reasons why, as a new business owner, you will want to hire a small business tax preparation service.
Your Personal Money and Business Money Are Linked
There’s a good chance that you took some of your savings to invest and start your own business. That means that your personal taxes and business taxes are linked, even though professionally you are supposed to keep them separate. This situation is often the most confusing for small business owners, but a tax prep consultant or CPA can help.
There Are Some Very Unique Tax Breaks for the Self-Employed This Year
Additional tax breaks exist for anyone that is self-employed with a small business and has dependents at home to care for. These tax breaks can yield thousands of dollars, a real boon if you are in deep need of cash. Consult with a CPA from InSiteCPAs to see how much money your business could be getting back.