Do You Owe This Misunderstood Tax? (Hint: The Answer is Probably Yes)

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You’ve jumped through what seems like countless hoops to get your business going. You’ve filled out every form and talked to all the right people. You did all the research and learned from others’ past mistakes. Now it’s just a matter of getting it all done.

Of course this is easier said than done. There are a million things you have to do as a business owner you never dreamed about as a salary or wage worker. Aside from your usual business matters you must now attend to you have to worry about dealing with taxes.
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Guest Post: How to Do Your Taxes if You’re a Freelancer

This article was originally printed on LearnVest.com.

You’re free! Free to sleep in until 11 a.m., free to work while your adorable toddler plays at your feet, free to … keep really good records of all your expenses for your taxes.

We know. Not so fun. The reality is, being self-employed can be awesome for 11 months out of the year, and then come crashing down on your head in the form of lost receipts and unpaid estimated taxes in April. We want to save you from that sinking feeling. Read on for what every freelancer needs to know for your taxes.

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5 Tips for Preparing Your Small Business’s Taxes

At the beginning of each year, businesses begin to look at what they spent the year before, gather up receipts, approve budgets for the year, and start to get ready to file their taxes. Prepping your small business’ taxes early can be a long drawn-out process but gathering and preparing everything early on ensures that you and your employees are taken care of completely before April 15th.

Organize all of your records

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