Intermediate 8 min
Tax Preparation for Businesses
Understanding your taxes saves you money and trouble with the IRS. As a business owner, you usually pay estimated taxes every quarter.
TaxesFinance
Guide video
¿Qué impuestos debo pagar siendo dueño de negocio?
Quarterly estimated taxes
If you expect to owe more than $1,000 in taxes, the IRS requires estimated payments in April, June, September and January. Set money aside each month to cover them.
Deductions you can take
Operating expenses, tools, work-vehicle mileage, part of your home office and more. Keep all your receipts.
Keep your books up to date
Software like QuickBooks or Wave helps you track income and expenses. As your business grows, a CPA or Enrolled Agent (EA) is worth the investment.