Tedd Johnson Will Help Your Small Business Prepare For Tax Filing

HOUSTON - March 27, 2014 - PRLog -- It's tax season and that means small business owners need to compile their financial statements and try to get as much money back as possible. Here are the steps to getting the most out of your tax return.

1. Find a certified public account as soon as you start your business. A CPA will help you keep records up to date when tax time comes around.
2. Find out what can deducted from your company's income, such as cell phone and vehicle costs.
3. Keep a tax diary throughout the year and keep all receipts from purchases.
4. Complete all legal steps in tax preparation if you have employees. You will need your employees to fill out a W-4 and independent contractors fill out a W-9 form.
5. Go digital by keeping all of your paper receipts on a computer.
6. Make a plan before tax season. You can use a CPA, a e-file service, or you can file taxes on your own. Make sure you know what you are doing before tax season rolls around.
7. Record and track of your personal salary as the owner of the business. It is usually not legal to pay yourself with all profits from the company.
8. Keep a calendar of all important dates for the year, or have your CPA be aware of these dates.
9. Collect your tax records a few months before taxes are due. Send out W-2s or 1099s to your employees and contractors.

About Tedd Johnson
Tedd Johnson is the CEO and Founder of Income.com and owner of the popular hunting destination, Pear Tree Game Ranch. Tedd Johnson and a team of business advisors help new entrepreneurs by enabling them to become successful job creators and phenomenal business owners. To learn more about Tedd Johnson, please visit: http://teddjohnsonblog.com/.