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8 Great Tax Resources for Small Businesses

Sometimes, small business owners just need a helping hand.

Every tax season, some entrepreneurs decide to prepare their own small business tax returns. But even if you make the same decision to “go it alone,” you don’t actually have to be alone.

Maybe it’s information you need. Maybe it’s just a little bit of guidance along the way. Maybe you’re just looking for capable tax software to get the job done.

Whatever it is, read on as we share several tax resources your small business can use to make tax season a little easier.

Tax Software

First, if you’re just looking for the tools to get the job done, here’s a short list of small business tax software that’s available to you:

  • TurboTax: Typically considered the #1 name in tax software, TurboTax has a $120 federal filing starting cost and a $50 state filing starting cost as of early March 2020. It’s feature-heavy, including photo W-2 uploads and error checks, but it’s also the most expensive of the majors.
  • eFile.com: This is among the least expensive options at $34.95 federal/$28.95 state starting costs. It’s not necessarily right if you grow into a midsize or large business. But the mix of cost and features – including unlimited state returns, personal support and free audit assistance – make it just right for small businesses.
  • H&R Block: H&R Block straddles the middle of these two, at $79.99 federal/$36.99 state starting costs. The company’s software comes with live chat help with tax pros and integration with prior returns across various tax software providers. Its features make it worthwhile for less straightforward businesses; if you have a simple business structure and tax reporting needs, it might be an unnecessarily high amount of muscle and cost.

Information & Guidance

If you’re just looking for a little more knowledge, need a question answered or otherwise need a helping hand, here are a few sites worth visiting for important information and/or commentary on various small business tax subjects:

  • IRS.gov: Specifically, this is the IRS’ list of “recommended reading” for small businesses. It’s not exactly the book-of-the-month club, but these pages will help businesses with issues such as reporting tip income, business expenses and how to keep records.
  • SBA.gov: The U.S. Small Business Administration has some basics on how businesses can determine their tax obligations, and it also can put you in contact with free business counseling.
  • Score.org: Score, a partner of the SBA, is a nationwide network of volunteer, expert business mentors, and they’ve put together a number of how-tos, webinars and more that can help small businesses deal with and even plan for their taxes.
  • Taxpayer Advocate Service: This IRS service provides a helping hand for people that have questions or issues about their tax forms. It has a list of common issues and solutions to those problems, but you can also reach out and contact the TAS if your issue isn’t listed on the site.
  • The McManamon & Co. Blog: Every week, we provide timely information about small business taxes, accounting and other matters that affect your company.

We provide much more than weekly blogs, of course. McManamon & Co. caters to small and midsize businesses and provides various services – from accounting to consulting to tax services.

So, if you decide that tackling your own small-business taxes is a little more complicated than you originally bargained for, don’t worry. Just give us a call at 440.892.9088 or contact us online.


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