According to the SCORE Association, 40% of small businesses and startups across the country consider bookkeeping and taxes the “worst part of owning a business.” Perhaps that’s why the 2015 Small Business Accounting Report found 70% of small businesses outsource their tax preparation. Yet whether you figure out the figures yourself or hand them over to an outside accountant, there are apps and software that can help streamline the process.
Covering your apps
In addition to its street and mortar locations, H&R Block provides iPhone app users with information on how to file, what documents are needed, and when to expect a refund—assuming a refund is coming.
Whether the government owes you or vice versa, TurboTax’s TaxCaster Mobile app tackles tax calculations for both Android and iPhone users, while Receipt Filer Lite lets Android users photograph receipts for easier and greener filing.
Taking iPhone photos of in-kind donations such as old equipment (laptops and printers, even office furniture) is one of the features of iDonatedIt which assists users with write-offs by noting each item’s value and the charity it went to.
Preparing for tax preparation
Before your tax expert runs through your files, there are plenty of steps every entrepreneur and business owner must take to ensure said files are in order. BQE BillQuick is designed to help service professionals manage their time billing and accounting information. The system organizes everything from expense receipts, to invoices and overhead items, to straight-forward P&L and Balance Sheets.
“BillQuick helps professional services firms prepare for tax prep time by allowing them to have all the information that they need, neatly organized in one place,” explains Marketing Manager Ikhlaq Bhat. “It’s all about doing more in less time. Everything is organized, which means no extra time is spent searching for information. It also means that the accountant/bookkeeper will spend less time organizing this information for you, and will in turn save you money. This streamlined process means no-hassle and less stress for the business owners.”
Accessible from anywhere and on any device, the affordable software integrates with QuickBooks and Sage 50, and includes more than 500 customizable report and invoice templates as well as award-winning customer support so users can easily and effectively manage their accounts at tax time—and any other time throughout the year.