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Tax Time for Small Business Owners
Integrate digital solutions and work with our tax preparers for maximum benefits
Small business owners are constantly looking for ways to improve and grow their business. Whether that be operations, accounting, customer service, or keeping up with industry trends. Our team is here to advise business owners on tax laws and regulations so you don’t have to spend hours researching which benefits and tax credits you should be getting.
Research shows small businesses spend a large percentage of time preparing and submitting taxes. With changes in tax requirements and layered tax laws, business owners often miss opportunities to save money on taxes.
Record Keeping
One common tax problem among small business owners is unorganized record keeping. With technology on our side and innovative solutions, IFMS helps business owners through systematic and orderly record keeping with QuickBooks® Online. Making it easy to access all your documents anytime of the year and manage your financial statements from any device.
Avoid digging through print and digital files searching for that receipt from your business travel. Our tax experts help you integrate software solutions, simply snap a picture of your receipt and watch as it automatically catalogs into the assigned folder. So, when it comes to tax time – you no longer are taking time away from operating your business to focus on meeting the tax deadline.
Tax Deductions
According to the government of Canada and the 2020 Key Small Business Statistics report, over 90% of businesses in Canada are classified as small businesses. Small business owners are eligible for a variety of tax deductions such as travel expenses, insurance, retirement, and more. Through QuickBooks Online, business owners can access a small business tax prep checklist as a guide during the tax filing process. Our tax preparers then identify all the deductions you are eligible for to ensure you are receiving the maximum benefits.
Work with our team to make tax time easy and seamless. Our tax team has over two decades of experience working with business owners and are here to answer your questions, manage your tax workload, and work with your budget. Email us today at info@ifmsolutions.com
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