For self-employed individuals and small business owners alike, tax season isn’t just once a year: it’s quarterly. That’s because the IRS requires quarterly estimated tax payments.
After weighing the pros and cons of hiring an online accountant, you may feel as if filing
your company’s taxes yourself is a wise decision to save working capital. In reality, you
may wind up costing yourself more in the long run. Here’s what our team at No Stress
Accounting has learned from working with countless small business clients.
Missed Deductions
Business leaders have enough on their plates as is. When you add data and transaction
maintenance to the equation, you’re likely to miss something. As a result, you could be
missing out on thousands of tax deductions that could have significantly reduced your
overall tax liability. By hiring an online accountant, you can ensure greater year-round
accuracy, especially during tax season.
Saved Time
Chances are, you’re not a CPA. As a result, your time is best spent in other ways, not
managing your taxes. If you do try to DIY your taxes, you may find yourself spinning your
wheels as you…
• Determine which expenses are tax-deductible
• Read through state and federal tax requirements
• Search for the most up-to-date filing forms
• Run calculations to determine what you owe
• And more
All the while, you could have been spending time taking client calls, speaking with
investors, securing seed funding, and building your digital presence. By hiring an online
accountant to do your company’s taxes, you can stay focused on what matters most.
Complimentary Subscriptions
Although uncommon, certain online accountants such as No Stress Accounting offer free
subscriptions to leading accounting software such as Xero or Quickbooks. The cost of
these solutions alone can run up your overhead. Instead, you can get access to these
platforms complimentary as part of your online accounting subscription.
Closing Remarks
In the process of trying to save a few hundred dollars by doing your own taxes, you may
find yourself losing thousands of dollars and countless hours. At the same time, not all
online accountants are created equal…
As a US-based online accounting firm, No Stress Accounting carries out your tax filings
with uncompromising compliance. We are located in Silicon Beach and have served
cross-industry small businesses nationwide with taxes and beyond. To learn more, we
invite you to explore our subscription packages at nostressaccounting.com.