13 tax tips anyone who’s self-employed should know

Let’s dig deeper into the best practices for getting your books ready for tax season, avoiding common mistakes, and maximizing refunds.

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As a small business owner, you’re responsible for accurately reporting your business income and expenses on your tax return.

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Organize your chart of accounts

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Separate personal and business accounts

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When it comes to tax time, an easy way to save money is to ensure you take advantage of all the tax breaks and deductions available to your business.

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Finding a financial advisor doesn’t have to be hard. SmartAsset’s free quiz matches you with fiduciary financial advisors in your area or who serve your area. If you are ready to be matched with financial advisors that can help you achieve your financial goals, take the quiz now.

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13 tax tips anyone who’s self-employed should know

Let’s dig deeper into the best practices for getting your books ready for tax season, avoiding common mistakes, and maximizing refunds.

As a small business owner, you’re responsible for accurately reporting your business income and expenses on your tax return.

Reconcile to source documents

Organize your chart of accounts

The chart of accounts lists all the categories and subcategories of transactions for your transactions.

Separate personal and business accounts

One of the easiest mistakes to make as a small business owner is to mix personal and business finances.

When it comes to tax time, an easy way to save money is to ensure you take advantage of all the tax breaks and deductions available to your business.

Make use of tax breaks and deductions

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Finding a financial advisor doesn’t have to be hard. SmartAsset’s free quiz matches you with fiduciary financial advisors in your area or who serve your area. If you are ready to be matched with financial advisors that can help you achieve your financial goals, take the quiz now.

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