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© Answers to home business and Internet marketing questions.
By Javier A. Garcia - Administrator. Ask a question.
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| What advice can you offer to ease the pain of tax season? |
The important thing here is having a record of every business transaction, be it income or expenses. At the end of the day, feed this data to an accounting software application like MS Money to keep track of them to ease the burden of filling out your taxes.
You must keep records of every income and expense involved in the operation of your business since the first day of the new fiscal year until the last one.
Keep your business transactions separated from your personal ones and take your time while doing your taxes, rechecking every entry and calculation on the tax form to rule out any mistake.
It is also recommended to keep copies of the tax return forms for at least 3 years.
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