Small Business Owner Guide: Tax Returns

Tax season may come as a challenge if you’re a small business owner.

Here are some tips that will help you in the process of filing your business tax return in your first year of operation.

A Checklist for First-Time Filers of Business Tax Returns

Review the Business Tax Return Completely
Choose an Accounting Basis
Choose a Depreciation Method
Remember Your Home Office Deduction
Don’t Forget Non-employee Compensation
Keep Track of Automobile Expenses
Plan for Paying Self-Employment Tax

Rosenberg, Joseph “7 Tips for Filing Your First Tax Return as a Small Business Owner.” 20 November 2019

Silicon Harbor Business Services is based in Mount Pleasant, SC.  We provide solid, practical advice to small business owners and select individuals.  

We work with Quickbooks Online, Quickbooks Desktop and Quickbooks Enterprise. For Quickbooks Online, we work with clients in Mount Pleasant, Charleston, Philadelphia, and across the US. For Quickbooks Desktop and Quickbooks Enterprise, we only work locally in the Charleston, SC area.

For a complete list of our services, please click here. If you have any questions about online bookkeeping or business consultancy, we’d love to hear from you. Please contact us here.

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