{"id":46929,"date":"2023-02-22T14:39:47","date_gmt":"2023-02-22T19:39:47","guid":{"rendered":"https:\/\/www.arffinancial.com\/development\/?p=46929"},"modified":"2023-11-06T14:49:04","modified_gmt":"2023-11-06T19:49:04","slug":"small-business-tax-day-prep","status":"publish","type":"post","link":"https:\/\/www.arffinancial.com\/development\/small-business-tax-day-prep\/","title":{"rendered":"Small Business Tax Day Prep"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column][vc_single_image image=&#8221;46930&#8243; img_size=&#8221;large&#8221; alignment=&#8221;center&#8221;][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Filing taxes is one of those life requirements that, despite happening every year, always seems to sneak up on us. As a small business owner, this task can seem daunting. However, with a little preparation it\u2019s not too difficult to make tax day something to celebrate. Okay, maybe not celebrate\u2026 but we can at least help you make tax day a bit more tolerable. Ready to dive in?<\/p>\n<p><strong>Wrap up Reporting<\/strong><\/p>\n<p>Don\u2019t wait until the last moment to finalize your <a href=\"https:\/\/www.irs.gov\/businesses\/small-businesses-self-employed\/tax-years\">calendar year reporting<\/a>. In order to file your taxes in an efficient manner, you\u2019ll want to have a clear picture of where your money went last year. And if you can automate the process, all the better. So, get to work determining your taxable income from January 1 until December 31.<\/p>\n<p><strong>Review Legislation<\/strong><\/p>\n<p>A simple online search for <a href=\"https:\/\/www.usa.gov\/business-taxes\" class=\"broken_link\">small business tax information<\/a> can point you in the right direction to get an understanding of new legislation, laws, changes, credits, and deductions. Deductions are particularly important to because they can help you save a ton of money come tax time; credits are ideal because they can help lower your tax bill.<\/p>\n<p><strong>Put Your Accountant to Work\u2014All Year<\/strong><\/p>\n<p>If you\u2019re only engaging with your accounting during tax season, you\u2019re likely not using them right. Tax prep is a marathon, not a sprint. Throughout the year, you and your accountant should partner to track your business income and spending as well as gross and net profits.<\/p>\n<p><strong>Make Sure You Can Pay<\/strong><\/p>\n<p>Filing taxes is one thing, but paying taxes is a whole other beast. While you may not know throughout the year just how much you\u2019ll wind up owing (or not owing!) Uncle Sam, it\u2019s critical to keep enough liquid assets on hand to pay your dues. You can also try estimating your taxes early on and setting aside those funds in a \u201ccan\u2019t touch this\u201d account.<\/p>\n<p><strong>Get Ahead of Next Year<\/strong><\/p>\n<p>A bit of advice that \u201cfuture you\u201d will appreciate: Track things throughout the year. We\u2019re only 2 months in, so it\u2019s the perfect time to start really documenting your receipts and business expenses in order to take advantage of the most possible deductions come next tax season. You\u2019ll end up saving a lot of time in the long run if your expenses are regularly itemized and categorized. Staying on top of record keeping on a regular basis can also help ensure your tax returns are accurate. Inaccurate returns can raise red flags with the IRS, and the last thing you want as a small business owner is a tax audit. In addition to your business expenses and deductions, your payroll taxes should also be calculated throughout the year.<\/p>\n<p>Whether you\u2019re considering an expansion, updating your equipment, hiring more staff, or buying out investors, a <a href=\"https:\/\/www.arffinancial.com\/development\/loans-by-product\/lines-of-credit\/?urlsource=blog\">line of credit<\/a> from ARF Financial can help you reach your business goals. Your dedicated loan consultant can get you the funds you need quickly, with very little paperwork. And our fixed terms are clearly spelled out, so you know exactly how much you\u2019ll pay back and when you\u2019ll be paid off. Visit us and <a href=\"https:\/\/www.arffinancial.com\/development\/working-with-us\/current-offers\/?urlsource=blog\">get your free quote<\/a> today![\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_single_image image=&#8221;46930&#8243; img_size=&#8221;large&#8221; alignment=&#8221;center&#8221;][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Filing taxes is one of those life&#8230;<\/p>\n","protected":false},"author":5,"featured_media":46930,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[698,909],"tags":[398,402,400,399,443,386,535,220,213,944,943,401,224,222,172,226,1058,142],"class_list":{"0":"post-46929","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-small-business-financing","8":"category-taxes","9":"tag-affordable-business-loans","10":"tag-affordable-small-business-growth","11":"tag-business-expansion","12":"tag-business-growth","13":"tag-business-line-of-credit","14":"tag-business-loans","15":"tag-equipment-leasing","16":"tag-flex-pay-loans","17":"tag-line-of-credit","18":"tag-marketing","19":"tag-operations","20":"tag-small-business-expansion","21":"tag-small-business-financing","22":"tag-small-business-funding","23":"tag-small-business-growth","24":"tag-small-business-loans","25":"tag-small-business-tax-day-prep","26":"tag-working-capital"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Small Business Tax Day Prep - ARF Financial<\/title>\n<meta name=\"description\" content=\"Small Business Tax Day Prep- As a small business owner, this task can seem daunting. However, with a little preparation it\u2019s not difficult.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.arffinancial.com\/development\/small-business-tax-day-prep\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Small Business Tax Day Prep - ARF Financial\" \/>\n<meta property=\"og:description\" content=\"Small Business Tax Day Prep- As a small business owner, this task can seem daunting. However, with a little preparation it\u2019s not difficult.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.arffinancial.com\/development\/small-business-tax-day-prep\/\" \/>\n<meta property=\"og:site_name\" content=\"ARF Financial\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-22T19:39:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-06T19:49:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2023\/02\/ARF-Post-02222023.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"920\" \/>\n\t<meta property=\"og:image:height\" content=\"420\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Robert Whited\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Robert Whited\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.arffinancial.com\/development\/small-business-tax-day-prep\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.arffinancial.com\/development\/small-business-tax-day-prep\/\"},\"author\":{\"name\":\"Robert Whited\",\"@id\":\"https:\/\/www.arffinancial.com\/development\/#\/schema\/person\/ab727372fcd4ff548d759472b7c7fecc\"},\"headline\":\"Small Business Tax Day Prep\",\"datePublished\":\"2023-02-22T19:39:47+00:00\",\"dateModified\":\"2023-11-06T19:49:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.arffinancial.com\/development\/small-business-tax-day-prep\/\"},\"wordCount\":571,\"publisher\":{\"@id\":\"https:\/\/www.arffinancial.com\/development\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.arffinancial.com\/development\/small-business-tax-day-prep\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2023\/02\/ARF-Post-02222023.jpg\",\"keywords\":[\"affordable business loans\",\"affordable small business growth\",\"business expansion\",\"business growth\",\"business line of credit\",\"business loans\",\"equipment leasing\",\"flex pay loans\",\"line of credit\",\"Marketing\",\"Operations\",\"small business expansion\",\"small business financing\",\"small business funding\",\"small business growth\",\"small business loans\",\"Small Business Tax Day Prep\",\"working capital\"],\"articleSection\":[\"Small Business Financing\",\"Taxes\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.arffinancial.com\/development\/small-business-tax-day-prep\/\",\"url\":\"https:\/\/www.arffinancial.com\/development\/small-business-tax-day-prep\/\",\"name\":\"Small Business Tax Day Prep - ARF Financial\",\"isPartOf\":{\"@id\":\"https:\/\/www.arffinancial.com\/development\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.arffinancial.com\/development\/small-business-tax-day-prep\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.arffinancial.com\/development\/small-business-tax-day-prep\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2023\/02\/ARF-Post-02222023.jpg\",\"datePublished\":\"2023-02-22T19:39:47+00:00\",\"dateModified\":\"2023-11-06T19:49:04+00:00\",\"description\":\"Small Business Tax Day Prep- As a small business owner, this task can seem daunting. However, with a little preparation it\u2019s not difficult.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.arffinancial.com\/development\/small-business-tax-day-prep\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.arffinancial.com\/development\/small-business-tax-day-prep\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.arffinancial.com\/development\/small-business-tax-day-prep\/#primaryimage\",\"url\":\"https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2023\/02\/ARF-Post-02222023.jpg\",\"contentUrl\":\"https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2023\/02\/ARF-Post-02222023.jpg\",\"width\":920,\"height\":420,\"caption\":\"Small Business Tax Day Prep\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.arffinancial.com\/development\/small-business-tax-day-prep\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.arffinancial.com\/development\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Small Business Tax Day Prep\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.arffinancial.com\/development\/#website\",\"url\":\"https:\/\/www.arffinancial.com\/development\/\",\"name\":\"ARF Financial\",\"description\":\"Businesses Bank on Us\",\"publisher\":{\"@id\":\"https:\/\/www.arffinancial.com\/development\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.arffinancial.com\/development\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.arffinancial.com\/development\/#organization\",\"name\":\"ARF Financial LLC\",\"url\":\"https:\/\/www.arffinancial.com\/development\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.arffinancial.com\/development\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2018\/06\/ARFFinancialHorizontal.png\",\"contentUrl\":\"https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2018\/06\/ARFFinancialHorizontal.png\",\"width\":792,\"height\":612,\"caption\":\"ARF Financial LLC\"},\"image\":{\"@id\":\"https:\/\/www.arffinancial.com\/development\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.arffinancial.com\/development\/#\/schema\/person\/ab727372fcd4ff548d759472b7c7fecc\",\"name\":\"Robert Whited\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.arffinancial.com\/development\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/c48be6a0ddfcae4b85fd444fdab27d247b8fef19292a5249b0340af7e31ea9a5?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/c48be6a0ddfcae4b85fd444fdab27d247b8fef19292a5249b0340af7e31ea9a5?s=96&d=mm&r=g\",\"caption\":\"Robert Whited\"},\"url\":\"https:\/\/www.arffinancial.com\/development\/author\/robert\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Small Business Tax Day Prep - ARF Financial","description":"Small Business Tax Day Prep- As a small business owner, this task can seem daunting. However, with a little preparation it\u2019s not difficult.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.arffinancial.com\/development\/small-business-tax-day-prep\/","og_locale":"en_US","og_type":"article","og_title":"Small Business Tax Day Prep - ARF Financial","og_description":"Small Business Tax Day Prep- As a small business owner, this task can seem daunting. However, with a little preparation it\u2019s not difficult.","og_url":"https:\/\/www.arffinancial.com\/development\/small-business-tax-day-prep\/","og_site_name":"ARF Financial","article_published_time":"2023-02-22T19:39:47+00:00","article_modified_time":"2023-11-06T19:49:04+00:00","og_image":[{"width":920,"height":420,"url":"https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2023\/02\/ARF-Post-02222023.jpg","type":"image\/jpeg"}],"author":"Robert Whited","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Robert Whited","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.arffinancial.com\/development\/small-business-tax-day-prep\/#article","isPartOf":{"@id":"https:\/\/www.arffinancial.com\/development\/small-business-tax-day-prep\/"},"author":{"name":"Robert Whited","@id":"https:\/\/www.arffinancial.com\/development\/#\/schema\/person\/ab727372fcd4ff548d759472b7c7fecc"},"headline":"Small Business Tax Day Prep","datePublished":"2023-02-22T19:39:47+00:00","dateModified":"2023-11-06T19:49:04+00:00","mainEntityOfPage":{"@id":"https:\/\/www.arffinancial.com\/development\/small-business-tax-day-prep\/"},"wordCount":571,"publisher":{"@id":"https:\/\/www.arffinancial.com\/development\/#organization"},"image":{"@id":"https:\/\/www.arffinancial.com\/development\/small-business-tax-day-prep\/#primaryimage"},"thumbnailUrl":"https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2023\/02\/ARF-Post-02222023.jpg","keywords":["affordable business loans","affordable small business growth","business expansion","business growth","business line of credit","business loans","equipment leasing","flex pay loans","line of credit","Marketing","Operations","small business expansion","small business financing","small business funding","small business growth","small business loans","Small Business Tax Day Prep","working capital"],"articleSection":["Small Business Financing","Taxes"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.arffinancial.com\/development\/small-business-tax-day-prep\/","url":"https:\/\/www.arffinancial.com\/development\/small-business-tax-day-prep\/","name":"Small Business Tax Day Prep - ARF Financial","isPartOf":{"@id":"https:\/\/www.arffinancial.com\/development\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.arffinancial.com\/development\/small-business-tax-day-prep\/#primaryimage"},"image":{"@id":"https:\/\/www.arffinancial.com\/development\/small-business-tax-day-prep\/#primaryimage"},"thumbnailUrl":"https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2023\/02\/ARF-Post-02222023.jpg","datePublished":"2023-02-22T19:39:47+00:00","dateModified":"2023-11-06T19:49:04+00:00","description":"Small Business Tax Day Prep- As a small business owner, this task can seem daunting. However, with a little preparation it\u2019s not difficult.","breadcrumb":{"@id":"https:\/\/www.arffinancial.com\/development\/small-business-tax-day-prep\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.arffinancial.com\/development\/small-business-tax-day-prep\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.arffinancial.com\/development\/small-business-tax-day-prep\/#primaryimage","url":"https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2023\/02\/ARF-Post-02222023.jpg","contentUrl":"https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2023\/02\/ARF-Post-02222023.jpg","width":920,"height":420,"caption":"Small Business Tax Day Prep"},{"@type":"BreadcrumbList","@id":"https:\/\/www.arffinancial.com\/development\/small-business-tax-day-prep\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.arffinancial.com\/development\/"},{"@type":"ListItem","position":2,"name":"Small Business Tax Day Prep"}]},{"@type":"WebSite","@id":"https:\/\/www.arffinancial.com\/development\/#website","url":"https:\/\/www.arffinancial.com\/development\/","name":"ARF Financial","description":"Businesses Bank on Us","publisher":{"@id":"https:\/\/www.arffinancial.com\/development\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.arffinancial.com\/development\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.arffinancial.com\/development\/#organization","name":"ARF Financial LLC","url":"https:\/\/www.arffinancial.com\/development\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.arffinancial.com\/development\/#\/schema\/logo\/image\/","url":"https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2018\/06\/ARFFinancialHorizontal.png","contentUrl":"https:\/\/www.arffinancial.com\/development\/wp-content\/uploads\/2018\/06\/ARFFinancialHorizontal.png","width":792,"height":612,"caption":"ARF Financial LLC"},"image":{"@id":"https:\/\/www.arffinancial.com\/development\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/www.arffinancial.com\/development\/#\/schema\/person\/ab727372fcd4ff548d759472b7c7fecc","name":"Robert Whited","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.arffinancial.com\/development\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/c48be6a0ddfcae4b85fd444fdab27d247b8fef19292a5249b0340af7e31ea9a5?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c48be6a0ddfcae4b85fd444fdab27d247b8fef19292a5249b0340af7e31ea9a5?s=96&d=mm&r=g","caption":"Robert Whited"},"url":"https:\/\/www.arffinancial.com\/development\/author\/robert\/"}]}},"menu_order":0,"_links":{"self":[{"href":"https:\/\/www.arffinancial.com\/development\/wp-json\/wp\/v2\/posts\/46929","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.arffinancial.com\/development\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.arffinancial.com\/development\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.arffinancial.com\/development\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.arffinancial.com\/development\/wp-json\/wp\/v2\/comments?post=46929"}],"version-history":[{"count":3,"href":"https:\/\/www.arffinancial.com\/development\/wp-json\/wp\/v2\/posts\/46929\/revisions"}],"predecessor-version":[{"id":48864,"href":"https:\/\/www.arffinancial.com\/development\/wp-json\/wp\/v2\/posts\/46929\/revisions\/48864"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.arffinancial.com\/development\/wp-json\/wp\/v2\/media\/46930"}],"wp:attachment":[{"href":"https:\/\/www.arffinancial.com\/development\/wp-json\/wp\/v2\/media?parent=46929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.arffinancial.com\/development\/wp-json\/wp\/v2\/categories?post=46929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.arffinancial.com\/development\/wp-json\/wp\/v2\/tags?post=46929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}