Simple Tips for Getting Your Business Ready for Tax Season

kim • August 2, 2025

Tax season can feel overwhelming, especially if your financial records are scattered. But a little organization throughout the year can make a big difference when April rolls around. Here are a few simple tips to help small business owners stay ahead.

1. Keep Your Books Up to Date

Don’t wait until the end of the year to clean up your bookkeeping. Stay on top of income and expenses with monthly check-ins. This not only helps with tax prep, but gives you a clear picture of how your business is doing.


2. Go Digital with Your Receipts

Receipts pile up quickly—and they’re easy to lose. Use apps or cloud storage to snap photos of receipts and file them by category. Many tools make it easy to organize these by date, vendor, or expense type.


3. Separate Business and Personal Finances

It may seem obvious, but many small business owners still use personal accounts for business purchases. Keeping accounts separate helps make tax reporting cleaner—and reduces the chance of missing deductions.


4. Watch Deadlines

Staying aware of filing deadlines for payroll, estimated taxes, and returns helps avoid penalties. Add reminders to your calendar well in advance so nothing sneaks up on you.


5. Ask for Help Before You're in a Crunch

Tax prep is a year-round effort. If you're unsure about your records, don’t wait until the last minute. A financial professional can help you stay on track before it gets stressful.


At BFI, we support small businesses year-round—not just during tax season.


Let’s get your finances in order and your business on track.
💼 Learn more about our bookkeeping and payroll services: www.businessfinancials.net/services#TaxPreparation

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