Does the thought of preparing your small firm's tax return make you queasy? Do you put it off until the deadline, hoping against hope that it will disappear? You don't need to go through this anymore. There is now an excellent small business owner's guide to tax preparation that can aid you to stop procrastinating any longer.

Clear Your Calendar: We see people postpone things because they do not have sufficient time. They do not make a schedule and follow it. It may be a task of filing your tax papers or something else.

Get a Bookkeeper to Help You: Hiring a bookkeeper may really help if you are feeling overwhelmed at the thought of organizing your tax preparations. Bookkeepers help corral your material and can guide you through the process so the though of April looming isn't so intimidating.

Take a Trip to the Spa: An overlooked way to increase productivity is to reward yourself when you accomplish a tough task. Rewards to consider might include a day at the spa, a massage, a family outing, or any other reasonable thing that will help motivate you.

Buy a tax program: like Taxcut or TurboTax. These programs make tax preparation easier, and perform all the tasks to make it a less cumbersome process.

Locate an Accounting Professional: As the business grows, resulting in increased revenue and complexities, accounts are able to assist you to avoid frustrating experiences and expensive mistakes. Such a specialist also can help you with other issues, including strategies for managing cash for and offering other practical business and tax tips.

Pay Yourself First: How valuable are YOU to the company? To determine your hourly pay, add your profits for the fiscal year and divide by hours you worked. Next, calculate your tax refund divided by the hours required to complete the return. If your hourly pay matches or is greater than this amount, then you should have plenty of motivation to begin tax return preparations.

Ask for an extension: Most heads of small firms don't have any spare time. However, putting off filing can bog you down in guilt, so that you don't really derive much benefit from putting potential filing time into other company business. Consider asking the IRS for an extension.

Join a Tax Preparation Course: When people don't know what they need to do, it slows things down. In order to feel more knowledgeable and confident, it is helpful to take a day-long course in preparing taxes for small businesses. The IRS and many other associated organizations are offering free workshops online for small business owners. The main topics that are discussed in these workshops ranges from revenue, expenses, electronic tax filing to recordkeeping and employment taxes etc. Other related issues are also discussed here.

Time for a CFO?: Possibly, the business requires someone with more expertise than an accountant to advise you concerning financial matters. When does it become apparent that a Chief Financial Advisor is necessary? This may become apparent when the management team is regularly involved with making financial decisions. If you desire to offer your company's stock publicly, or if you are considering raising an extensive amount of capital, a part-time or full-time CFO may be necessary.

One Step at a Time: Start with something relatively simple, such as gathering and organizing pertinent paperwork, then move on to another small step. Keep in mind that starting the business involved a lot of hard work and time, but you managed to do it one step at a time. You made it through that; you can certainly manage this task.

Tax Time will never be one of the most fun activities. The agony inherent in procrastination, however, is often greater than the chore of completing the tax return. Unburden yourself from unnecessary guilt; stop delaying and experience a decreased stress level this April.