Tax season happens every year, but many still tend to overlook changes that affect their tax situation – especially if they are self-employed. Owning a small business or being self-employed is a lot of work, and that’s before it comes to filing taxes. Small-business owners and the self-employed can make tax time easier by following just a few essential tips:
Keeping good records is the foundation for everything else because you can’t deduct what you haven’t documented. First, track all income, save your receipts and remember to document income and expenses.