As a small business owner, I know that tax time can be a very hectic and stressful time of year. I'm looking for ideas and advice to make tax time easier for all of us. For starters, I recently plugged in a 2011 tax calendar to stay on top of all important deadlines. You can find it here: https://secure.outright.com/tax_calendar What other tips, tricks or tools do you use to relieve the anxiety of tax season?
I don't have any cool tools, but if you're in school and you're taking out loans you need to make sure you get tax credit for it (up to $1000). If you're paying out of pocket you may be entitled up to $2500...I can't remember the exact name of the second one, but I sure hope this helps those with businesses that are taking college coures as well.
Thanks shabit87, I found a IRS page that lists all the tax benefits for education. It's dated 2009, but should still apply. http://www.irs.gov/publications/p970/
Keep all your expenses together, using whatever method makes the most sense (QuickBooks, Excel, etc.). Also, check your favorite bookstore for business tax books for 2010 (and 2011) so you know what deductions you're entitled too. Organization goes a long way in relieving tax-time pressure!