0373: Tax Tips For New Construction Business Owners

<h1 style="text-align: center;"><span style= "color: #0000ff;"><strong>This Podcast Is Episode Number 0373, And It's About Tax Tips For New Construction Business Owners</strong></span></h1> <p><span style="color: #0000ff;"><strong><span style= "background-color: transparent;">The tax deadline is postponed to <a href= "https://www.irs.gov/coronavirus/coronavirus-tax-relief-filing-and-payment-deadlines" target="_blank" rel="noopener">July 15, 2020</a>. If you just started your construction business last year and haven't filed yours yet, this post would be helpful. </span></strong></span></p> <div> </div> <div>Your tax bill is based on reports produced by your accounting system. Want to avoid paying more than you should come tax time? Or a frantic last-minute search for missing financial records? </div> <div> </div> <div>New construction business owners have a lot on their plate, and can quickly lose track of an approaching tax deadline or financial data needed to submit their return.</div> <div> </div> <div> <div>Organization is key when preparing for tax time, as is taking advantage of the many tools and resources out there to support new entrepreneurs.</div> <div> </div> <div> <div>Set yourself up for success by following these four pillars of painless tax prep. </div> <p><span style="color: #0600ff;"><strong>Commit to clean bookkeeping from day one</strong></span></p> <p><span data-preserver-spaces="true">Year-round, effective bookkeeping is the best way new construction business owners can minimize tax season stress. With the full range of accounting software out there, there's no reason to rely on time-consuming manual methods that leave room for error.</span></p> <p><span data-preserver-spaces="true">All-in-one options like <a href="../../../xero-contractor-outsourced-accounting" target= "_blank" rel="noopener">Xero</a> and <a href= "https://www.fasteasyaccountingstore.com/" target="_blank" rel= "noopener">QuickBooks</a> automate your most important bookkeeping processes, including:</span></p> <ul> <li style=