CPAs Package

Back-office accounting to save you time and money.

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Business Package

Reduce your monthly costs, get guaranteed quality and FAST results.

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Franchise Package

Know what each store is doing the NEXT day. Don't guess about your cashflow.

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Family CFO Package

Get all the perks of an in-house bookkeeping team for your Family CFO.

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Better Small Business Tax Accounting for 2010

Tax preparation software such as TurboTax, TaxAct, and TaxCut has vastly simplified the process of filing your taxes. And this isn’t limited to your personal filing: Tax preparation software companies typically offer a more robust version specifically tailored to business tax prep. Very affordable at right around $140 for the TurboTax Business edition, these programs seem the easy solution for the small business owner such as yourself.

And they are, but with caveats. Such software has grown increasingly more sophisticated and powerful while at the same time retaining a very friendly user experience. These programs usually will guide you step-by-step through the preparation process with explicit directions and comprehensive video instruction, and support for filing over the Internet (e-filing) is included. All you need is a clear head, organized tax documents, and several hours.

But we’d recommend consulting a tax accountant as a supplement to your tax preparation software of choice. A tax accountant can look at your books and suggest deductions that aren’t covered with the broad paintbrush approach used, necessarily, by TurboTax and company. The tax accountant can give your business the attention necessary to squeeze a few more dollars out of your business return.

For the 2010 tax season, it would be worth your while to explore the benefits offered by a tax software-personal tax accountant combination for your small business tax accounting.