Small Business Accounting and Tax Tips

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Accounting and taxes can be a scary thing for many small business owners. Knowing what you can take off on your taxes and how to keep track of expenditures can be confusing. So in this video Lany Sullivan talks with Danetha Doe about how you can organize all those accounting task and make tax time easier to face. Even if you have an accountant, you will hear some tips on how to make things easier on them, which may save you money in the long run!

Time stamps –

0:31 Why business owners should not wait until the end of the year to have their bookkeeping in order.

Many small business owners may underestimate their business expenditures & that mean you may be paying more in taxes than you should.

Do not miss out on those tax write off for your business!

1:38 How can a business make sure they are not over paying on their taxes?

Keep your accounting up to date all year and don’t wait or you may get overwhelmed or forget things.

2:21 Is there one set tax plan that all businesses should follow?

There are times you may not want to take all the write offs for your business, so your paperwork shows you made more money. (Sounds crazy, but I get it).

3:57 What accounting program should you use to keep track of all your finances?

5:09 How do you decide which accounting platform is best for your business?

Why you may want to look for an online accounting system rather than just a desktop system. (Think mobile tie in with your banking)

6:15 If you haven’t kept up on your bookkeeping all year, where do you start so you can get caught up?

8:03 What is a good plan to start the new year, so next year at tax time, all our books are in order?

9:14 What can we legally write off on our business taxes?

For a checklist of what can be written off as a business expense, visit

Can a business write off lunches with clients and how do we prove it was a business lunch?

10:32 What if our business is audited by the IRS?

11:23 When working with a tax accountant what do I need to do to help them do their best work for my business?

13:00 If we get a letter from the local government or the IRS, how should we handle it?
(Pretty sure that running to the boarder will no be the right answer).

14:39 Where can a small business get free tax help?

Public Library has Free Tax Support!

Watch the Free webinar replay with Danetha with more great accounting tips and resources –

RCUWomen Forum –

Lany Sullivan –


Lany Sullivan says:

I started using Freshbooks and they are AMAZING! Their team has been so helpful as tax season has come and gone.

Lany Sullivan says:

Conversations like this that make scary topics seems easier to manage are some of my favorites. Danetha does a great job sharing tips to help manage our accounting and to not be fearful of it.

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