Every year, as business owners enter into the final stretch of tax season, tons of people and small businesses scramble to make sense of their financial statements, figuring out their own deductions, and, well, struggling with some “free” tax prep software. Maybe you have just gone through that this year.
To this, we beg the question:
Why? Why do you do this to yourself and your business?
We’re not here to put any shame on your game, but at the same time, you have to know that using free tax prep software is anything but free.
First of all, there are all kinds of hidden fees associated with using one of those “free” tax prep websites (you know the ones we’re talking about). Often times these fees won’t show up until you or your business are ready to file State and Federal taxes. By then they’re banking on the fact that you’re too tired and have spent too much time to argue with their servicing fees. It’s not always a cheap amount either, especially if you’re a freelancer or a small business owner.
But here’s the real issue: when you use that software, you’re probably not getting the deductions you should be.
Tax software can be really helpful and save some time, especially if there isn’t a lot of moving parts to your finances, but if you’re a small business owner with a lot to keep track of then this “free” software ends up costing you a ton of money in missed deductions.
Stop giving away money and time for free. Why get hung up late at night trying to figure out if you’ve filled out your online forms correctly? It just sounds like a hassle.
There's no risk in talking to an expert to find out if monthly accounting services could actually be saving you money in the long run.