No time of year puts quite the same amount of panic into a factoring business owner as tax time. Properly filing and paying your business taxes is one of the most important things you will do all year, and can also be one of the most complicated. With that in mind, we have five tips to keep your tax season running smoothly. Tip #1: Get the right person to prepare your taxes. (Hint: it may not be you.) It can be tempting to save money by filing your business taxes yourself – after all, who knows your factoring business better than you? Before you break out the pens and calculators, though, think about whether you have the time and the tax knowledge necessary to accurately report all of your earnings and deductions. Mistakes can cost you … [Read more...]