RESOURCES HUB
Welcome to our resources hub! Here, you’ll find a collection of downloadable guides, educational resources, and tools to help simplify your bookkeeping and financial management. Whether you’re just starting or looking to enhance your financial knowledge, our resources are designed to make complex processes easier to understand and manage. Explore the content below to take control of your business’s financial success and stay organized year-round!"
BOOKKEEPING RESOURCES
year end bookkeeping checklist
Prepare your business for the new year with this year-end bookkeeping checklist to organize finances, reconcile accounts, and get ready for tax season, ensuring you maximize deductions and meet deadlines smoothly.
HOW TO CATEGORIZE EXPENSES
This guide will help you categorize your business expenses to ensure accurate financial tracking and maximize tax deductions. Properly organizing your expenses simplifies bookkeeping and provides clear insights into your cash flow.
tax & accounting resources
tax deductions for sole proprietors
The following deductions can help reduce taxable income for small businesses without employees and maximize tax savings.
2024 - 2025 tax deadlines
Keep your business on track with this 2024-2025 tax deadlines guide. Use it to stay on top of key dates for filing, estimated payments, and extensions, so you can avoid penalties and ensure a smooth tax season.
We know how frustrating it can be to track down the right tax forms when you need them most. That’s why we’ve created this centralized resource hub—a one-stop spot where you can easily access essential tax forms and helpful links.
Important tax forms & Links
Form 1040 (U.S. Individual Income Tax Return)
As a sole proprietor, Form 1040 is the cornerstone of your tax filing process, where all personal and business income is reported.
Filing Deadline: April 15 (unless it falls on a weekend or holiday; then it's the next business day)
Form W-9 (Request for Taxpayer Identification Number and Certification)
This form is commonly requested by sole proprietors from contractors they work with to ensure proper tax reporting.
Filing Deadline: No specific Filing Deadline
Form 1099-MISC (Miscellaneous Income)
While this is less commonly used than the 1099-NEC for sole proprietors, it still relevant if you pay for rent or award prizes.
Filing Deadline: January 31 (for payees) and February 28 (to the IRS)
Schedule C (Profit or Loss from Business)
This is filed alongside Form 1040 to report the income or loss from the business, making it a crucial form for sole proprietors.
Filing Deadline: April 15 (along with Form 1040)
Form 1099-NEC (Nonemployee Compensation)
If you hire an independent contractors or freelancer, and pay them $600 or more, they must issue this form.
Filing Deadline: January 31
Form 1120S (U.S. Income Tax Return for an S Corporation)
Sole proprietors generally don’t file this form unless you’ve elected to incorporate your business as an S Corporation.
Filing Deadline: March 15
Form 8829 (Expenses for Business Use of Your Home)
If you work from home, this form is frequently used to claim deductions related to your home office.
Filing Deadline: April 15 (along with Form 1040)
Form SS-4 (Application for Employer Identification Number)
While not required for all sole proprietors, this form is often used when the business needs an EIN, especially for banking or client requirements.
Filing Deadline: No specific Filing Deadline
