If you’re an entrepreneur, you might find yourself playing a guessing game when it’s time to file year-end taxes. How will you file? Which forms do you need? Where are you sending your tax information? Which regulations have changed, and what’s new this year? Do you have all your information, like TIN numbers, ready to go?
When you’re looking for convenient tax services, you want to be sure that you choose the ideal e-filing service to submit your information tax return forms on time and accurately. It’s important to choose a provider highly versed in 1099 and related tax forms, IRS deadlines, regulations, and all the important information you need to know during tax season. An e-filing service also keeps your information securely within your account, so you won’t need to input it every year.
As a sole proprietor, you’re in charge of all the elements of your business. You decide your work hours, you pay for your own office and supplies, keep track of your deductions, and of course, you also file your taxes. You likely want to cut costs as well.
Human error happens. Unfortunately, IRS regulations can mean simple human error has costly and time-consuming consequences. All important details must match up before forms are filed, like the Taxpayer Identification Number (TIN). However, TIN checking can help to ensure that recipient statements are mailed out accurately.
You also likely have multiple vendors who need to be issued information return forms. With our Excel upload process, you’ll simply upload multiple forms rather than fill them out manually, which minimizes the risk of making small mistakes and helps to prevent delays.
An e-filing service will mail and e-file forms where necessary, another cost and time-saving benefit. All you’ll need to do is check a couple of boxes while filling out your forms.
You can file most 1099 forms up to January 31st at 5 PM with eFile360. With this deadline, you can also avoid any late penalties from the IRS, though it is still up to you to ensure that your forms are filed on time.
How do you know which e-filing service to choose?
When you decide which e-filing service to use, you’ll want to be cautious in your research. Take a look at how to find an e-service provider in 7 steps.
After all, once you find the right one, you’ll ideally want to stick with it for a while. A good e-filing service can help to eliminate the typical anxieties of tax season.
For those with forms for multiple vendors, eFile360’s bulk upload service is an efficient, accurate method of ensuring that you’ll be able to manage multiple types of information without error.
With volume pricing, eFile360 offers a solution in which the higher volume of information return forms you file, the lower the cost per form. However, even individual forms typically cost no more than $3.50 for most forms and $4 for ACA forms.
Time is money, and you’re investing in e-filing as a means of saving money and time. While eFile360 is not a replacement for receiving business tax advice from a professional tax expert, it’s a convenient method of ensuring that your forms will be turned in on time and accurately.
By using a system now, you’ll be setting yourself for a smoother tax season now and in the future. Make your tax season as an entrepreneur more manageable with the help of eFile360—get started by signing up for a free account.