5 Ways To Save Money With Tax Reports

Taxes are annoying, but tax reports are even more annoying. Wouldn’t it be nice if there was a way to generate your reports automatically, so you don’t have to fill out tons of documents? If you use Susan.one, you can do exactly that! Susan.one is simple and easy-to-use automated tax reporting software to manage financial operations for businesses. Here are five ways you can save money on tax reports by generating them automatically in the software.

1) Start by assessing current processes

Talk to your coworkers about how they generate tax reports in the software they are currently using. What are common sources of confusion? Which reports are frequently used incorrectly? Are there any ways to streamline processes or cut out time-consuming tasks? Can anything be automated? Asking a few simple questions can help you better understand your coworkers’ workflows and uncover areas where things can be improved.

2) Check Estimated Taxes

If you’re self-employed, working with certain types of contract workers, or dealing with large sums of money from year to year, then it’s a good idea to consider estimated taxes. This way, you can pay your fair share on time and stay in good standing with Uncle Sam. (Having too little withheld by your employer isn’t advisable.)

3) Calendar

For most people, the calendar is a great way to stay organized. A good schedule will serve as a reminder of all of your tasks for every day and let you see everything you have planned in one place. Plus, it’s easy to use in addition to saving time and money! Every new employee should be given their own schedule printout at their orientation. It doesn’t hurt for them to keep it updated either, especially if they are planning ahead instead of waiting until something needs to be done.

4) Maintain Complex Tax Reports Easily

Reporting requirements can differ from country to country. The more your business has grown, the more difficult it may be for you to generate all the required tax reports, and what those reports look like. Managing multiple tax reports can quickly become unwieldy. That is why we have decided to integrate all the country-specific mandatory tax rules into the software for easy use.

5) Do Not Leave Any White Space in your Accounting Software

According to an online survey of small businesses conducted by Sage, 1 in 5 respondents indicated that not having enough time is their biggest obstacle when it comes to taking care of taxes. Although you may not be able to control how much time you have, as long as your accounting software has auto-generated tax reports capabilities, you can do your part in saving time and energy on doing taxes.

Location: Philippines

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