This content was developed in partnership with Intuit.
For the average employed person, tax season is a relative breeze. Pop in some W-2 information and watch the refunds roll in. At least that’s how it seems from the outside, for the growing number of us who make money through freelancing, side hustles and small businesses. For us, tax season can be a real headache and the endless forms of dozens of income streams can feel like a minefield.
Worst of all, mentoring has never been so scary. Established businesses have tax preparation procedures built over the years and the resources to hire teams to do the dirty work, while millennials — and our younger, Gen Z friends — feel like they’re dust. I have found Doing a little Google Sheets data entry and praying that PayPal doesn’t make a mistake in their new reporting requirement. Trying to put that information into intangible, computerized boxes that don’t always match 1-to-1 with what you want is enough to guarantee complete panic.
Fortunately, QuickBooks Online is jumping into the fray to give us a leg up and demystify taxes, business and personal. QuickBooks, which you’ve probably heard of — they’ve been around since 1983 — has long been a favorite of tax professionals and small business owners. But if you haven’t been following them since 1983, starting can seem daunting. That’s why, this year, QuickBooks Online is offering “Free Guided Setup” so you can record your business at the same level of solid, established bookkeeping as your older competitors. They’re bringing the human element back into tax preparation so a whole new generation can finally get the footing they deserve.
Starting off on the right foot
If you are just starting your business, or want to in 2023, this section is for you.
QuickBooks Online has all the tools you need to track your business transactions. It can track your sales flow, help you deal with contractor payments, and more. A new feature has been added this year where your sales channels can connect directly to QuickBooks software. In other words, a lot less work and hassle for you. The software — and our tax structure — has grown so much over QuickBooks’ 40 years in business that it’s added tons of features and can save you a ton of potential time.
But wouldn’t it all be connected and difficult to work with? If I make a mistake, won’t I be audited?
They are not entirely irrational fears. In our collective minds, we can imagine the sepia-toned days of yesteryear, a clueless young entrepreneur sitting with the tax professional who helped them put everything together. Today, it can feel like YouTube tutorials and error messages are all the help we’ll ever get. QuickBooks Online is taking us out of YouTube and back into the comfort of a hands-on experience, connecting new users with a QuickBooks expert with its new free Guided Setup program. Here’s just a taste of the services your QuickBooks expert will provide:
- Help you connect QuickBooks to your bank and cards, so income and expenses can be easily tracked.
- Guidance on how to use all automated tools About you.
- Teach you the best QuickBooks tips and tricks to get you up to speed with your older peers.
The good thing about this new program is that not only does it come free, but you can save up to 50% on your QuickBooks Online subscription when you try it. Go ahead and see if it’s right for you:
Eliminate the mess
You may have been hacking it together for years, but tax time presents an extraordinary struggle for you every year.
Join the club.
Fortunately, QuickBooks Online is still there for you! In addition to the free guided setup described above (let’s face it, you’ll learn a lot about it that you’ll want to remove automatically after a few years of doing it yourself) you probably will also love taking advantage of QuickBooks Online’s live bookkeeping. While this feature is great for everyone, it can be especially great for those of us who know our recordkeeping hasn’t been as diligent as it has been the past few months. Why? Your QuickBooks-certified bookkeeper will help bring your past books up to date and then get you on track for a less confusing year. If wading through your payment records feels like walking through a jungle full of bulls, let QuickBooks do the trick.
It will also help you to properly categorize all the transactions you are currently evaluating and hope for the best all these years. With access to reports at your fingertips, you’ll always know how your business is doing and what changes need to be made. So, consider scheduling a free consultation with a QuickBooks-certified bookkeeper today to save you some future stress.