Tax Preparation
Accounting & Bookkeeping Glossary
Definition
Tax preparation is the process of compiling financial information and filing tax returns with the IRS and state agencies. For business owners, this includes income tax, self-employment tax, quarterly estimated payments, and various information returns (1099s, W-2s). The quality of your tax return is only as good as the quality of your books — clean bookkeeping makes tax prep faster, cheaper, and more accurate.
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