1. Organize Your Financial Records

• Start by gathering all your essential financial documents:
• Profit and loss statements
• Balance sheets
• Expense receipts
• Invoices
• Bank and credit card statements

Well-organized financial records are the foundation of effective tax preparation for small business owners. Using bookkeeping software or working with small business accountants in your area can make this process easier and more accurate.

 2. Track and Categorize Business Expenses

Next, ensure all your business expenses are properly tracked and categorized. Common deductible expenses include:

• Office supplies
• Travel and meals (business-related)
• Marketing and advertising
• Employee salaries and benefits
• Rent or home office space

With professional accounting services in Lakewood, Colorado, you can ensure these deductions are maximized and categorized in accordance with current tax laws.

 3. Prepare Payroll Tax Documents

If you have employees or independent contractors, you’ll need to file and send out the appropriate forms:

• W-2s for employees
• 1099s for contractors
• Payroll tax filings (federal and state)

A tax professional help provider like Charles M. Ertel, CPA, LLC can assist in making sure all deadlines and requirements are met to avoid penalties.

 4. Calculate Estimated Tax Payments

Small businesses are often required to pay quarterly estimated taxes. If you haven’t already made your payments, or you’re unsure how to calculate them, now is the time to get assistance.

Our team at Charles M. Ertel, CPA, LLC offers reliable tax services in Lakewood, Colorado, ensuring your estimated payments are accurate and timely.

 5. Check Eligibility for Tax Deductions and Credits

Many small businesses in Lakewood qualify for valuable deductions and credits. These may include:

• Section 179 equipment deduction
• Qualified Business Income (QBI) deduction
• Health insurance deduction
• Business vehicle mileage deduction
• R&D tax credit (if applicable)

Working with professional tax preparers in Lakewood, Colorado ensures you won’t miss out on any of these valuable savings opportunities.

 6. Review Last Year’s Tax Return

Compare this year’s financials with your previous tax return. It helps ensure you didn’t miss any sources of income or deductions. It also sets a baseline for evaluating business growth or losses.

A small business accountant in your area can review last year’s filing to identify areas for improvement or savings.

7. Schedule Time with a Tax Professional

DIY tax filing might seem tempting, but mistakes can lead to audits or missed deductions. That’s why many small business owners in Lakewood turn to tax professional help from reputable firms like Charles M. Ertel, CPA, LLC.

We offer professional accounting services in Lakewood, Colorado, tailored specifically to small business needs. From bookkeeping to tax planning and preparation, we ensure you’re set up for success—before and after tax season.

 8. Double Check All Deadlines

Make sure you know all important IRS and state filing deadlines:

• Federal tax filing deadline
• Colorado business tax deadline
• Quarterly estimated tax payment dates
• W-2 and 1099 distribution deadlines

Missing a deadline can result in unnecessary penalties. Let Charles M. Ertel, CPA, LLC manage your filing calendar so you can stay focused on growing your business.

Why Choose Charles M. Ertel, CPA, LLC?

At Charles M. Ertel, CPA, LLC, we specialize in tax preparation for small business in Lakewood, Colorado. Our experienced team of professional tax preparers and accountants provides personalized support to help you minimize tax liability and keep your business financially healthy.

Whether you need help organizing your financials, filing returns, or year-round tax professional help, we’ve got you covered.

 Final Thoughts

Tax season doesn’t have to be stressful—especially when you’re equipped with the right resources and professionals. Use this checklist to stay organized and informed, and consider working with trusted tax services in Lakewood, Colorado to streamline the entire process.

For expert guidance and peace of mind, connect with Charles M. Ertel, CPA, LLC today. We’re here to help your small business thrive—this tax season and beyond.