ABN, Author at American Association of Business Networking

18Sep2023

How to Design and Use a Clever Tagline for Your Business

2023-09-18

You’ve got a business, and you want it to stand out. A tagline can help you do that. A clever and engaging tagline will help your customers recognize, remember and relate to your business. It will also help distinguish your company from your competitor and convey the message that your company has something unique or special to offer.

A good tagline should be a sentence or short phrase that sums up what your business does and what makes it different from the competition. It’s a one-liner you can use to over open conversations and networking connections. Plus, it’s an important tool for advertising and marketing. The best taglines are memorable but don’t have to be cute or clever. It should be easy to remember and make customers feel something.

Here are some tips for designing your brand’s tagline.

Take inspiration from other companies

When you decide on a tagline, do some research on what other brands in your industry say about themselves. How do they talk about their products? What words do they use? Are there any common themes among them?

You can also look at how larger companies — like Apple, for example — construct their messaging. You might notice that Apple uses simple language and avoids jargon when describing new technology. This kind of clarity helps set them apart from other computer manufacturers who rely heavily on technical terms or unfamiliar vocabulary.

Get inspired by other companies but don’t copy. See how you can place a clever twist on their tagline approach and make it your own.

Focus on a single benefit

Keep it simple and focused on one benefit. Don’t try to be all things to all people, and don’t try to be clever. It’s not a contest, so don’t worry about being the funniest or most relevant. Instead, focus on what sets you apart from your competition. Trying to convey too many benefits in one tagline will only confuse people and weaken your message.

Some of the best taglines to be inspired by include:

Nike: Just Do It
Dunkin’ Donuts: America Runs on Dunkin’
Apple: Think Different (which became part of their brand identity)
Coke: “The pause that refreshes”
McDonald’s: “I’m loving it.”
Pepsi: “Come alive with the Pepsi generation.”

Notice how short and memorable each is? If it takes them more than a few seconds for people to understand your tagline, or if they must read it several times to remember it, think of something new.

Use focus groups to get ideas

Focus groups offer an effective way to get an idea of what people think of your business before you spend money on branding. It’s a cheap method, too — just ask friends and family if they’ll be willing to answer a few questions about how they feel about your company. Write down every word they say that describes your business and see which ones are most common.

You might even set up focus groups for different audiences. Maybe ask friends for their opinion, but also set up interviews with people in your industry who could provide more insight into what makes them want to buy from you instead of someone else.

Make it timeless and relevant

If a tagline is too trendy, it can become dated faster than you think. Take “Just do it,” for example. It’s an iconic phrase that has become synonymous with Nike’s brand identity. It’s a short and memorable tagline that should withstand the test of time.

That’s what you want. When you choose a tagline, you want it to be timeless — something catchy but classy that will appeal to your target market no matter what trends are hot now. Your clients should look back years from now and recognize your brand.

A timeless tagline will be relevant for your customers for years after its conception. For example, Apple has used the motto “Think Different” since 1997, and since then, it’s been used on everything from print ads to billboards. As long as Apple stays true to its message — that they’re different than other companies — the slogan will continue to work into the future.

Put your tagline to work for you

Now that you have a tagline ready to go, it’s time to put it to work. Ensure you use your tagline in every aspect of your business, so people can see it everywhere and begin associating it with your brand. Use your tagline on social media posts, business cards, newsletters, and more. Put it to work for you.

Conclusion

A well-written tagline can be the difference between a mediocre business and a successful one. It can help you stand out from your competitors, attract new customers, and make a lasting impact on existing ones. Your tagline is the first thing people will see and hear when they encounter your brand. It’s crucial that it makes an impression, so take your time coming up with one.

Try some of these tips and see what works best for you and your business. Even if your tagline isn’t the most creative or catchy phrase in the world, it can be effective if it conveys what you do in a memorable way.

21Aug2023

What’s the Best Way to Find a Career Mentor?

2023-08-21

ABN

Careering

Mentoring is a proven way to improve your skills at work. What’s more, having a mentor can increase your chances of getting a promotion or a pay raise. Some companies actively run mentoring programs; some encourage mentoring but don’t require it; many will leave it up to the employee to make their own arrangements. Whether your company expects you to have a mentor or it’s something you’ve decided to do for yourself, finding the right person can be a challenge.

Mentoring should grow out of an existing relationship.

Sheryl Sandberg, COO of Facebook, has described situations where she’s been approached by people she doesn’t know and asked to mentor them. A good mentor relationship likely won’t work if you’re just abruptly asking strangers at a conference. You might have admired them for years, but if they don’t know you, there’s no way that they can sincerely agree to mentor you.

Your mentor can be your boss, but it’s usually best if they’re not.

In some companies with a flattened hierarchy, the relationship between you and your boss might be closer to mentoring than to oversight and management. That can be a positive thing, but the fact that your boss can be like a mentor doesn’t mean that he or she is the right person to ask. It’s much better to ask someone who knows you and understands your work situation but isn’t the person you’re directly responsible to.

Networking is one of the best ways to build up a mentoring relationship.

Remember, you’re not going to ask someone who doesn’t know you, and you’re going to find someone who understands your situation but doesn’t directly manage you. Of course, there are online networks such as LinkedIn, but they tend to suffer from too much noise and not enough genuine connections. Events and professional conferences are great places to form relationships, but don’t go with the sole purpose of finding a mentor. (That would be like going to a friend’s birthday party just to find a date.) Instead, build up a range of relationships with people. Find someone who can answer your questions but who will also listen to your suggestions. When you can have conversations with someone that both challenge and affirm you, keep building that relationship.

Have a career plan in place before finding a mentor.

Mentoring without a career plan is like trying to use your car’s navigational system without putting in a destination. Mentoring might help you reevaluate your plans — it can certainly help to increase your self-confidence and ambition — but it won’t provide you with a direction if you have no idea where you’re headed. Identify your areas for development. Which skills do you lack? What kind of situations do you avoid? Who do you find it hard to work with? Try to find a mentor who will challenge your deficits as well as build up your strengths.

Having a mentor at work can open doors to better job prospects and a more fulfilling career. A mentor needs to be someone who knows you well enough to see your potential and understands your situation so they can appreciate your problems. Identify your strengths and weaknesses and use networking opportunities to create a range of different relationships. When you develop a relationship that challenges you and builds you up, then consider asking about mentoring.

24Jul2023

Charismatic Leadership: How Personality Traits Can Drive Success

2023-07-24

ABN

Leadership

Charismatic leadership creates a strong emotional connection between leader and followers, resulting in a powerful force that can drive success in both individuals and organizations alike. This connection is often based on the leader’s personality traits, such as confidence, charm, optimism, and the ability to connect, inspire, motivate, and engage others. Charismatic leaders create a sense of purpose and direction that can help their followers achieve greatness.

Let’s take a closer look at the traits associated with this style of leadership, and how it can drive success in various settings.

Confidence

One of the most important traits associated with charismatic leadership is confidence. Charismatic leaders are often highly self-assured individuals who are comfortable in their own skin, they believe in themselves and their abilities, and they are not afraid to take risks or make bold decisions. Their expressivity and confidence are contagious and inspire others to believe in themselves and their own potential.

An example: Oprah Winfrey, widely recognized as one of the most successful and influential media personalities of all time, has built a multi-billion-dollar empire through her business ventures. Throughout her career, Oprah has displayed unwavering confidence in herself and her abilities, often taking bold risks and making difficult decisions with conviction. She has always been unafraid to speak her mind, and her confident demeanor has helped inspire millions worldwide to pursue their dreams and achieve success on their own terms. Despite numerous challenges and setbacks throughout her life, Oprah has remained steadfast in her belief in herself, and her unwavering confidence has been a driving force behind her success.

Optimism

Another common trait is optimism. Charismatic leaders see the bright side of things, even in the face of adversity. Faced with challenges, they find the silver lining, no matter how tough the situation is. Their positive attitude is infectious, and their upbeat countenance elevates others. This is particularly vital during rough times when it’s easy to feel disheartened or overwhelmed. Charismatic leaders provide a beacon of hope, helping everyone focus on the bigger picture.

Charm

Charismatic leaders have a certain charm that sets them apart from the rest. They have a natural ability to connect with people and make them feel comfortable. Maybe it’s their infectious smile or their witty humor that draws people in, but there’s no denying the charm they possess.

This charm is an asset in building strong relationships with team members. Charismatic leaders can create a sense of camaraderie and foster collaboration within their teams. They have a way of making everyone feel valued and appreciated, which leads to a more positive work environment. When team members feel comfortable around their leader, they’re more likely to share their ideas and contribute to the team’s success.

Inspiring

One of the key benefits of having a charismatic leader is the ability to build a strong network of supporters. When a leader inspires people, they become invested in the movement and reach out to others who may be interested. This can help build a sense of community and shared purpose, which can be crucial when it comes to taking action to achieve change.

This can also be effective in politics and social movements. Leaders with charismatic qualities often rally large groups of people around a particular cause or vision. They are often skilled at communicating their message in a way that resonates with others, and they can generate public support for their cause. They inspire people to believe in their message and often generate significant momentum and enthusiasm for their cause. Additionally, charismatic leaders are often skilled at negotiating and building coalitions, which is important when it comes to enacting change.

Conclusion

Having a charismatic leader can have a significant impact on the success of an organization. Charismatic leaders possess a range of personality traits that make them stand out from the crowd, including confidence, optimism, and an ability to inspire others. They’re also highly skilled at networking and building relationships, which can be invaluable for securing new business opportunities or forging partnerships with other organizations. These leaders can create a vision that resonates with followers and empowers them to achieve extraordinary results.

While not everyone is born with charisma, the trait can be developed over time through practice and self-reflection. By fostering a culture of charismatic leadership, organizations can drive success and achieve their goals.

3Jul2023

ABN Newsletter Volume 6, Issue 4 July 2023

2023-07-03

ABN

Newsletters

19Jun2023

Five Ways to Find a Business Partner

2023-06-19

ABN

Entrepreneurship

Though most entrepreneurs start out alone, new businesses increasingly start as partnerships. Good partners share the workload, the risk, have complementary skills, and provide second opinions. Your sources for business partners will depend significantly on your previous experience. You may have to explore far outside your bubble, but if the business idea is good, then the right business partner is out there.

Networking

If you’re starting a business in a field where you have little experience, you’re probably going to have to do a lot of networking to find a business partner. You’ll be approaching people with more experience, so make sure you have good new ideas and a solid business plan to bring to the table. Having strong confidence in these ideas will help you get through.

Start making contacts at trade shows, local business association meetings, and professional associations, depending on the type of field you’re looking to enter. Make sure you can concisely break down what your business is, and don’t be shy about asking people for connections.

Consider also looking at volunteer and non-profit work to build up your resume and network. A wide range of energetic, confident people work at these organizations who might know important people or have the makings of good potential partners themselves. Coming into contact with a broad cross-section of people will also help you work out kinks in your business plans. Pitch your ideas to willing listeners, and take constructive criticism.

Former Mentors

If you’ve had good relationships with bosses and other experienced business leaders in the past, consider them as potential partners and ask them for advice. It might seem awkward working with a former boss in an equal partnership, but the additional experience they bring is often invaluable.

If former mentors suggest a partner, be sure to get to know them well before jumping in. Just because someone you trust recommended them, it does not necessarily mean they are the right fit. Maybe they worked well with someone you trust, but it does not mean they’ll work well with you.

Complementary Coworkers

Consider former coworkers as well. Their abilities should be easier to judge, and you’ll already know if you work well together, whether they share your vision, and whether you can trust them. However, avoid coworkers that are too similar in skills and experience. Consider people you know well, but who worked in separate teams or departments. For instance, someone from marketing might partner well with a coworker from design.

Different Skill Sets

Entrepreneurs tend to be big on vision, but uninterested in the nitty-gritty details of running a business. A more technically minded person, such as an accountant or an engineer, could help keep you down to earth when you get lost in the cloudy possibilities of tomorrow.

On the other hand, if you’re a tinkerer with a great idea, a good managerial type could help you get out of your box. They can take care of the long-term planning to bring your detailed idea forward into a more generalized environment.

Friends and Family

Many people avoid choosing friends and family as business partners, and often for a good reason. But just because it can be a bad idea does not mean it always is. More than any of the other suggestions given, you probably know your friends and family well, which means you probably know whether you can get along with them and whether you can trust them. Now, this does not necessarily mean picking your best friend or favorite sibling as your business partner; they must share your vision but offer their own set of skills.

Take advantage of all your contacts and search widely for a business partner, but don’t forget people closer to home. Someone is out there who shares your vision, can take the work, and offers complementary skills. It might take a little time and networking, but a good partner can take a business to places an individual entrepreneur can’t make it alone.

15May2023

How to Start a Conversation With Anybody Regardless of the Situation

2023-05-15

ABN

Networking

What happens if there is somebody you want to meet, and you have absolutely no connection with them? How do you approach them and make the critical first move in meeting them?

Common sense and basic communication skills tell you the first thing you should do is seek out something you two have in common, something you can both initially bond over and continue to discuss. Even if you don’t know anything about the person, you can easily find common ground you share.

As luck has it, you already have a connection with everybody in the world, you just haven’t realized it yet. It’s something that everyone has in common: failure. Failures and learning lessons are the one life event that has been universally experienced, and thus, can be your link to conversing with complete strangers.

So, how do you go about capitalizing on that connection? Here’s an example of how an encounter could play out using this technique.

The first step is to approach the person and comment on something you both observed or experienced. For instance, if you are at a business meeting and see somebody you want to meet, approach them during a break and ask something innocent, such as “So, did you understand ______?” (Fill in the blank with some aspect of the meeting.) The idea is to ask an open-ended question and get a response from them.

After they’ve responded, keep them engaged by casually bringing up one of your failure stories. Here’s an example of how the exchange could go. (Note: The keys to this conversation starter are to speak casually and let everything flow. This isn’t a script. Your approach should match your personality and the conditions of the situation.)

You: “So were you able to grasp everything that last speaker went over?”
Them: “For the most part, yeah.” (If they continue the conversation, great. But if not, here’s where you step back in.)
You: “There were a few things I couldn’t quite wrap my head around. But I can’t fault the speaker. I once gave a presentation that I thought would resonate with the audience, but I ended up losing them early on because I spent too much time answering one person’s question, which went way off topic into an area I wasn’t familiar enough with. It was a good life lesson though. Now I make a conscious effort to stick to my outline, even if it means politely corralling questions back towards the subject matter.”

This is the point where you wait for their response. What they say next is your opportunity to connect with them. The worst thing they could do is not say anything and walk away. Very few people are going to do that. Most people are going to ask a question, or give some other reaction to your story. And that allows you to continue the conversation.

So go ahead and break the ice, and then don’t be afraid to reveal a past learning experience. The person you are speaking might be a little surprised by your story, but they will also find you genuine and open. And you never know – they could end up becoming the most influential person in your network.

17Apr2023

How to Prepare for an Interview

2023-04-17

ABN

Careering

Interviewing is a vulnerable experience. Interviewers will judge your employability after a short conversation, placing pressure on you to portray yourself as articulate, knowledgeable, and personable. But you can ease some of that pressure by putting in some time to prepare. Below are four preparation tips with specific examples of ways to get ready for an interview.

1. Research the company.

An easy first step to preparing for an interview is to perform company research. Part of this step means exploring the company website, browsing their social media channels, and looking for any recent news or press releases on Google. You should also keep an eye out for things that describe the company’s values. Not only will this help tailor responses to interview questions so they align with what the company is looking for, but it provides insight into the stated character of the company. If you and the company have a difference in values, it may not be an ideal fit. It’s also important to research and understand the product, service, or mission the company operates around. This will help you articulate educated and pointed questions during the interview, in addition to helping respond to questions with the proper context.

Looking up reviews from current or former employees could also provide some personal and often honest opinions that are helpful when evaluating the job.

2. Prepare your background story.

Most interviews start with you being asked to talk a little bit about yourself. This answer should be kept short and no more than a minute long. It’s an opportunity to set the tone and provide personal touches that may not have been present in your job application. A common mistake in this part of the interview is simply reciting your resume. Time is wasted going over information that is already known by the interviewer. You should touch on the “why” behind jobs you’ve taken as well as what prompted you to look for a new one. It’s also helpful to include personal information such as interests outside of work or a reference to where you grew up. This helps introduce you as a person outside of the confines of a resume or cover letter.

3. Create responses to interview questions.

A starting point for preparing responses to a variety of questions is to recall and list notable situations that have occurred, preferably in a workplace setting. Interviewers often ask for examples that were challenging, required teamwork, disagreement, or were under a tight deadline. By familiarizing with a couple of significant examples, they can often be applied to a variety of interview questions. For example, a story about how a teammate quit right before a deadline could be shaped to highlight skills related to teamwork, overcoming a challenge, or operating under time pressure.

A common mistake in this portion of the interview is to speak in vague or theoretical generalities. Interviewers want specifics, and without them, it portrays either a lack of attention to detail or preparation. You should thoroughly read over the job description and try to put yourself in the shoes of the interviewer. If roles reversed and you were asking the questions, what would you want to know?

4. Compile a list of questions.

Interviews typically end with an opportunity for you to ask questions. This is a critical part of the process, as it provides the chance to properly vet whether the job is a good fit, and it shows preparation and engagement. Ending an interview with no questions to ask gives the impression of a lack of interest.

You can use the job description as a starting point. If details about the responsibilities are unclear, this part of the interview is the time to ask. This is also the time to use background research. Asking questions related to recent developments or news shows curiosity. Questions about the products or services of the company show a serious consideration of the job. Additionally, since the interviewer works at the company, they should be used as a resource. Ask about what they like and don’t like about the company, the culture, or the challenges they faced when they were a new employee.

Taking a focused approach in preparing for an interview not only increases the likelihood of having a quality interview but will also decrease the anticipatory stress. By following the aforementioned steps, you can set yourself up for success on the big day.

3Apr2023

ABN Newsletter Volume 6, Issue 3 April 2023

2023-04-03

ABN

Newsletters

15Mar2023

Promoting Your Business With LinkedIn

2023-03-15

ABN

Social Media

LinkedIn is more than just a social network – it’s a tool that can help you grow your business. If you are not using it to its full potential, you are missing opportunities to connect with new people, expand your network, and learn from other professionals who share similar interests or goals as yourself.

Why should you take advantage of what LinkedIn has to offer? Here are five reasons why you should use LinkedIn to promote your business:

It helps you connect with potential customers
It helps you find employees
It can help you establish credibility as an expert in your field
It can help you get free publicity for your business through influencer endorsements and recommendations.
It can help you find new opportunities for partnerships

Now let’s look at some steps you can take to promote your business on LinkedIn.

Create a LinkedIn page for your business.

If you have not already created a business page for your brand, this is the first step to start building an audience on LinkedIn. Once your company has its own independent presence on the site, encourage others within your field or industry to visit it and “follow” the content you share there. You can do this using any number of promotional tools, including email marketing campaigns or even posters in local office buildings where potential clients might pass by them every day (and therefore see them multiple times).

Build a community of followers.

Every business needs a community, and LinkedIn can help you build one. You can connect with people you know, people interested in your business, people who have a connection to your business, or people who have a connection to other businesses relevant to yours. For example, you can connect with:

employees of companies that use the same software as you.
employees of companies that supply the materials you need for your products or services.
employees of companies where customers commonly visit or shop (for example, hotels).
individuals whose skills align with the skills required for your job openings.

LinkedIn is all about connections and building relationships with others with similar interests and goals. Use this to your advantage by creating groups based on topics relevant to your industry and encourage people to join them. These groups will help you build a community around your brand, which could lead to new partnerships or opportunities for growth down the line.

Build relationships with employees, leaders, and customers.

One of the most important things you can do as a business leader is build relationships with your employees and customers. Linkedin allows you to connect with people from all over the world with similar interests. This can help you find new customers for your business, or even find new employees for your company. How can you do this?

Get active in groups. Groups are one of the best ways to meet new people and engage with them. Join groups relevant to your industry and share content from other members in your feed or comment on other people’s posts.

Follow people who are influential in their field and you’ll have access to their updates and news, as well as their insights on topics related to your industry. If they follow back, you can send them direct messages with questions or comments about what they posted.

Network with people who work in different departments at your company. You might not have much in common with someone from finance or human resources, but there may be some overlap between what they do and what you do, which makes it easier for both of you to understand what each of you does for a living.

Document your company’s history.

Documenting your company’s history is an important part of presenting your business as a reliable partner to customers and suppliers. You can do this with a timeline, which you should include on your website, or with short stories about the milestones in your company’s history. For example, if you were to write about how product X came to be, who was involved in its creation, what challenges they overcome during development, etc. Such content gives people an idea of what it took to get to where you are today (and also helps them see that you’re not just another fly-by-nighter).

Cross-post content from your blog to LinkedIn.

LinkedIn is a professional network, so it’s not a good idea to post content that isn’t work-related. You can post content related to your business, but it should be professional. It’s also okay to share content related to your personal life or hobbies, as long as it doesn’t compromise your professionalism in any way.

You can even use LinkedIn to highlight what you have accomplished in the past and how it has helped shape who you are today. Post content that solves problems, too. If you create quality posts relevant to your followers (and their followers), they’re more likely to share them with their networks than if they were just being posted onto their profiles alone. This means more people will see it and engage with it

Post job openings.

Posting a job opening on LinkedIn is a great way to reach more people who may not follow you on other social media platforms. You can also use it to find the right candidates for your open positions. LinkedIn offers free tools for posting and reposting jobs, including a “jobs” tab that allows you to customize how your ad looks and where it appears (e.g. career sites, company pages). As a bonus, LinkedIn sometimes offers discounts when hiring through their platform. Just be sure the position is eligible before signing up!

Tracking down people on LinkedIn is not as easy as on Facebook, but the people on it are typically more engaged and have more professional success, so the payoff can be worth it.

Conclusion

LinkedIn is a powerful tool that allows business owners to connect more personally with their staff and customers. It’s also an opportunity for companies to share what they do and how they do it, giving insight into their culture.

21Feb2023

Man checking bankbook with "tax" underlined

Small Business Tips for Easing Your Tax Burden

2023-02-21

ABN

Financial Wellness

As every small-business owner knows, taxes can quickly gobble up a huge chunk of revenue. As such, it’s a good idea to take advantage of deductions and credits to reduce the tax burden. Here are some not-so-obvious tips to help you reduce your tax bill this year.

Understanding deductions and credits

Unbeknownst to most small-business owners, knowing the difference between deductions and credits may save you a lot of money on taxes. Simply put, deductions reduce your taxable income, while credits reduce your tax liability directly.

Let’s say your business raked in $50,000 last year, and you had $5,000 in deductible expenses. In this case, your taxable income would be reduced to $45,000. In other words, you will owe less tax on your income. On the flip side, if you owe Uncle Sam $5,000 in taxes but are eligible for a $1,000 tax credit, you would only owe $4,000 in taxes.

Understanding deductions and credits is important because it can help you save money on your taxes. However, it’s also important to make sure you’re eligible for the deductions and credits you’re claiming and to keep accurate records of your expenses.

Keep accurate records

As a rule of thumb, always keep track of all business expenses, including receipts, invoices, and bank statements. The accurate records will help you identify deductible expenses at tax time and make it easier to file your taxes.

For example, if you purchase a new piece of equipment for your business, you can claim a depreciation deduction for the equipment’s cost over several years. However, you need to keep a record of the equipment’s purchase price, date of purchase, and other relevant information to claim this deduction.

Similarly, if you use your vehicle for business purposes, you can claim a deduction for the business use of the vehicle. To claim this deduction, you need to keep a log of the mileage driven for business purposes, including the date, purpose of the trip, and the starting and ending odometer readings.

Without accurate records, you may miss out on eligible deductions and credits, which can increase your tax liability.

Don’t overlook home office deductions

One of the most commonly overlooked deductions by small business owners is the home office deduction. If you use a portion of your home exclusively for business purposes, you may be eligible to claim a home office deduction on your tax returns.

However, it’s essential to meet the IRS requirements for claiming a home office deduction. For starters, the space must be used exclusively and regularly for business purposes, and it must be your principal place of business or where you meet clients or customers. Additionally, the space must be used solely for business purposes and cannot be used for personal purposes.

To claim a home office deduction, you need to calculate the percentage of your home used for business purposes and multiply it by your total home expenses. For example, if your home office takes up 10% of your home’s square footage, you can deduct 10% of your rent, utilities, and other home expenses.

Hire a professional tax preparer

Navigating the tax code and filing taxes can be a laborious and time-consuming process, especially for small business owners who may not have experience with tax preparation. The solution is to hire a professional tax preparer. A tax preparer does more than just file your returns. They can also provide valuable guidance on tax planning and strategies for reducing your tax liability.

When choosing a tax preparer, you must do your homework and choose a reputable and experienced one. Look for credentials such as a Certified Public Accountant (CPA) or Enrolled Agent (EA) and ask for referrals from other small business owners.

Working with a professional tax preparer can also give you peace of mind and reduce the stress associated with tax season. They can even handle communication with the IRS on your behalf and help you avoid audits or other tax-related issues.

File your taxes on time

As a small-business owner, it’s important to understand the deadlines for filing your tax returns and any applicable extensions. The tax-filing deadline for most businesses is March 15 for S Corporations and April 15 for partnerships and sole proprietorships. However, if you need more time to file your returns, you can request an extension by filing Form 7004.

Failing to file your tax returns on time can result in penalties and interest charges, which can quickly add up and increase your tax liability. Additionally, filing your returns late can delay any refunds or credits that you may be eligible for, which can impact your cash flow.

To ensure that you file your returns on time, it’s essential to keep accurate records throughout the year and stay organized during tax season. Consider using accounting software or working with a professional tax preparer to streamline the process and ensure you meet all IRS requirements.

Conclusion

Running a small business is hard enough. As such, it’s best to get a professional tax preparer to help file your taxes. They will help you take advantage of provisions in the tax code that will give you some reprieve. More importantly, a professional tax preparer will ensure you are not at loggerheads with the IRS.

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