In a recent Town Hall, we sat down with Michelle Cook, CPA to talk small business taxes for 2021. Suffice to say, there was a lot to unpack.

You can watch the full replay and RSVP to our upcoming “Financial Freedom” series right here. But we figured we’d save you a little time by collecting all of Michelle’s favorite resources, along with some stellar advice, below. Here are some must-reads and must-haves to help you prepare for April 15.

Small Business Tax Resource List (2021)

Best Software for Bookkeeping: QuickBooks

“I Love QuickBooks! I just think they’re awesome. I generally recommend the Simple Start version online to my clients.”

Best Software for Taxes: …The IRS?

“A lot of people don’t know this, but the IRS has free software out there to file your tax return. If you make less than $72,000 a year (and when I say ‘make,’ I mean your profit, not your sales), then there are free options for you.”

Receipt Tracking

“I’m all about simplicity, so here’s what I do for myself: If I get emailed a receipt, I just have a folder in my email where I file that. If I have a physical receipt, I take a picture with my phone and save it to a Cloud folder within my Google drive. 

My feeling on receipts is that you’re only going to have to produce your receipts if you get audited. It’s important to keep your receipts, and you should have a place for them, but I’m not going to go color-coding my receipts if I have only a ~3% chance of another person looking at them.” 

Additional 2020 Small Business Tax Resources

Where to Find Michelle