Small Business Tax Preparation Made Easy With Tax Assist

Simplify tax prep with Lendio’s easy-to-use tax calculator. You’ll be ready for your next meeting with your accountant.

Simplified Tax Preparation for Your Small Business

Get free tax assistance with Tax Assist when you sign up for Lendio’s small business solution. It’s as easy as 1, 2, 3.

Expert Tax Checklist

Answer a few questions about your business to get started. Tax Assist will walk you through exactly what you need to get your docs and finances in order for tax season, so you aren’t left guessing.

Organized Tax Docs

Link business accounts to automatically import transactions for more accurate reporting. Tax Assist keeps all your relevant tax and financial data in one place for easy reference and hand-off to your accountant.

Tax Estimator

Calculate how much you’ll owe in taxes and plan for the money you’ll need in advance. Avoid painful surprises on tax day—Tax Assist will estimate your taxes for you so you can plan ahead with confidence.

Benefits of using small business tax preparation software

Managing taxes as a small business can be overwhelming. From collecting all your records to identifying and filling out the right forms, getting your taxes ready can feel almost as painful as actually paying them. 

That’s why more and more people are turning to small business tax preparation software. The right tax prep solution will not only simplify tax season, but it will work seamlessly with your financial platform to automate your invoicing, tax, and accounting operations from end to end. 

Screenshot of Lendio Small Business Solutions dashboard

Maximize your returns.

Running a small business means every dollar counts. Small business tax preparation software puts money back in your pocket by reviewing your unique tax situation to uncover the best deductions for you. Discover ways to save on tax day by completing our Tax Health Checklist, so you can maximize your returns.

Save time.

Keep all your tax documents, 1099s, and financials organized in one comprehensive document. No more haphazard filing systems or mental notes you forget later—answer all of your CPA’s questions in one efficient document, and you’ll be their favorite client.

Track the money coming in.

Quickly see your income in a daily, weekly, monthly, and yearly view. With real-time visibility into your cash flow, you can make better decisions and focus on the areas that provide the most value to your business.

Understand where the money is going.

Be aware of your business expenses and how much it costs to do business. The right small business tax preparation software should integrate with your business management platform so you can manage day-to-day expenses without costly surprises on tax day. 

Manage the status of your invoices.

Monitor your invoices whether they are paid, unpaid, or overdue. Check to be sure you are collecting on every job.

Screenshot of Lendio invoicing software

Get Started With Our Small Business Tax Preparation Checklist

Beat overwhelm and understand your taxes with our easy-to-follow small business tax preparation checklist designed by experts, built for you. Tax Assist walks you through the tax prep process so you can confidently gather everything you need for tax season. 

Get organized fast by checking off key steps like the ones outlined below:


Follow up on overdue invoices

Tax calculations rely on accurate accounts of your business income and assets. Send out reminders to collect on outstanding income for the year. 

Pro Tip: Any invoice overdue by 90 days that you are unable to collect is considered “bad debt” and may be eligible to be a tax write-off. Find more savings like these with the right small business tax preparation software.


Match and categorize transactions

Importing your income and transaction reports is just the first step. Your taxable income is affected by how you recognize your income and expenses. 

Review your transaction records to make sure they are properly categorized and that there are no duplicates between your imported and manual records. By matching and categorizing your transactions, you’ll have an organized view of where money was earned and spent in your business.


Reconcile bank accounts

Errors in your books can have a huge impact on your taxes. You need a reconciled record of your business income and expenditure for your tax return. 

Thankfully, bank statements are reliably accurate, so checking your books against your bank accounts can help you spot mistakes in your accounting, catch any wrongful payments or suspicious activity, and identify any tax-deductible expenses.


Generate your 1099 report

Do you work with independent contractors? You owe any contractors that you’ve paid $600 or more in the past year a 1099 form. Review your list of vendors that are eligible for a 1099 form to generate a report that is compatible with most online filing services.


Prepare your list of depreciable assets

Eligible expenses can be identified as depreciable assets, which is a tax strategy that allows you to deduct a portion of the lost value on your taxes each year. Create a list of expenses for your CPA to identify as depreciable assets when you file your taxes.


Export your documents for tax preparation

Once you have your financial records updated and reconciled, you can export them, or invite your accountant to view your account for no cost! Tax Assist makes it easy to import, store, and organize your financial documents in one place so you can quickly export the records you need for tax day.


Handoff your books to your tax preparer

Tax Assist keeps all of your tax information in one place, so hand-offs to your accountant are a snap. Simply share your records directly through Tax Assist or export your tax files to send.

Small Business Financing

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