Don't Make Tax Prep a Once-a-Year Event

Tax season can be stressful for anyone, but nobody knows the demands of compiling records and poring over the books like a small-business owner. Without a dedicated finance or bookkeeping department, most small-business owners end up having to do the tax prep-work themselves—a task that a recent AP article on MSNBC.com says often is set aside until tax day is approaching.

Instead of thinking of taxes as a once-a-year event, the article says, small-business owners should integrate tax work into their regular operating routine to ease the pain of last-minute preparation. If getting your books organized—and keeping them that way—seems too daunting, the article recommends delegating the task. And though hiring the job out can sound expensive, it could save you lots of time—and money—in the long run.

For more helpful tax-time hints, visit the 2006 Tax Resources section of NFIB.com.