Did you know that only 15% of new businesses make it past the first year? Now that you're one of the select few, the numbers favor you. In each subsequent year of operation, the business failure rate continues to decrease, flattening out around 33% in year 10.
But let's get down to taxes - how to make doing your tax return as painless as possible. In most cases, the hardest part is collecting your income and expenses, and slotting them into the right lines on Schedule C.
You've got all this data scattered across your bank, credit card, Paypal, ebay, Amazon, Etsy, etc. accounts.
This where Outright comes in. Outright automatically pulls in transactions from your business accounts, and auto-categorizes them into IRS-approved categories. It generates a Schedule C worksheet which you can then take to your accountant or tax preparation software. It's that simple.
Ease the pain of taxes!