Income Tax Management Software for Efficient Tax Filing

Every year business owners have to face income tax filing. It is a major tax for businesses that reflects the financial results of the company. Preparing all the tax forms correctly is a time-consuming and nervous process. Save your time and make your income tax return error-free with Synder!
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To run a successful business it is highly important to make your accounting accurate. Sometimes proper accounting is a matter of time you spend on it. If you don’t want to spend a fortune on a professional bookkeeper, you need to consider accounting automation.
Forget about hours of accounting with Synder! Synder – is a smart bookkeeping software that will take off the burden of accounting from you. It provides multiple unique features that make income tax filing effortless and in short order.
What Synder Can Do For You
Synchronization
One of the main advantages of Synder is limitless historical data management. As far as your accounting platform allows, you can synchronize all transactions made even years ago. Synder synchronizes upcoming transactions automatically.
Categorization
Synder separates payment data into itemized inventory, locations, shipping, and discounts. As a result, you get full Tax and Sales reports ready for analysis. This data will give you an understanding of your sales and taxes.
Shipping
Do you want to see the real profit from the sale? The accounting automation software collects the shipping costs apart from the sale earnings according to the payment data. These expenses on the shipping you will find in the report as a separate item.
Itemized Data
Categorize your sales taxes, fees, and discounts and transfer them accurately without discrepancies. Get your shipping data recorded into the accounting software correctly.
Taxes
You will no longer have to track the taxes and fees of your payment processors manually. Synder will record taxes on the reports separately, so you will be able to see the net profit from the sales at any time.
Reporting & Insights
After reconciliation, when your books and checking bank account match, you should turn to your financial insights. Synder provides not only multi-payment support but also comprehensive reports of all connected payment processors.
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Success Stories of Synder Customers
Automate bookkeeping with Synder
It doesn’t matter whether you’re a small business owner or a certified accountant. If your accounting standards are high,
your business will benefit from using income tax management software.
Keep all transactions data in one place
With Synder, you can connect as many payment processors as you need. PayPal, Stripe, Square, Amazon, eBay – now all these transactions can be recorded automatically in your accounting platform. Look through the list of Synder integrations.
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Enhance sales and inventory track
No more manual inventory track on a spreadsheet! Synder details payments by inventory, customers, location, fee, discounts, etc. You will get a full report of data transactions that will facilitate preparation for income tax filing.
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Get accurate reconciliation
Reconciliation won’t be a headache for you anymore. At a one-button-press, you can match the payments with your checking account. Once all data come together, you can focus on tax filing with the help of online tax preparation software.
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Reach accurate & effective bookkeeping with Synder
Minimize the risks of errors in tax filing. Create an account in Synder and get your records in books kept properly.
Top 8 Tips for Income Tax Management & Filling
Learn how to deal with income tax!
Familiarize yourself with tax requirements. Even if you as an SMB owner don’t do tax filing on your own, don’t completely rely on your accountant. We are all humans. Get at least a basic overview of the accounting for a small business and tax filing. There are three types of taxes in the US: federal taxes, state taxes, and local taxes. And on each level, there are special tax brackets and procedure requirements that you should take into accounts.
Don’t put off reconciliation for later. Reconciliation causes the greatest difficulties in accounting. If you suppose to match the books and checking account in a few days, it means that you never experienced the desperation of trying to find a missing $5 by the end of the tax season. Automize this process as much as possible and allocate enough time to it.
Remember about tax deductions. Successful entrepreneurs never miss the opportunity to save their money. Tax deductions are an advantageous accounting tool that allows decreasing your tax liability. Don’t neglect them to finish the tax season much more profitable. Learn more about tax deduction tips for small businesses.
Meet the deadlines. The tax season usually starts at the end of January and finishes in the middle of April. However, this period is full of additional deadlines that navigate the whole tax filing process. When you meet the deadlines and do step-by-step tax filing, there is no use for stress and anxiety.
Study the options for the tax returns filing. The IRS suggests different options for tax returns filing. The most popular of them are IRS Free File and Mailing Addresses. Choose the best option for your business in advance to prepare your tax return at maximum in accordance with the method of filing. An accounting software details transactions by multiple categories to give you the full information about taxes.
Save time on hours of manual work. Whether you do bookkeeping on your own or apply to the services of a bookkeeper, you do spend unnecessary time and money on this. Accounting software will collect and detail all the data transactions instead of you! Just connect your payment processors and accounting platforms, the software will transfer all the historical data and synchronize current transactions.
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