If you’re reading this, you’ve survived 2018’s busiest tax season. Congratulations, you made it! Taxes require hours of the precarious organization of documents, tracking down receipts, and crunching numbers. Even the IRS has a page to help you reduce stress at tax time.
All of these tasks cost you time, which costs you money, and sometimes a little too much sanity. As a business operator, your time is the most valuable resource you have, and you’re spending way too much of it suffering through tax season the old way.
Shogo makes it simple for businesses to prepare for tax time all year round, and tracks every number you need in one place. Shogo turns a taxing season into a relaxing season.
Time is Money
As a business operator, your time is always the most precious commodity you have. But like most Americans who jump into owning or operating a business, you want to do everything yourself to save money. But are you really saving money by doing everything yourself?
How much time do you spend each day on accounting? Your daily tasks may include reconciling the books, adding up sales, and tracking every loss and return. Research shows business owners can spend between 60-100 hours per year on Federal Taxes alone, meaning you’re probably spending hundreds of hours per year doing your own business accounting.
Shogo shows you just how much money and time you can save every month, and every week. The savings add up and easily are greater than the cost of the software.
For as little as $30/month you can offload your daily business accounting to Shogo and your point of sale system. This saves you hours every week that are better spent managing your business.
Tax Mistakes Are Expensive
Taxes are often expensive for businesses, but these costs pale in comparison to the cost of mistakes. The IRS can hit businesses who were inaccurate with a 20% penalty. This is a tax just for being wrong. If the government suspects fraudulent intent, that penalty surges to 75%.
That’s a very steep cost to being human. But being human isn’t an issue for Shogo, which is directly integrated with your additional accounting software and your Point of Sale. Once your setup is complete, data moves from your point of sale to your accounting software automatically each day. You’ll make fewer mistakes, and spend far less time tracking down vital documentation.
Most importantly, you save yourself the money you’ll be charged for filing late, incomplete, or inaccurate returns.
Assuming 100 hours to do your Federal Taxes, that’s 2.5 weeks of time you’re pouring into a job that a machine can do with more accuracy and less time. That’s a vacation or two for the entrepreneur who puts their soul into the success of their business. Handing off of your financial information to your accountant simplifies the process for both parties, and your taxes should take less time with all necessary information on hand.
If you look at WebMD’s page on reducing stress at tax time you’ll see advice on not procrastinating, and hiring an expert to help with tax preparation. Shogo offers both of these features and more for business owners who want to reduce stress year-round.