Preparing your business for tax season? Here is how business credit reports can work to your small business's tax advantage.
Credit reporting agency fees are a business expense that many small-business owners overlook. Check with your tax preparer on the routine expenses you've incurred accessing business credit reports from Experian. To download your receipts, sign into your account now
If someone fails to pay your business, the bad debt may be deductible. It depends on the kind of product your business sells and if it is cash-based or accrual-based. Be sure to discuss this issue with your tax preparer.
If you're searching for a new tax preparer, always check out the preparer's business before you hire. Research the tax preparer's business credit report
. A key confidence indicator should be a business's longevity — the entity has been in business at least five years with no legal filings.