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How Business Apps Can Help You Stay Legally Compliant

Accountants do so much more than print financial statements. They are largely responsible for making sure you stay compliant and everything reconciles correctly. Here are some ways you can make sure you are styling legally compliant with a few software programs.
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It can be a challenge for accountants to keep up with the latest tax code in every state and payroll compliance. So we use a few tools to help make sure that all ends are tied up. Here are some ways you can make sure you are styling legally compliant with a few software programs.

 

HR & Payroll

As you bring on employees it is important you are abiding by your state’s workers comp, HR, and tax laws. Programs like Gusto make this easy. From the moment you begin bringing on employees, Gusto walks you through the process of hiring and all the legal paperwork. 

Then as you continue to work with employees, Gusto makes sure your payroll taxes are accounted for and workers comp is paid.  

 

Sales Tax

If you sell products online, you must have sales tax software like TaxJar or Avalara. These programs monitor your sales in each state, to then notify you of when you need to begin filing for sales tax. It can be difficult for accountants to monitor this sort of sales without this type of software, so it is definitely a must!

 

Audits & Tax Returns

Whether you are facing the dreaded audit or another year of tax returns, you likely have a lot of documents that need to be sorted. Programs like Hubdoc make it easy to dump all your files and then have them quickly sorted. We use Hubdoc year round and find it has helped save us hours in searching for missing bank statements or saving receipts from our emails!

Don’t let a forgotten return or lost document be the reason you are in trouble with the IRS. Today, there are plenty of software programs that make it too easy for staying compliant within all areas of your business. Consider these programs when talking with your accountant.

Disclaimer:
This publication is designed to provide information on federal tax and accounting laws and/or regulations. It is presented with the understanding that the author is not rendering legal or accounting services.

This text is not intended to address every situation that arises or provide specific, strategic tax and/or accounting planning advice. This text should not be used solely to answer tax and/or accounting questions and you should consult additional sources of information, as needed, to determine the solution to tax and/or accounting questions.

This text has been prepared with due diligence. However, the possibility of mechanical or human error does exist and the author accepts no responsibility or liability regarding this material and its use. This text is not intended or written by the practitioner to be used and cannot be used by a taxpayer or tax return preparer, for the purpose of avoiding penalties that may be imposed.

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