Downloading a web file for online tax filing purposes is a trustworthy alternative to using a cloud-based system, if your business:
- …cannot afford cloud-based software
- …prefers to save its data to a local server
Electronic filing with a downloadable system can potentially save small businesses money while offering them greater convenience and accessibility. Whether you do not want to send data to a third-party vendor or you prefer to meet the Internal Revenue Service’s deadlines on your own terms, in-house and downloadable software help give back some of that control.
Advanced Micro Solutions’ 1099-etc E-Filer software makes 1099 and W-2 processing fast, efficient, and more cost effective for small businesses. Eliminate the cost of expensive 1099 and/or W-2 forms with our customizable software. Our E-Filer can be used as an add-on to a base W-2/1099 Forms Filer program.
Who Needs a Web File for Online Tax Filing?
Some businesses prefer a cloud-based e-filing solution, whereas others work better with their own in-house, desktop program. Nonprofits, religious institutions, and smaller businesses may find that an in-house system has enough comprehensive solutions to meet their needs while also meeting their budget. An intuitive system can also help a less experienced tax filer avoid making needless errors or inaccuracies while handling their taxes for the first time.
Best Practices for Electronic Tax Filing
Navigating tax season may feel so complex that you need to hire an accountant or outsource tax management to a third-party provider. There are tips and tricks that you can utilize if your business is looking to save money with an in-house web file for online tax filing.
Gather and Save Essential Documents
The Internal Revenue Service has specific expectations when it comes to which files you keep records of and how long you keep the files stored in a system. Stay proactive by collecting:
- …all necessary tax forms and documents. In-house software should allow you to store W-2 and 1099 forms before you need to e-file them with the appropriate agency. Use an affordable desktop system that is scalable so that your business can hold onto as many records of digital asset transactions and income documents as needed.
- …important receipts and records. Maintaining easy access to any receipts for charitable donations or work-related expenses is simplified with an in-house web file for tax filing. Knowing where your receipts are and how to access them will be beneficial in the event of an audit.
Understand Your Tax Expectations
Expiring tax provisions or changing regulations can complicate how you handle your business’s taxes if you do not have the right software. Before downloading a program, make sure that you:
- …are ready to report all of your income. A full-accounting suite of tools that includes electronic filing should keep you on track when it comes to reporting income sources. Gig work, investments, and part-time work can and should be recorded within the tax system that you purchase.
- …factor in any relevant employee life events. Having your own in-house web file for online tax filing makes it easier to update employee information as soon as something changes. Ask if any employees got married, added dependents, or moved before you e-file any forms.
Keep Track of Deadlines
Paying attention to deadlines and avoiding tax penalties is easier with an e-filer that can send your documents in just a few simple clicks. The best software will help you to:
- …provide accurate information on forms. Getting software will help you review whether the in-house accountant or employee has correctly input each identification number and other details. There is a proven less than 1% error rate for e-filed returns compared to a 21% error rate for paper returns.
- …avoid running into tax scams. There is always an associated risk of fraudulent tax preparers or schemes if you outsource accounting and payroll management. Eliminate these or other schemes with your own oversights and knowledge of who will handle the business’s data.
E-File Software Resources From AMS
Deciding whether or not the timing is right to get a desktop web file for online tax filing may take longer for some businesses. Finding an intuitive system reduces or removes many concerns of producing all of the required W-2 and 1099 files for the Internal Revenue Service or the Social Security Administration. Our 1099-etc E-Filer allows its users to create files with the program’s directory, as well as verify, view, and print files.
Our E-Filer also gives the option of using E-File Services. The fee-per-form software files your forms electronically through a third-party vendor. Each service level allows you to design your services to your own unique time and budgetary requirements. Get started by downloading a free 1099-etc Demo software today to learn more.