However, finding tools to help you calculate and understand the numbers you're crunching doesn't have to be a chore.
Many sole proprietor entrepreneurs dread tax time -- having to comb through their income and expenses and fill out complicated forms.
It can seem daunting, especially if you've not consistently kept up with tracking your income and expenses all year. Back tracking to locate necessary information tends to be a major source of frustration.
My advice is, start gathering all that information now. Break your tax preparation goal up into smaller chunks so it doesn't seem so overwhelming.
Here's how I would suggest going about it. Take the next 2 weeks (perhaps a small chunk of time each day) to gather all of last year's income and expense information. Get it all in one place so you can easily reference it.
In the next week or so after that, use the H&R Block calculator 2015 to help yourself understand and estimate what your tax refund will likely be.
Understanding what your tax refund will likely be can help you determine how to file your taxes, and/or it may spark questions that you want to education yourself about with online resources or by talking to a tax professional.
The bottom line is that it's important to be aware and diligent about your tax preparation and eventually filing your annual taxes.
However, if you break it down into smaller tasks, and utilize tools that make tax calculation easy, the entire process won't be such a source of anxiety.
posted by Nick Venturella