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Apr 11, 2017

Ready Or Not, Tax Time Is Here


We know that things are particularly busy right now, because we’re in the middle of tax season. The Individual Income Tax Return deadline is only days away on April 18th, so things can be stressful with an approaching deadline. However, your tax time doesn’t have to be frustrating when you have UnitWise to help.

UnitWise


UnitWise is the complete business management solution specifically designed for those in the beauty consultant industry, like yourself, in order to help you save time while managing every aspect of your business. UnitWise includes access to tons of innovative features for inventory tracking, accounting, consultant management, tax reporting, and more.

Tax Reporting With UnitWise

UnitWise keeps track of everything you need for financial reporting and inventory totals. For example, your inventory is automatically updated every time a sale is made and an invoice or receipt  is created. Also, all of your profit, loss, and billing information is tracked so that UnitWise can give you accurate reports about your finances.  

Simply click Dashboard then reports to get started. From the side menu you can click Year-End/Tax to view a variety of tax related reports that you can run from any date range to see that tax totals that you need. For example, you can see your Profit and Loss Details, Non-Recovered Sales Tax, Inventory cost, Summary of Expenses, and more.

To run a report click the report name and click the time period. The time periods include Year to Date, Previous Year To Date, Calendar Year, Previous Calendar Year, or your own custom dates. Once you have your time range selected click ‘Run Report’ to view your totals. Your reports can then easily be saved, printed, or emailed. This way you can instantly send your tax reports to your tax preparer.

If you need more time to prepare your tax information, despite having these convenient reports, don’t worry. You can simply e-file for a 6-month extension to file your Income Tax Return with our sister company, ExpressExtension.

E-Filing an Extension


It only takes a few minutes to get 6 extra months to file by simply heading to IRS authorized ExpressExtension to e-file IRS Form 4868.

Personal Tax Extension Form 4868 is the form used by individual and joint taxpayers to apply for an additional 6-months to file their income tax returns. Form 4868 provides extensions on forms 1040, 1040A, 1040-EZ, 1040NR, 1040NR-EZ, 1040-PR, and 1040-SS.

IRS Form 4868 also provides extensions for Single Member LLCs, 1099 Contractors, and Schedule C Sole Proprietors.

Note: Form 4868 doesn’t extend the payment deadline for your taxes. Any amount owed to the IRS must be paid in full by the original tax deadline.

The e-filing process is super quick and easy. ExpressExtension provides step-by-step instructions to help you correctly complete your form in a matter of minutes. Then you will be able to relax knowing that you have 6 extra months to file your return.

We’re Here To Help


The heroes at UnitWise are here to assist you. Please don’t hesitate to contact us with any questions that you may have regarding tax reports or personal tax extensions. We’re available over the phone Monday - Friday 9 AM to 6 PM EST at 704.234.6006. We also offer 24/7 email support at support@unitwise.com.

*Content found in the UnitWise blog is for informational purposes only. UnitWise is an independent business with no affiliation to Mary Kay®.

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