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Tax Time Is Around the Corner

By on January 15, 2013 in Expense with 0 Comments

business expenses and taxesMost companies begin their fiscal year with the calendar year, and if this is your business, you want to be sure that you evaluate the way that you keep track of business expenses, both small and large. While 2012 is behind you, 2013 is wide open for making changes in business expense management. Whether you choose a new application for keeping track of travel & entertainment expenses, as well as other costs, or you simply want to make changes to spend less money as a whole, this is a good time for evaluation.

To begin the process, you will need to evaluate what was spent in 2012. This may not be a process that can be done overnight, depending upon your business, but it is the only way to start the process of determining which steps that you need to take next.

Once you have a handle on what was spent last year in each category of expenses, you are ready to see where you can spend less or where more management needs to be focuses. Travel & entertainment expenses make up a huge percentage of most business costs, and it may be a good idea to begin in this area and then work from there.

The number of business expense solutions, as far as management, are many these days, and, as with anything, there are good and bad choices. The key is to do your research to find the software or application that will work best for you, your business, and your employees.

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