I still can’t believe it’s December already. This year flew by! Before we know it, it’ll be April 15th! Get your taxes done early so you can enjoy the spring weather! Use QuickBooks reports to prepare your income tax information for your business, even if you are running a property management company.
The Income Tax Preparation report helps you prepare your federal income tax by showing each tax line assigned to each account. As a note, consult with your accountant to assign the appropriate tax lines when setting up your Chart of Accounts.
The Income Tax Summary also helps you gather the data for your forms. It shows the amount QuickBooks tracked for each tax line associated with specific accounts.
The Income Tax Detail lists each transaction associated with each tax line, expanding on the previous report.
Double-click any of the amounts or transactions to view additional details.