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Married real estate gurus and serial entrepreneurs Egypt Sherrod and Mike Jackson have teamed up with TurboTax Business Tax to help small business owners prepare for the Sept. 15 tax filing extension.
Managing taxes is a top priority for small business owners, but the process can often be complex and time-consuming. With the Sept. 15 deadline approaching, Egypt and Mike are reminding small business owners and solopreneurs that TurboTax Business offers easy access to unlimited live experts to help get their taxes filed.
While the process may feel “frustrating” at times, Egypt says, it’s also “rewarding” when you consider the satisfaction of persevering, working for yourself, and supporting the livelihoods of employees if you have a team on payroll.
“Because even though as an entrepreneur you will never have worked harder in your life, at the very least you know that you’re doing it for yourself,” Sherrod tells BLACK ENTERPRISE. “That’s the mantra Mike and I often remind ourselves of, even on the hard days, it’s still worthwhile.”
Balancing taxes alongside running a business can be overwhelming, and Egypt and Mike experienced the same challenge firsthand. Between managing their household, guiding clients through building, renovating, and buying homes, and operating multiple businesses, keeping up with taxes and receipts became a chore.
That is, until the Married to Real Estate stars began tapping into the built-in resources TurboTax offers business owners.
“Some of the tools that we have found to simplify our lives and our businesses have been with TurboTax,” Sherrod said. “For many years, we would sit at our kitchen table and just have receipts sprawled out all over the table, categorizing what goes where. Then, of course, we got wise to put it on individual credit cards for each business, but even that is not a simplification.”
Sherrod continued. “Once we put all of our businesses on QuickBooks, it was a dream come true because we could see the financials, we could see the expenditures, projections, everything was well organized. But they also had virtual tax experts that we could see and talk to, or we could hire out the bookkeeping service for them to help keep us organized year-round, 24/7. That was the real difference maker, it like freed up a whole two positions for it in our company.”
As a hands-on contractor, Jackson found great use of TurboTax’s built-in integrations with other business platforms, such as Mailchimp, and for file sharing with clients and vendors.
“What’s great about it as well is that the integration of it all allows the communication process to flow seamlessly between the tax expert and us or any other clients we may have because of the integration with Mailchimp,” Jackson said. “And also, you can file whatever you need to file and send it right through there without having to have several different apps.”
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