{"id":131791,"date":"2025-03-14T00:17:08","date_gmt":"2025-03-14T00:17:08","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/real-estate\/5-ways-to-streamline-your-filing-process-this-tax-season\/"},"modified":"2025-03-14T00:17:08","modified_gmt":"2025-03-14T00:17:08","slug":"5-ways-to-streamline-your-filing-process-this-tax-season","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=131791","title":{"rendered":"5 Ways to Streamline Your Filing Process This Tax Season"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>\t\t\t\t\t\t\t\t<!-- Showing the last modified date and the author name --><\/p>\n<p style=\"margin-bottom: 0;\">Published on March 3rd, 2025<br \/>By <a href=\"https:\/\/www.appfolio.com\/blog\/author\/brittany-benzappfolio-com\/\" title=\"Posts by Brittany Benz\" rel=\"author\" itemprop=\"author\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/Person\">Brittany Benz<\/a><\/p>\n<p><span style=\"font-weight: 400;\">Property management is a complex business, which means filing taxes can be challenging. Add outdated processes or paper records into the mix and it can cost your business in the long run, too.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While many property management organizations dread tax season, filing doesn\u2019t have to be stressful when you have the right processes and technology solutions in place. As Steven Morgan, Group Product Manager at AppFolio, explains:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cEach year property managers must navigate tax season \u2014 re-familiarizing themselves with processes and addressing new requirements. Having the right technology can go a long way towards providing peace of mind that teams are adhering to requirements during annual tax season and can get their work done on time.\u201d<\/span><i><span style=\"font-weight: 400;\">\u00a0<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">In other words, using the right technology and having streamlined workflows in place <\/span><i><span style=\"font-weight: 400;\">before <\/span><\/i><span style=\"font-weight: 400;\">it\u2019s time to file is key. It can also reduce your liability in the event of an audit.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Keep reading for helpful ways to make this tax season easier than ever by improving processes and leveraging smart solutions. Please keep in mind that while this article contains helpful information, we aren\u2019t providing legal advice. Always consult a qualified tax attorney about filing taxes for your individual business.<\/span><\/p>\n<h3><b>Tax season tip #1: Consolidate and centralize your data<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Disconnected accounting systems and disparate data not only require a great deal of manual work to collect, but also leave room for human error. Instead, having everything in one system allows you to access accurate data quickly and efficiently, so you don\u2019t have to spend time hunting down files and manually re-checking information.<\/span><\/p>\n<h3><b>Tax season tip #2: Organize files for faster, easier processing<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">With a digital property management system, it\u2019s even easier to gather your critical files and backup documentation. That\u2019s because the right software can automatically store and update your files year-round, from important tax documents to vendor information, so you have everything at your fingertips when tax season arrives. As an added bonus, there\u2019s also no need to locate physical paperwork or decipher handwriting with a property management software.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, if you are still using a paper-based system, start gathering and organizing all tax filing documents as soon as possible. Be sure to allow more time than you think you may need to avoid a last-minute crunch.<\/span><\/p>\n<h3><b>Tax season tip #3: Use automation and analytics to spot anomalies<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Besides storing data in one place and keeping files organized, a comprehensive property management platform can help detect inconsistencies \u2014 like an incorrect ZIP code or an extra digit in a Social Security number \u2014 that could result in penalty fees or an unexpected audit. With customized reporting tools and built-in analytics, you can ensure your data is both accurate and complete.<\/span><\/p>\n<h3><b>Tax season tip #4: Keep 1099s in line<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Most property managers must issue and file 1099s by January 31, with owner 1099s due by February 28.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This process can easily fall through the cracks if you\u2019re not careful, but property management software can be a huge time-saver. The right software can even help you <\/span><a href=\"https:\/\/www.appfolio.com\/blog\/accounting-process-kpis\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">prepare 1099s<\/span><\/a><span style=\"font-weight: 400;\"> quickly and accurately, so you can file them with the IRS on time.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Want more ways to streamline your 1099s? Check out our article <\/span><a href=\"https:\/\/www.appfolio.com\/blog\/end-of-year-reporting-1099s\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">5 Tips to Prepare for End-of-Year Reporting and 1099s<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h3><b>Tax season tip #5: Free your team to focus on high-value work<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Managing tax season can be a time-consuming task that distracts from other essential business duties. Manually entering data can be tedious and lead to mistakes, rework, and potential filing penalties. However, with a great software system in place, your team can focus on higher-level options like staying up to date on the latest tax laws and researching potential deductions that could save your business additional money.<\/span><\/p>\n<h3><b>Get even more tax season tips<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Taxes are an inevitable part of owning a property management business. But when all of your data and documentation are quickly accessible, organized, and accurate, tax season becomes significantly easier and much less stressful.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These tips are just the start. Set yourself up for even more tax season success by downloading our accounting guide below. <\/span><span style=\"font-weight: 400;\">Here\u2019s to getting a great return!<\/span><\/p>\n<p><a href=\"https:\/\/www.appfolio.com\/rental-accounting-automation\/guide\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-14443\" src=\"https:\/\/blog.appfolio.com\/wp-content\/uploads\/2022\/12\/appfolio-automation-blogfooter-1140x380-1.png\" alt=\"accounting challenges guide\" width=\"1140\" height=\"380\" srcset=\"https:\/\/blog.appfolio.com\/wp-content\/uploads\/2022\/12\/appfolio-automation-blogfooter-1140x380-1.png 1140w, https:\/\/blog.appfolio.com\/wp-content\/uploads\/2022\/12\/appfolio-automation-blogfooter-1140x380-1-300x100.png 300w, https:\/\/blog.appfolio.com\/wp-content\/uploads\/2022\/12\/appfolio-automation-blogfooter-1140x380-1-1024x341.png 1024w, https:\/\/blog.appfolio.com\/wp-content\/uploads\/2022\/12\/appfolio-automation-blogfooter-1140x380-1-589x196.png 589w\" sizes=\"auto, (max-width: 1140px) 100vw, 1140px\"\/><\/a><\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Published on March 3rd, 2025By Brittany Benz Property management is a complex business, which means filing taxes can be challenging. Add outdated processes or paper records into the mix and it can cost your business in the long run, too.\u00a0 While many property management organizations dread tax season, filing doesn\u2019t have to be stressful when [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":131792,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[99],"tags":[13722,13306,1298,24382,7356,8023],"dealstore":[],"offerexpiration":[],"class_list":["post-131791","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-filing","tag-process","tag-season","tag-streamline","tag-tax","tag-ways"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>5 Ways to Streamline Your Filing Process This Tax Season - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=131791\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"5 Ways to Streamline Your Filing Process This Tax Season - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"Published on March 3rd, 2025By Brittany Benz Property management is a complex business, which means filing taxes can be challenging. 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