Preparing to file your small business tax return

It's tax season, and just like everybody else, small business owners must file their tax returns ahead of the April 17 deadline.

If you're planning to outsource your taxes to a certified public accountant (CPA), it's imperative you make an appointment as quickly as possible, The Associated Press advises. Quality CPAs' schedules fill up quickly, and you want to give them as much time as you can to familiarize themselves with your company before April 17 arrives.

For those planning on filing by themselves, don't wait until the last minute. Grappling with tax prep software can be tricky at the best of times, but at the eleventh hour everything is likely to seem more stressful because of the impending deadline.

Regardless of the route you take, it's important to keep your records in good shape. These include checks, receipts and invoices for everything from utilities payments to business marketing expenditures.

According to author Rhonda Abrams, writing for USA Today, supporting documents for business expenses should be kept for at least five years