Take Steps to Support Your Business and Customers

Business Continuity, Financial Tips 072720_IAA_FINANCIAL_TIPS-SOCIAL_COVERS-BLOG-FF

This post can be found en Español here.

At Intuit, proud maker of TurboTax, QuickBooks, and Mint, we believe that everyone deserves the opportunity to prosper. We’re dedicated to providing the tools, skills, and insights that empower people around the world to take control of their financial lives.

The world changed overnight, and with it, so did our daily lives. Watching, waiting, and perhaps wondering what the future might hold. We know there are tough choices you need to make today. Intuit has tools to help guide you—wherever you are right now—until you can get to where you need to be.

Building a Business Continuity Plan

We know small business owners have a lot on their minds right now, but there are ways to move forward. We’ve stood behind small businesses for decades, and are here to help you take steps to ensure your business’s future as you look to build out a business and supply continuity plan – which means determining a management process that will help your business respond to difficult challenges and stay afloat for the short and long term.

To get started, take a step back and define the problems and obstacles your business is facing. There are experts all around you (virtually, of course) that can guide you, and resources from advisors at TurboTax and QuickBooks to help along the way.

It’s not too late to begin building for the future – check out more information in this step-by-step guide.

Ensuring a Supply Continuity Plan

Supply continuity is critical for building your products and delivering your services. A supply continuity plan details how you expect to source goods and materials when your usual supplier isn’t an option. It should also include how you intend to communicate your supply disruption and mitigate the impact on your revenue. Follow these steps to develop a supply continuity plan and help keep your business running.

  1. Identify how a supply disruption will impact operations and revenue
  2. Consider sourcing goods from alternate suppliers
  3. Collaborate with other local businesses
  4. Communicate, communicate, communicate

The best time to plan was yesterday. The next best time is now. Use this plan to strengthen your business.

Guide for Restaurant Owners

Restaurant owners and other small businesses are directly impacted by measures for safety like social distancing. While you’re exploring the best ways to make virtual experiences for customers, use this guide to help inform key areas of focus like cash flow, financing options, alternative sources of revenue, and more.

Don’t Forget About Taxes if You’re Self-Employed

In response to coronavirus, the Treasury, IRS and federal government has announced several changes to the tax filing season, coronavirus relief, and stimulus packages. We’ve got you covered with a summary of some important things to keep in mind if you’re self-employed or own a small business.

Also, don’t forget about the estimated tax deadline. The first and second quarterly estimated tax payment deadlines for the 2020 tax year have both been extended to July 15, 2020. We’ve got the info you need to know

Don’t worry about remembering all of the information in there. TurboTax Self-Employed and QuickBooks Self-Employed have you covered and will help you uncover business expenses to help you save on your taxes. Visit aidassist.intuit.com to assess your potential eligibility for federal relief loan programs.

Get more financial guidance at intuit.com/financial-tips.