Tips to make filing easier

1. Consider fringe benefits for employees. How you pay people has a big effect on your taxable earnings. Bonuses and wages are going to be taxed, but health insurance and other benefit programs allow you to essentially pay employees without getting dinged by the IRS. It will depend on the type of work and who you employ, but you can consider things like disability insurance, education assistance, transportation benefits, dependent care assistance and a handful of other programs that ease your tax burden while still ensuring your workers can make ends meet.

2. Start earlier. There's no trick better than effective planning. If you can start getting your books in order in December of the taxable year, you can take big steps toward reducing your liability. For one thing, you can push invoices into the next year if it looks like you exceeded earnings expectations. You'll have to account for that money the next time around, but at least you'll know about that heading into the new year. You can also make last-minute donations and purchases to increase your write-offs. It's really easy to put off filing until March or April since tax preparation is such a pain in the neck, but starting early almost always leads to a smaller payment when all is said and done.

3. Donate mindfully. Charitable donations are a great way to reduce the amount you owe, and donating to causes that align with your mission statement can do more for your company than you might expect. You can take some money off the books and reduce your liability while also motivating local customers to use your consulting firm and driving up your returns. For someone overpaying on taxes, the right donation can make a huge difference.