If you want to breeze through tax time without a care in the world as a small business owner, you need to have your accounting and tax documents managed by a CPA. The CPA doesn’t just work to prepare statements at the end of the year, they are filing and preparing all year long. They help you make financial decisions throughout the fiscal year that are going to help you pay as little as possible to Uncle Sam.
The accountant will know what purchases are deductible when you file, without allowing you to go overboard with receipts and write-offs which can draw unwanted attention by the IRS. The CPA attends yearly conferences and receives the changes that will be implemented for that tax year, so they are always up to date with tax information. This is all knowledge that you may not have time to learn, and time you don’t have to spend. You can find a CPA that will manage your finances and taxes wisely.
If your business doesn’t pay the right amount of taxes to the city, state, and federal departments throughout the year, you will have a mess when it’s time to file. The CPA makes sure that you are paying out to the right places all year long, so you don’t owe large unexpected amounts of money when you file. Doing your own taxes and making mistakes can be costly, and unintentional mistakes can put you at the risk of tax fraud.
If you are audited you will have to hire a tax attorney that specializes in small business cases, and the IRS could force you to close your doors during the investigation. The CPA can submit error free financial statements to reduce your chances of an audit, and to save you headaches and stress. Find a CPA with lots of small business experience for the best results.
Don’t risk dealing with tax dilemmas or a financial crisis because of poor financial management. If you aren’t great with numbers, you don’t have enough time to dedicate to your company accounting and taxes, and you worry about taxes all year long, it’s time to find a CPA at Goodaccountants.com.