Tax compliance is a worry for every business. It seems like every time you turn around, tax laws are being added to, altered, or eliminated. The stress can be overwhelming, particularly at tax time when mailing out 1099s, separating personal and business expenses, and locating deduction receipts are par for the course. Hiring a CPA firm to keep your business tax law compliant is a time and money-saving investment in your business’s success and financial strength.
Federal taxes aren’t all a company pays, of course. There’s also payroll, excise, state corporate income, sales, self-employment, and property taxes. In other words, “tax season” is a year-round affair where fines and penalties for delayed payments, errors, or missed payments can be steep.
CPA Firms & Their Benefits
While some businesses can manage their taxes without the help of an accountant or CPA, most could benefit from hiring a CPA with tax expertise. If you’re still deciding whether to handle your business’s taxes internally or outsource the work to a local CPA firm, these benefits of outsourcing can help you decide.
- Mitigates errors. Many on and offline guides are available on how to file business taxes. Unfortunately, quite a few of them are outdated or non-factual. Most business owners are not tax experts and don’t have the time or inclination to stay current with tax-related laws. A qualified CPA is up to date with all existing tax requirements and can mitigate the risks that come with filing taxes on your own.
- Year-round availability. At Gurian CPA Firm, we believe proactively addressing tax issues and strategies throughout the year is essential to tax compliance. Routinely consulting with your CPA on viable strategic paths allows you to make the best decisions for your business’s stability and growth.
- Maximizing deductions. Without thorough insight into tax codes, identifying all your business’s tax deductions is a challenge. CPAs have the skills and knowledge to identify and maximize all legal tax deductions, reducing your tax burden and letting you keep as much of your profits as possible.
- Reporting and regulatory compliance. Fully licensed CPAs help business owners adhere to government regulations and meet reporting requirements. They also ensure critical deadlines are met and can be a trusted representative during an IRS audit.
How Gurian Can Help
The benefits of hiring a CPA for your business go far beyond tax considerations and can include everything from advising on financial moves to pinpointing which financial strategies are contributing the most to your bottom line. That makes it crucial to choose a CPA wisely.
Gurian CPA Firm has years of experience guiding clients through a full range of tax planning and preparation decisions. We can help you develop strategies to minimize tax liabilities and maximize your savings and compliance. And we have all the necessary tools and skills to prepare virtually any tax return, including:
- Individual Income Tax (1040)
- Partnership Income Tax (1065)
- Non-profit (990)
- S-Corporation Income Tax (1120-S)
- C-Corporation Income Tax (1120)
- Estate Income Tax (1040)
- Sales Tax (Texas)
- Mixed Beverage Tax (Texas)
When you put your trust in our firm, you also get to enjoy the added benefit of being able to spend your time growing your business, not worrying about tax deadlines and paperwork.
To learn more about how a CPA firm can help your business stay compliant with tax laws and more, contact us online or call 469-374-3150 to arrange a meeting.
