Tax laws are complicated, and the tax code is constantly changing. Suffice to say, small business owners can benefit greatly from working with a professional. Hiring an accountant is good, but working with a full-service CPA firm is a lot better. Below are just a few of the reasons you should hire one.
They can help you maximize your deductions
Are you 100% sure you’ve done everything you can to minimize your business’ tax liability? Working with a CPA can help guarantee you’re not leaving money on the table. Not only will your CPA evaluate your current situation, they can provide guidance about how to minimize your taxes, help you take advantage of every tax credit you’re entitled to, and ensure you use every allowable deduction to reduce what you’ll owe to the IRS.
They’ll represent you if you get audited
No one likes to think their business could be audited by the IRS. Getting an audit notice is not only stressful, preparing for it can take an enormous amount of time. Suffice to say, it’s best to have a qualified, experienced professional on your side. If you hire a CPA to help prepare your business taxes, they can represent you before the IRS if needed. Additionally, they’ll respond (on your behalf) to requests for information, records, and other relevant materials. Not only will this ensure you have the best possible representation, it will allow you to focus on what you do best— running your business.
They’ll ensure your taxes are filed correctly
Business owners who prepare their own taxes often make mistakes. In some cases, these mistakes can lead to an audit, whereas in others, mistakes can cost them thousands (if not tens of thousands) in tax liability. Hiring a CPA firm will give you the peace of mind that comes with knowing your taxes will be filed right and on time. It will also help ensure you’re taking every allowable deduction that you’re permitted to take.
Tax season is just around the corner. For more information about the benefits of hiring a CPA firm, or to learn more about how working with a CPA can help minimize your tax liability, we can help. Call Hughes, Snell & Co., PA today to schedule a free, no-cost consultation. What are you waiting for? Call Hughes, Snell, & Co., PA today to speak with a licensed expert.