Between managing a team, marketing, sales, strategy, and daily operations small business owners wear a lot of hats. One area that the SMB should consider outsourcing first, however, is tax preparation. Hiring tax services for a small business is a smart move that can translate into better business profitability and a lot less headache, explains Greg Menia, CPA and founder of Accurate Tax & Bookkeeping Services, a full-service tax, accounting, and consulting firm located in Brandon and offering services to businesses and individuals throughout the Tampa Bay area.
What is a Tax Preparation Service?
More than a tax advisor, a tax professional is someone with in-depth tax knowledge, advanced credentials, and industry experience to assist a small business with tax services. Most tax preparation services include preparing, filing, or assisting with business tax forms. Beyond these basic services, a tax preparer with appropriate credentials can also defend a taxpayer with the IRS. This includes audits and tax court issues.
Advantages of Hiring a Tax Preparation Service
For small businesses, hiring a tax professional provides many benefits, not just during tax time. Here are a few of the most important advantages to small businesses.
- Having business taxes done by a professional helps business owners avoid costly mistakes.
- Tax professionals can answer questions about difficult-to-understand tax codes and help resolve tax issues.
- Tax professionals can provide tax planning services and advise business owners of smart money moves to make throughout the year.
- Tax professionals can help provide long-range strategies for reducing their taxes.
- Utilizing a tax preparation service frees up the business owner’s time to focus on core duties and revenue-generating activities.
- Tax Services for small businesses can review past tax returns to ensure they were filed accurately.
- Using a tax professional helps reduce the risk of an audit. If the business is audited, the tax professional may be able to represent the client.
How to Find Tax Services for Small Businesses in Brandon
Not all tax preparers are created equal, and not every tax preparation service is the perfect fit for every business. The key to finding a good fit is asking a lot of the right questions.
- Do you have a PTIN (preparer tax identification number)? Anyone who prepares federal tax returns for compensation must have a valid PTIN to legally be able to prepare taxes.
- What are your qualifications? There is a wide range of people that can prepare taxes, but that doesn’t necessarily make them a good fit for your business.
- Do you have experience in my industry?
- Who will be the person preparing my taxes?
- What additional services do you provide?
- What are your fees?
- Who will sign my return? A preparer without a PTIN will not sign the paperwork, and this is a sign you should keep looking.
- Do you offer electronic filing?
- Are you available for questions even outside of tax season?
- What happens if I get audited? Can you represent me?
A tax professional can help by preparing taxes, but the right service can help all year with services such as tax planning, bookkeeping, accounting, and consulting. By asking comprehensive questions, the small business owner can identify an experienced professional.
Accurate Tax & Bookkeeping Services
Accurate Tax & Bookkeeping Services, LLC (ATBS) is a full-service tax, accounting, and consulting firm located in Brandon, offering services to businesses and individuals throughout the Tampa Bay area. Areas of expertise include tax preparation and planning, accounting and bookkeeping, payroll, and representation in IRS/State matters. For more information about bookkeeping or other services, call (813) 655-9702.
Accurate Tax & Bookkeeping Services
710 Oakfield Dr.
Brandon, FL 33511