Smiling small business owner taking payment

Taxes Burden Small Business Owners

If you’re a small business owner I’m sure you had a distinct business plan when you started your business. Even if it was only in your head. The problem is you didn’t develop a tax plan to accommodate it.

With taxes being one of the biggest expenses for small businesses not having a tax strategy in place continues to cost owners thousands of tax dollars that could otherwise be used to buy equipment, expand operations, or even take that long overdue vacation. Unfortunately, most tax preparers spend very little time, if any helping their clients avoid paying taxes. Every tax season it’s the same routine, you send over tax forms (1099’s, etc.), receipts, and any other relevant documentation just to receive in return a reconciliation of that year’s revenues, expenses, and taxes due. Though this process is a very necessary one, it does absolutely nothing to help you save tax dollars. When was the last time your tax professional said to you, “I have a way for you to save thousands in taxes”? Even worse, some tax preparers on the web would have you believe that filing your taxes and maximizing your tax credits and deductions is as simple as pressing a button. This is ridiculous when you consider that between tax laws, regulations, tax law changes and tax court case clarifications the code is approximated to span around 70,000 pages. It’s impossible, without careful review to know if your tax benefits are being maximized. Do yourself a favor. Spend the money to hire a tax professional who is qualified to provide you with a comprehensive tax plan.

Why? Because time is money and every second a tax pro spends figuring out tables and trying to translate the “lawyer-language” in tax forms, and applying regulations and codes to your specific tax situation could save you thousands in unnecessary tax liability. Not to mention the peace of mind you get from knowing that you have truly maximized your credits and deductions. Don’t let the complexity of tax laws, sales hype from preparers, and simply a lack of time to properly analyze and research your tax situation continue to cost you thousands.

Retired Chief Justice William H. Rehnquist, “There is nothing wrong with a strategy to avoid the payment of taxes. The Internal Revenue Code doesn’t prevent that.” Smart man. Please take his advice. Get your comprehensive tax plan today.

For a tax planning consultation please contact Advantage Tax Services, Inc. @ 404-736-6084. You will be assigned to a licensed tax professional qualified to assist you with your tax needs.

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