Everything about accounting can be complicated if you are not a trained accountant. This is especially true when it comes to taxes. The government isn’t known for making things easy, and when you ar dealing with taxes you aren’t just dealing with one government – you’re dealing with state, local, and federal governments. That’s a lot of paperwork, and a lot of potential for error that you can’t afford.
That’s why small business owners, no matter how small your business, should trust their taxes to a professional. Even if it is just you, the owner, and one other employee, there is plenty of room for error. Never mind the fact that taxes can be extremely time consuming, and if there is one thing small business owners never have enough of it is time. Small business owners can take some of the burden of doing taxes off of themselves by finding a service that can do their payroll throughout the year, and is then well-acquainted with the business and well-prepared to do the taxes. The Small Business Administration lists payroll tax compliance among one of the most common mistakes small business owners make with their taxes. Clearly it is important to have a trusted professional you can call on to make sure your business is not hit with fines, or even just time-consuming questions about your payroll.
A professional will also know what to look for to both help you avoid mistakes that might send the IRS knocking, but also can help you maximize any deductions or credits in order to ensure you are paying only what you owe, and not a penny more. The Small Business Administration reports that many small businesses miss deductions that could help ease their tax burden. Among them are small expenses such as magazines that you lay out in your waiting room and educational or professional development classes for you and your employees.
If you are doing business in Quincy, MA, you should find a Tax Consultant in Quincy MA. A local tax service can become quickly familiar with your business, be easily available for your needs, and will know the state and local tax codes, too. If you are looking for a Tax Consultant in Quincy MA, visit Daileytaxandinsurance.com or their Facebook page.
