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A recent Wall Street Journal article says that many small business owners are cutting costs by doing tax returns themselves. WSJ suggests investing in professional tax preparation, and we have to agree. Aside from the considerable amount of time it takes, the complexities of the tax code practically guarantee that - no matter how thorough they try to be - business owners could easily end up overpaying their taxes.
Business owners - especially those just starting out - typically know little more about the tax code than anyone else. That might be okay for simple, individual tax returns. But, returns for businesses are far more complex. Business owners have no idea what money they may leaving on the table by not knowing the credits and deductions, or not understanding the qualifications and restrictions that must be met if deductions and credits are claimed.
Tax specialists can identify all the tax breaks a business is eligible to receive. Because they understand the qualifications and restrictions, they can assure legal compliance while minimizing tax liability. But, more than that, they can help business establish a strategic, proactive approach to taxes, providing long term benefits.
Accounting World CPA & Consulting, PLC is exactly the kind of professional tax preparer that can help a business keep more of its earnings and establish strategies for the future. We call it the Accounting World Advantage, and we invite you to call to find out what we can do for you.
Tax Preparation, Tax Planning and Accounting Services for Phoenix, Scottsdale & Surrounding Areas