Tax Profesional
Why you need a tax professional[editar]
What?! You don't have a tax professional you trust to help you with your business taxes? It's never too late to start looking. Having a good tax advisor for your Small Business Tax can mean:
Saving money at tax time[editar]
Not having to pull out the records and do it yourself (and that's about as painful as going to the dentist!) and, Having someone who can help if you get audited. What is a tax professional A tax advisor is a financial expert with training in tax laws. A tax professional should be up to date on current tax regulations, which change every year. Tax advisors are regulated by the IRS, which also determines the types of professionals who may practice before the IRS.
Included in this list are attorneys, CPAs, Enrolled Agents, and other registered tax return preparers.
What does a tax professional do?[editar]
A tax professionals can help you with your business taxes - before, during, and after tax preparation:
Before Tax Preparation: A professional tax advisor can give you advice on tax planning, but tax planning isn't done just before the end of the year; it continues throughout the year.
You should be talking to your tax pro at strategic points during the year - every quarter, at a minimum - to discuss strategies for minimizing your taxes (legitimately, of course - avoiding, not evading).
During Tax Preparation: Your tax professional most probably will also be your tax preparer, doing the work of preparing your business tax return and your personal tax return. If you pay business taxes through your personal tax return, the same person should be doing both returns so you can coordinate tax savings. For example, a loss on your small business taxes (through Schedule C) can be applied to your personal tax bill to lower your overall taxes. And lower business income means lower self-employment taxes, which you must pay personally along with income taxes.
After Tax Preparation: When your tax return is filed, there may still be work for your tax professional to do if you get audited. It makes sense to have your tax preparer be the person you turn to for help if you get a letter from the IRS saying you are being audited. This person should have the standing to be able to represent you before the IRS during an audit. IRS-regulated tax professionals (attorneys, CPAs, Enrolled Agents, and other registered tax preparers) can go with you to an IRS audit or represent you at the audit.
