Taxes are one of the most confusing, frustrating aspects of owning a business, especially for new entrepreneurs who aren’t familiar with the code. However, the constantly changing tax code makes it difficult for even established business owners to ensure they get every deduction and credit they deserve. An experienced tax consultant can take the uncertainty out of preparing your returns and could save your business thousands of dollars in the long run.

What Do Tax Consultants Do?

Unlike tax preparers, who mostly fill out and submit returns, consultants have an in-depth understanding of the code, allowing them to offer detailed advice in a variety of situations. When preparing your returns, a tax consultant will carefully examine your business’s finances to identify deductions and tax breaks you might have overlooked. By eliminating some of the most common mistakes, a consultant could save you thousands of dollars in IRS penalties and fines.

Tax consultants also help businesses develop year-round strategies designed to minimize your liability as much as possible. For instance, they may recommend waiting to make a significant capital investment or selling off a depreciated asset sooner rather than later to maximize deductions and credits.

Do I Need a Tax Consultant?

Every business owner benefits from the services of an experienced tax consultant. Not only will they take the guesswork out of calculating your taxes, but they could also save you money that you can reinvest back into your business.

Most importantly, having your consultant handle your taxes and paperwork lets you relax and focus on why you went into business in the first place. If problems with the IRS do arise, your accountant can represent your interests and help work out a favorable resolution.

For over 25 years, the tax consultants at Dianne M. Saunders, CPA have provided detailed guidance and personal services to business owners throughout Litchfield, CT. Whether you’re just getting your business off the ground or have been operating successfully for years, their team will take the burden of tax calculation and planning off your shoulders. Visit their website to learn how they can help with your business taxes or call (860) 567-3022 to make your first appointment.