Accounting Firms Help Business Owners Beat the Heat of Tax Season

a stack of empty tax formsBetween running a business, being with family, and investing into various side projects, most entrepreneurs and business owners don’t have the time or resources to spare on the drudges of filing taxes. Every moment spent worrying about deductions and researching tax compliance laws steals valuable time and emotional energy from business owners (time and energy that they could spend going to their daughter’s dance recital or brainstorming a groundbreaking idea with coworkers). The administrative side of business, while necessary, can sometimes feel like a distraction for more vision oriented individuals. If you’re searching for local accounting firms, choose Clifford, Ross, Raudenbush & Cooper, LLC today!

Beat the Tax Season Heat

For this reason, roughly 37 percent of Americans prefer to work with a certified public accountant (CPA) while filing their taxes, and many business owners choose to invest in professional accounting firms. According to Entrepreneur Magazine, companies whose revenue is higher than one million per year or who employee over 20 people should be working with a professional accountant. To avoid bookkeeping mistakes, navigate through complex tax situations, and steer clear of fraud investigations. We suggest that companies begin working with an accounting firm long before they begin to feel the heat of tax season.

Three Ways Accounting Firms Help with Taxes

  1. Tax Advice: CPA’s are knowledgeable about new tax legislations and tax mitigation strategies. They help advise clients concerning tax obligations. Working with a certified accountant can help business owners organize matters in a way that legally minimizes the amount they must pay in taxes. This advice is invaluable for business owners who understand the value of every dollar earned and spent.
  2. Tax Preparation: While it is possible to hire an employee to work on tax preparation and other tax-related services throughout the year, it is far less expensive to work with a CPA firm. CPA firms help businesses organize their affairs and prepare for tax season in an efficient and effective manner without sacrificing personalization or attention to detail.
  3. Tax Filing: Accounting firms are able to prepare local, state, and federal tax returns on behalf of a company, ensuring that the organization is in line with IRS regulations and that everything is turned in by the assigned deadlines. Given that most business owners spend over 23 hours on filing taxes alone, CPA’s offer significant relief to companies during tax season.

Peace of Mind

One of the most significant ways that accounting firms help clients is by offering them peace of mind. By allowing CPA’s to take on the organization and filing of taxes, business owners free up space in their schedules and minds for the things that matter most to them. Rather than getting overwhelming this tax season, contact the team at Clifford, Ross, Raudenbush & Cooper, LLC to see how they can assist you.