Article provided by: LeFils & Company, LLC
For many small business owners, tax preparation is an inconvenience they’ll gladly avoid if they had the chance. Between satisfying your customers, monitoring your employees, and keeping an eye on your suppliers, we can bet there’s more than enough business activities you’d rather focus on. However, the law is clear enough about the importance of preparing your taxes as and when due and preparing them accurately. If you do not have a solid background in tax laws, it would be best if you considered hiring a competent accounting firm for your tax preparation in Deland.
Do I have to file a business tax return?
Yes. You are likely to incur penalties and fines from the IRS if you do not file an income tax return for your business. It doesn’t matter whether you turned a profit or loss in the outgoing business year. The best you’ll get if you recorded a business less is a reduction in your personal tax or total income tax return.
Can I use software for tax preparation in Deland?
The answer depends on the kind of software you are looking at. Most of the tax preparation software around focus on personal tax returns. The top ones usually have versions that can take care of tax preparation for sole proprietorships and single-member LLCs. Most small business owners would need this version for tax preparation in Deland. Unfortunately, buying the software may not be cost-effective in the long run since tax preparation is a once a year event.
If you’re running a partnership or corporation, you would most likely need another version of software to prepare your business taxes. From our experience, hiring a reliable accounting firm for tax preparation is almost always better than any software you can lay your hands on. Experienced tax professionals are familiar with the ever-changing tax laws. And importantly, they know all the legal loopholes you can exploit to ensure you enjoy the maximum deductions obtainable.
Do I need a certified public accountant for tax preparation in Deland?
If you run a very small business, you may get away with using tax software or preparing your taxes yourself. As your business expands, however, you’re more likely to need a CPA for your tax preparation in Deland. Tax laws are like a maze, and there are so many points where you could make a wrong turn. Unfortunately, ignorance is not an excuse under the law, and a seemingly minor error could result in you huge fines and penalties.
Hiring a CPA for tax preparation in Deland is often the smart thing to do. You get the best tax advice, meticulous services, error-free filing, and maximal deductions. If you’re not in the habit of hiring one yet, you should consider contacting Le Fils and Company, LLC, for experienced CPAs in Deland.
Contact the experts for tax preparation in Deland
As a full-service accounting firm, we specialize in handling all aspects of business accounting and bookkeeping for small and medium-sized businesses. Our company has a track record of providing quality services at the most affordable prices, and we have experienced professionals that are adept at all things business accounting. Need help with tax preparation in Deland? Get in touch with us today, and we’ll be happy to see how we can help.