It’s tax season now, which is a year-round responsibility for all business owners. It’s a good time though if you’re a small business owner to invest into a small business tax expert to help your small business through tax season.
What Is a Tax Expert?
A tax expert is a person who has the experience and certificate to help your small business with taxes. He/she, as a tax expert, is not only a tax advisor but also a financial expert with well-trained in tax laws. Also, this person should be up to date on current tax regulations because those are changing all the time. Tax advisors are obligated to the IRS (Internal Revenue Services).
Let’s See What a Tax Expert Can Do
- Save your time during tax season.
- Know the change of laws.
- Having someone who can help, then to do other important things.
What Kind of People Can be Tax Experts?
- Tax Attorney
First of all, a tax attorney may be expensive, however, you should hire one if you have any tax problem. A tax attorney is lawyers with a special tax law degree or specialized certification. You should seek an attorney who are not only in personal taxes, but also business ones. Otherwise, a general lawyer is less likely to give you a better suggestion regarding business taxes. As a small business owner, it is important to prevent taxes problems.
- Enrolled Agent (EA)
An enrolled agent has the license admitted by the IRS. The EA has to pass a difficult test or has at least five years of experience working for the IRS. EAs are tax experts with qualification to prepare taxes and represent taxpayers when you need them before the IRS come.
- Certificated Public Accountant (CPA)
A certificated public accountant is licensed and regulated by each different state. They need to pass three level of exams to get qualified and then start to work for the company. They handle complicated accounting and business-related tax work to help your tax returns. For small businesses, a small tax expert firm may suitable for you because it is cheaper and better for typical issues.
If you find a tax expert, you will get benefits from many aspects.
- Knowledge and Suggestions.
Your tax expert should have the ability to assist you to make a final decision and provide you the basic information. An experienced tax expert can provide much strategic advice and insight about the pros and cons of your small business. From analyzing and determining the best business structure, tax experts have reliable abilities to get through.
- Well-Preparation of Taxes.
Small businesses can take the advantage of having a tax expert to filling tax forms. If you decide to do it on your own, the risk will be there because you cannot 100% make sure all of the answers are correct or not. Moreover, a tax expert will advise you on the best ways on the different situation of taxes.
- Representation of Face to the IRS.
Whether a tax attorney, an enrolled agent or a CPA, they all can represent you in front of the IRS. Don’t worry about it. A tax expert knows how to handle the IRS bureaucracy. If you are dealing with the IRS by