Why You Might Need Professional Tax Help This Year – Part One

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Why You Might Need Professional Tax Help This
Year Part One
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• Tax filing for business owners is rarely a simple
  or speedy process, and with things set to get
  even more complicated this year, choosing to seek
  professional help from a tax expert, could be a
  very wise decision, and heres why
• The IRS may not give you the help you need
• With widespread budget cuts throughout the IRS,
  employee numbers have been slashed, and if you
  have a tax-related query, you might find that you
  dont get a timely response. However, with a tax
  professional at your disposal, your questions
  would be answered promptly and accurately,
  ensuring that youre able to meet any penalty
  dependent deadlines.

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• Your personal tax queries may interfere with your
  business taxes
• Confusion over recent changes to taxes such as
  the slight increase in heath savings account
  (HAS) contributions, could mean that if youre
  not familiar with them, you could end up wasting
  valuable time on your individual or family taxes,
  when you should be focusing on your business
  taxes. With professional assistance, all
  confusion is eliminated as tax experts make
  themselves aware of changes to taxes and the laws
  surrounding them, as soon as they happen, and the
  risk of falling behind on any deadliness, is then
  consequentially reduced.

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• Technology thats way behind the times
• When you think about the size of the IRS and the
  responsibility it holds, you might imagine that
  it employs cutting edge technology and the latest
  innovations. However, this is far from the
  reality, and problems with an outdated tech
  system can quickly lead to delayed refunds,
  security breaches or difficulty processing
  returns, and with the current health crisis
  leaving the tax world in disarray, things will
  only get worse. Most tax professionals have
  access to top of the range software and tech
  solutions, meaning that even if the IRS fall
  behind on their processes, it wont be through
  any fault of yours and youll not be held
  responsible.

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• More Americans are entering the small business
  world, but are they prepared?
• The pandemic has forced many Americans to
  diversify and try to come up with new ways to
  make money, and while going it alone as a
  business owner for the first time, may be
  daunting, few realise just how easy it can be to
  make mistakes, not keep accurate records and file
  late, any of which can incur an IRS audit. The
  line between business and personal expenses can
  also become blurred, and if youre not familiar
  with what can and cannot be deducted, you again,
  run the risk of being selected for an audit. If
  you engage with a tax professional from the
  outset, however, the risk of you making any
  costly errors is greatly reduced, and they will
  help you to stay on the right side of the IRS.

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• Tax professionals have always existed to help
  small business owners get a handle on their taxes
  and prevent them from making costly errors, but
  with the current climate of fear and uncertainty
  in the economy as a whole, a tax pro could become
  your most powerful ally.
• At Heyer Associates, we proactively assist our
  individual and small business clients in meeting
  their goals. Our key area of focus is ensuring
  that our clients remain compliant with federal
  and state tax laws by providing them with high
  quality accounting and tax service Coral Gables.
  If you are looking for individual tax preparation
  in Miami, Heyer Associates would be a right
  option.