Your primary role is to run the ins and outs of your business, ensuring you can provide for you and your family. You experience the challenges and rewards that having a business can offer. Yet on top of everything, no matter what your business is, you must be thinking about your taxes all-year round.
Perhaps you will have record-breaking profits! Did you remember to make your estimated payments each quarter? Did you think you would be at a loss and are surprised by a large tax bill at the end of the year? You may even receive a penalty for not making timely estimated payments. This is a common problem facing Sole Proprietors. Other issues include paying self-employment tax as well as being a higher risk for audit.
The important thing to know that there are solutions; this does not have to be a death sentence for your business. The tax bills will not go away until you act. You can establish payment options or even fight to reduce your tax liability by taking advantage of the IRS’s “Fresh Start Initiative”. Equally as important, you need to establish steps to protect yourself in the future. How can you be safe from audit? How can you avoid a surprise tax bill?
No matter the type of business or the amount of tax due, we can help you and your business make a road map to relief! Take advantage of our free consultations and call our office at (855) TAX-FIXS. Continue checking our website for tax announcements and helpful tips!