The Benefits Of Hiring A Tax Preparer
As a business owner, you've probably seen or heard this word floating around as you learn more about all the responsibilities and duties of being an entrepreneur. You've also probably wondered: What exactly is a tax preparer and how do they benefit businesses?
So let's explore these questions and see what would best suit your business.
What Exactly Is A Tax Preparer?
A tax preparer is the person who puts your information on the tax forms. They handle your income taxes, your payroll taxes, and other tasks that you would relate to an accountant. To get a clear scope of what they do, here is a list of their primary responsibilities and duties:
They collect the records that you will need during the tax process
They use their knowledge of federal, state, and local laws to determine deductions, refunds, and payments
They create tax strategies for you
They act as representatives for your business in front of the IRS
They answer any of your tax-related questions
How Do They Benefit Businesses?
For one, they relieve business owners of a lot of stress. Running a company isn't easy: you have to worry about the finances, the marketing, the goals, the clients and customers, and other operations. Preparing your taxes yourself can be a huge burden, so having someone else do them for you can be a real relief. You will be able to focus on other things (like relaxing), while also feeling secure in the knowledge that the tax prep tasks are being skillfully taken care of.
Another benefit to hiring a tax preparer is that it will save you money. You heard that right: adding another person to your team will increase your financial health. Tax preparers are professionals - they know if you are overpaying in taxes, and they'll know how to maximize the amount of deductions you receive.
And finally: they will help you produce error-free tax forms. You won't have to wonder if you're filing something wrong, and you won't have to spend hours of your time researching different forms and what they mean.
How To Move Forward
Our advice? Learn more about how to get ready for tax season. There are loads of resources that can help you understand this time of the year and how you (as a business) should proceed. We recommend registering for our FREE webinar, Getting Ready for Tax Season, which will occur December 17th at 11:30 AM. Katishia from KG Virtual CFO herself will be teaching this workshop!
There is no registration fee! Just apply before the deadline and you can join us on Zoom.