You may be surprised to find out that tax advisors don’t just handle your taxes once a year come springtime. While services vary by professional, many tax advisors also offer year-round financial support for your business. Unlike filing personal taxes which you really only have to think about once a year, business taxes are an all-year-long task — records don’t maintain themselves.
Many tax advisors work primarily in business tax, so they’re proficient in understanding the complicated ins and outs of the business tax code. The tax accountants at Denver Tax Advisors are no exception. They provide excellent service to businesses and individuals in the Denver-area.
If you’re a business owner and you’re thinking of investing in a tax advisor, but you’re unsure how it will benefit your business, here are a few reasons having a tax advisor in your corner can be a lifesaver to your business:
- They help you maintain all the necessary records and paperwork so that come tax season you don’t have to go through the headache of collecting all the records yourself.
- They can help in the event that you get audited. Most tax advisors have the standing required to represent you as a tax advisor if IRS sends notice requiring a business tax audit.
- They’ll save you money on taxes by helping build tax strategies for your business. It’s about legitimately avoiding — not evading — unnecessary taxes that only a trained professional could catch. For this reason, it’s best to be proactive and speak with your tax advisor quarterly at a minimum.
- They can handle your business taxes and personal taxes. Coordinating your business and personal taxes will help lower your taxes overall. Personal taxes are typically a breeze in contrast to filing business taxes anyway.
- They can handle bookkeeping and accounting for your business. Unless you’re an accountant, it’s unlikely that you want to spend your days in the financial books, but it’s important nonetheless. Having a tax advisor means you can focus on the parts of your business that need you the most.
- In addition to bookkeeping, tax advisors can manage payroll for any employees you may have. Having local tax advisors is best for your employees because of their flexibility and knowledge of local tax laws.
- They’re available to advise on other insurance, investment or financial planning needs. Tax advisors are well-aware of your financial situation and they’re equipped to suggest business moves that will help you achieve your long-term financial goals.