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    7 Replies Latest reply on Dec 13, 2013 10:17 AM by pauljoachim

    IRS or STATE TAX PROBLEMS ?

    taxguy2013 Newbie


      It is Tax Season !!!  Many individuals,families and businesses are facing problems with owing the IRS and State Taxing Authorites

      back taxes. What are you currently doing to resolve these Problems ?

       

      Robert Smith

      Goodnewstaxrelief.com

        • Re: IRS or STATE TAX PROBLEMS ?
          Joseph Taylor Newbie

          When you have tax problems like you haven’t filed income tax returns for past years, the IRS or your state taxing authority treats this matter very seriously.In that condition I would like to suggest you that you should hire a best CPA, who provide you the best tax return.

          • Re: IRS or STATE TAX PROBLEMS ?
            danieln Newbie

            State taxes are funny things, as no one wants to pay them but every person wants its benefits. Some states are mulling switching entirely to sales taxes, but the arguments for and against sales taxes and state taxes are equally compelling. Article source: State Income Taxes, Sales Taxes

              • Re: IRS or STATE TAX PROBLEMS ?
                Guide

                Personally, I have always wondered why people with a small business choose to for go a CPA to address any type of financial question, especially taxes. I would never dream of doing my personal taxes let alone for my business. An accountant can make or break your business. A great one can help you leap forward in the matter of one year (and I am not talking about the accountant services offered while you do your grocery shopping). Tax laws change very often and accountants have a hard time keeping up with them. But that is their job to know exactly how to get their clients ahead of the game. Why would you not want to move ahead quicker in business?  Is it really worth your business to save a few hundred, when you can get back thousands?

                 

                Melinda

                  • Re: IRS or STATE TAX PROBLEMS ?
                    outdoorledsigns Wayfarer

                    My first year as a small business owner, I worried about taxes until I actually started losing sleep and having nightmares about going to jail if I didn't have enough to pay them come tax time. I hired an account, he explained how I need to keep my records, and I didn't owe nearly as much as I thought I was going to. Well worth the investment to  find a trustworthy professional and pay them for their expertise in the area. It's easy as small business owners to believe we are the only ones capable of doing anything pertaining to our business, however there comes a point when we learn, you have to find people smarter than we are, and learn from/work with them. Hope this helps somebody.

                      • Re: IRS or STATE TAX PROBLEMS ?
                        Guide

                        Thank you for posting Outdoorledsigns. I couldn't agree more. I always wondered if there were any small business owners out there who successfully used the store bought software (Turbo Tax comes to mind) to do there taxes. Many small business owners that I knew, started out that way and quickly realized that it wasn't panning out for them and hired an accountant anyway. They too lost a lot of sleep in the beginning.

                        • Re: IRS or STATE TAX PROBLEMS ?
                          pauljoachim Scout

                          I've been in business for over 16 years and learned the hard way early on.  I've been through 4 CPA's and have had my latest one for over 5 years.  He's FANTASTIC.   Former IRS guy for 20 years.   I got lucky with him.   Bottomline is YOU need to take responsibility for understanding your taxes and understand just enough so you can have a smart conversation with your CPA.   Ask questions - LOTS of questions.   If you don't understand keep asking questions until you do.   Keep your books up-to-date.  Don't wait till years end to tidy everything up.   You should know exactly where you stand with your P&L and tax liability each quarter.  I use a bookkeeper to do mine.  I don't have that many transactions so it's affordable and fantastic to have someone else keeping the books that loves doing it.  Keeping in mind I have to review what and how the bookkeeper records for each transaction to make sure it's accurate.   Ive gotten burned when I've let me CPA's and bookkeepers do all the work and not be involved.

                           

                           

                          Paul Joachim

                          businesscash.com