Top Five Accounting Errors Fixed by Tax Experts
Being a small business owner is highly demanding of your time and focus. Putting together your tax return can seem like a daunting task, always waiting on “one more thing” before it’s ready. Whether out of impatience or lack of time, mistakes happen. We get it, you want to submit your return on time and move on. Our tax professionals at JTC accounting firm in Winter Park FL can support you in this goal, making sure things are prepared properly and efficiently.
Common Errors
Name Spelling
Picture this: you’re in the office late, trying to gather all the documents and input the required details on your business tax forms. The next morning, you realize you spelled three names wrong on every single form and now you have to start from scratch. Rather than spend your time and energy worrying about tax details, the JTC accounting firm in Winter Park FL is ready to support your efforts.
Account Numbers
Nearly complete filling out your tax return information, you are trying to finish up and get home. Transposing a number, you fill in the account and routing numbers and head out. Weeks later after submitting your business tax return, you realize that your refund never came through. Are you sure you input everything correctly? Rather than second-guessing your tax preparation, the JTC accounting firm in Winter Park FL has experience helping businesses just like yours. The process includes checkpoints and reviews, making sure that numbers match up before you can submit certain details.
Forgetting to Make Copies
Trying to get ahold of your tax documents after you send them to the IRS is like pulling teeth. Not only expensive, but it also requires you to wait a significant amount of time before receiving anything back. If you have any outstanding requests from the IRS, we can provide you with tax resolution services to better service your needs.
By choosing to work with the JTC accounting firm in Winter Park FL we will help you keep track of your return by providing you with a digital copy while sending one to the IRS. Instead of trying to track one more thing, you will have a digital file that you can store securely and access in case of an audit or other situation.
Missed Credit Opportunity
Working through your small business tax return is frustrating enough just organizing the big details. Trying to figure out which deductions apply to your business situation can be worse than that college entrance exam you took ten or twenty years ago. Your experts at the JTC accounting firm in Winter Park FL are experienced with taxes in your business industry. They understand where you’re coming from and know what credits you can get.
These tax deductions can be achieved through preparing a specialized tax strategy for your situation. Our accountants will sit down with you and carefully review your business income, expenses, and liabilities to determine what more you can do. After making a specialized plan you will be more prepared for future tax credits, further saving you on tax liability and related costs.
Doing the Wrong Math
You thought you put in the right data when you were filling out the tax documents. After submitting your return, you realize you may have done your math wrong and made some errors, but by then it may be too late. To avoid this situation, you can come to the JTC accounting firm in Winter Park FL, and have peace of mind. Your taxes are prepared in a multi-step review process, requiring checks and double checks to ensure that your data is correct and complete.
Wrap Up
If you’ve made it this far, you might be wondering what’s next for your small business. Don’t worry about filling out your tax return information, just make sure that you provide your preparer at JTC accounting firm in Winter Park FL with the right information. Let us help you stay focused on growing your business while we support your accounting and financial goals.