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5 Things Our CPAs Look For In Your Business Tax Return

September 20, 2019
Taxes

Are you preparing to file your yearly tax return? Consider hiring a company that has a team of CPAs with unmatched knowledge, experience, and education in the tax preparation and filing process. At Halon Tax, we take our time to check over your business tax return to ensure its accuracy and to save you money. We combine our unique software with human CPAs to provide your business with a smooth, efficient tax process. Our team of certified CPAs works with your business and thoroughly analyzes your financial documents. This team is trained to look for accurate records and other items to save you time and money on your tax return.

 

Accuracy

 

One of the main reason businesses hire CPAs to assist in their tax preparation process is to avoid any errors. Because the process is complex, it can be easy for a business owner to make errors on financial paperwork that is only filed once a year. CPAs work with taxes and financial analysis all year long, so they are trained and qualified to look for common and frequent errors. These mistakes range from misspelled or mis-typed names or information to math errors. Hiring a CPA to check your work will help speed the process along, for tax returns that are filed with errors will slow down the process, which will delay your refund.

 

Tax Deductions

 

The goal of every business is to maximize money and profits. Hiring a CPA to help with your tax return can help you accomplish that goal. They are trained to look for items taxpayers can deduct. The more deductions your company can apply, the more money you get back on your return. This allows you to reduce your tax burden and maximize profits.

 

IRS Audit Red Flags

 

This is perhaps the most critical need for most small businesses, as no one wants to be audited by the IRS. A CPA offers expertise and experience tailored to recognizing and fixing any red flags that the IRS may detect. These include failing to report a taxable profit, taking certain deductions, failing to report any information, or even overlooking a piece of critical financial information. CPAs will work with you to minimize any potential issues with the IRS and be able to offer you counsel on how to avoid those mistakes in the future.

 

Up-To-Date Information

 

Many business owners and entrepreneurs are not always current with new tax laws and legislation. CPAs stay up to date with these laws by taking yearly exams to assess their knowledge and understanding of any new tax information. This gives them the expertise to identify and mitigate any issues that may arise in your return. A CPA can help you avoid spending money and resources on any future audits that may occur without your awareness of the new laws.

 

Follow-Up Recommendations

 

After they have reviewed your tax return and implemented changes, a CPA will be able to give you financial advice for the future. This will help you to establish new strategies to ensure accuracy moving forward. Throughout the tax process, it is helpful to know that a CPA is in your corner. At Halon Tax, our CPAs are available for support via chat or phone. They are here for you to ask questions, get advice, or hear recommendations customized to your business.

 

Halon Tax values our customers, providing them with an affordable option to file taxes with the help of a CPA. Our process guarantees that your return is done accurately and maximizes any deductions you may have. Call Halon Tax at 612-293-8094 to get started with your own CPA.

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Christopher Ragain, CPA

Christopher Ragain, CPA is the founder of Halon Tax and one of the industries top authorities on micro-business taxation and tax planning.

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