Have A Peace Of Mind This Tax Season With Our
Accountant For Business Taxes
All year round, business owners are busy juggling tasks- from running the business operations, to managing the staff, to dealing with the business income, as well as the business expenses. All of these while ensuring that they are always complying with the law. It can be quite stressful to handle all these by yourself. That’s why it’s understandable that when it’s tax time, many business owners are already burned out. If you’re feeling the same, our accountant for business taxes can help you lessen your tax burden. Contact us today.
Expert Accounting.
LYFE Accounting is a team of professionals that is run and directed by Registered Investment Advisors and Certified Public Accountants (CPAs), the highest level of certification you can attain. Take this as our guarantee that all of your financial statements and business tax reports will be accurate and expertly handled. Stop stressing about your business tax liabilities, our tax experts will handle that for you.
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Tax services or not, every business uses the best solutions available. But how will you know which is the best one for your business tax needs? Go with the choice of other businesses like yours. Over the years, hundreds of individuals and businesses trust us in managing their financial and tax information. And this number is still growing. Our experience, dedication and skills combined with the latest accounting software like QuickBooks are just some of the reasons why our clients love us.
Hundreds of Small Businesses Served
Your Numbers are in Good Hands
Professional Accountants For Your Business Tax Return
Our Tax Professionals Will Help Lift Your Tax Burden So You Can Focus On Growing Your Business
How was your business tax return last year? How about the previous years before that? Were you able to file and process your business tax obligations?
Businesses can’t simply escape tax filing. That’s why business owners like you should learn the tax policies for your locality. Note that your tax payables will vary depending on not only your locality, but also with the industry you’re in, the size of your business, your nationality as the owner, and so on.
Don’t be like other business owners who are so focused on running and promoting their business that they tend to neglect their tax liabilities.
That’s a big no-no.
Every year, business owners need to report their revenue, expenses and profits to the Internal Revenue Service (IRS) in an effort to pay their fair share of taxes. Failure to pay your business tax returns on time can result in payment of fees and penalties. And if you’re just starting out with your business, it would be bad for your finances to allot your hard-earned money to paying taxes that could have been avoided.
That’s why it’s vital that even before you started your business, you should have already chosen the legal structure of it. You need to register for your taxes at the right time, prepare all the needed documents and tax file forms, estimate your tax payment so you can allot a budget for it, and lastly, get the help of the experts.
Hiring a professional accountant for business taxes will save you the stress of handling your tax liabilities. They do it accurately and right on time.
Ensure That Your Business Is In Compliance Of The Tax Laws
Let Our Accountants For Business Taxes Help You
Ways On How Accountants Can Help Your Business Taxes
Did you know that the IRS can take away your business property if you can’t keep up with your tax obligations on time? Sounds scary, isn’t it? Well, if you do love your business, you should be scared. After all, this kind of problem could have been avoided if only you paid more attention to your tax duties. This is where working with an accountant for business taxes will make more sense for you. They don’t just prevent the above scenario from happening, they can do the following things as well.
Maximize Your Tax Deductions
Even before the tax season, a lot of business owners are probably agitated thinking of ways on how they can maximize their business’ tax deductions. However, they often get tangled up in several business operation’s tasks that by the end of the year, it is already too late to make an impact on their taxes.
One of the reasons why this happens is because business owners often tend to forget tracking and accounting items like depreciation, their out-of-pocket business expenses, and home office spaces. Working with an accountant for business taxes can help you identify these potential tax deductions throughout the whole year and give you actionable tax advice on how to make decisions for these year-end tax deductions.
IRS Tax Compliance and Timely Submission of Tax Forms
If you think accounting terms are complicated, wait till you encounter tax codes. If you opt to manage your business taxes by yourself, there’s a lot of things that you should learn. From different tax forms such as form 720, form 1065 (schedule k-1), form 1040 (schedule c), form 1099-misc, etc., to learning the tax laws governing your locality.
Having an accountant working on your taxes will save you the troubles of learning these things to ensure you’re being compliant with the IRS. They can help you keep an organized record of your financial data that will be helpful in computing your tax payments. An accountant for business taxes will also make sure that all your tax forms are filed and paid on time.
IRS Tax Compliance and Timely Submission of Tax Forms
If you think accounting terms are complicated, wait till you encounter tax codes. If you opt to manage your business taxes by yourself, there’s a lot of things that you should learn. From different tax forms such as form 720, form 1065 (schedule k-1), form 1040 (schedule c), form 1099-misc, etc., to learning the tax laws governing your locality.
Having an accountant working on your taxes will save you the troubles of learning these things to ensure you’re being compliant with the IRS. They can help you keep an organized record of your financial data that will be helpful in computing your tax payments. An accountant for business taxes will also make sure that all your tax forms are filed and paid on time.
Save More Time & Money
As a small business owner, keeping tabs on your financial data, recording and then filing it will obviously be time consuming. It will eat up a lot of your time- time that could have been used to grow your business. But if you think that it’s not practical for small businesses like yours to get an accountant for business taxes, then you might want to think again.
If you try to manage your business finances all by yourself, you could run into the risk of incurring errors in the recording and reporting stage, thus making you lose more in the long run. With this in mind, the benefits of working with an accountant surely outweighs the cost of hiring one. Having an accountant to guide you along the way will save you both time and money while also allowing you to focus on growing your business.
Gain More From Your Finances
When you have up-to-date financial statements like your cash flow statement, balance sheets, income statement, there will be less possibility for you to have future penalties or interest on the government reports that you submit. They help you save you money from paying future penalties and charges of correcting your books and tax returns on time.
Moreover, you can easily calculate the possible consequences of your future business purchases. For instance, if you’re planning to make a big purchase of office supplies or get additional staff, how will it affect your overall budget and tax payments? When you have an accountant that will monitor your cash flow on a regular basis, you will have an overview of your financial situation real-time. This will allow you to make smarter business decisions while maximizing your financial capabilities.
Gain More From Your Finances
When you have up-to-date financial statements like your cash flow statement, balance sheets, income statement, there will be less possibility for you to have future penalties or interest on the government reports that you submit. They help you save you money from paying future penalties and charges of correcting your books and tax returns on time.
Moreover, you can easily calculate the possible consequences of your future business purchases. For instance, if you’re planning to make a big purchase of office supplies or get additional staff, how will it affect your overall budget and tax payments? When you have an accountant that will monitor your cash flow on a regular basis, you will have an overview of your financial situation real-time. This will allow you to make smarter business decisions while maximizing your financial capabilities.
Have A Peace Of Mind
Lastly, get your peace of mind. This is very important if you want to run your business for years. Having a sound financial management strategy in place will allow you to focus more on running your business and generate as much profit as you possible.
Having an accountant by your side who manages your accounting books and ensuring your business tax compliance will bring you confidence if ever someone comes to do an audit on your business. You don’t need to worry as you know you have accurate records to show that you are indeed complying with the tax law.
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Small Business Tax Solutions
We help small businesses of all shapes and sizes with their taxes.
Sole Proprietorship (Self Employed)
This type of business is when the owner and the business are legally the same. All income tax returns, business expenses, assets, and liabilities are assumed by the owner. When you decide this type of business, make the best of your business losses and minimize your tax liability. Your self-employment tax should be your main focus.
General Partnerships (1065)
Similarly, the business and its owners are treated the same. These partnerships will divide their share of assets and liabilities according to their percentage owned. Partnerships can be great for tax purposes when done correctly. There are different types of taxes that fall into the excise tax category and you should discuss these as partners as well.
Limited Liability Companies (LLC)
The business and its owners are legally separate. LLCs are treated like partnerships for tax purposes and are “pass-through” entities which means no tax on the LLC”s income.
S Corporations (1120S)
A separate legal entity from its business owners. S corps, like LLCs, are pass-through entities so they are not subject to double taxation like C Corporations are. This allows for great tax flexibility.
C Corporations (1120)
Corporations pay taxes on their business income and then a second tax is paid on owner’s dividends. C Corps are great for developing businesses who offer shares to their investors.
Non-Profit Entities (990)
Nonprofits are not subject to pay any federal taxes when they turn over all taxable income to individuals or organizations who are lawfully recognized as charitable. Nonprofits must perform tax filing to stay compliant.
Every Dollar Will Make Sense
You deserve to have complete control and understanding of your finances and business taxes. We help you do just that.
Every Dollar Will Make Sense
You deserve to have complete control and understanding of your finances and business taxes. We help you do just that.
It’s Accrual World – We Make It Easy For You
Four Reasons To Love LYFE Accounting
Our Tax Services Process:
Initial Meeting With Your Dedicated Accountant
Once you decide to work with us, your account will be given a dedicated accountant. We will conduct an initial consultation to assess your business tax situation and start to plan accordingly.
Develop A Customized Strategy
Your designated CPA will now start to create a financial strategy that will revolve around your specific business’ financial needs and goals, while keeping in mind your current business tax situation.
Consultation & Monitoring
Lastly, your dedicated CPA will now provide a report summarizing our financial advice. Moreover, we will continue to monitor the progress of the financial strategy we submitted and implemented for you.
Hundreds of People Choose LYFE
“I had an awesome experience at LYFE Accounting. My accountant was really knowledgeable & professional. She got me the maximum refund possible…I would recommend LYFE Accounting to any & everyone.”
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CLIENT TESTIMONIAL
“I can’t say enough good things about Lyfe Accounting. Not only was Krystal super helpful for our small business, but she was amazingly fast at getting our taxes taken care of for us. I highly recommend her to anyone looking for CPA services!”
– E. Fogg
