What happens if your accountant makes a mistake that could incur penalties or interest? The consequences to you and your business can be severe. A reliable, knowledgeable accounting team will make sure this does NOT happen to you. While minor accounting mistakes or oversights may happen from time to time, accounting and tax specialists will make sure that major mistakes are avoided and that your company is not penalized by human error.
What About Getting Audited?
While nobody can know for sure if they’ll get audited in any given year, the truth of the matter is that many businesses ARE audited every year. This means that there’s always a possibility that you will be next.
How do you prepare for something that may or may not happen? One way to get ready for an audit is to make sure that all of your tax papers are in order. You need to have past returns on hand. You need to be able to access business receipts readily. If these tasks feel daunting, then it’s probably in your best interest to have an outside agency that’s well-versed in taxes handle this important job for you.
Suppose the IRS or state tax authorities do audit you. What if you’re not satisfied with the way your tax return was prepared?
That’s the beauty of audit insurance. It’s a way to protect yourself against unsatisfactory task preparation and prepare yourself for the possibility of being audited. It’s a form of protection your small business can benefit from immensely.
How Audit Insurance Protects Your Business
What is audit insurance, exactly, and is it worth getting? In our opinion, the answer is a resounding yes. Tax audit insurance protects your business in the event of a random tax audit and also protects against any mistakes that may have been made when your taxes were filed.
Audit insurance can cover expenses incurred during your audit. Just as importantly, it provides you with skilled representation so that you don’t have to go through the audit on your own. There is someone by you who is ready to serve as your advocate. This is an extremely valuable service that we hope you will never need, but should you find yourself in the position of being audited, we believe you’ll find this service indispensable.
An Important Element In Tax Preparation
As a key feature of our tax preparation services, audit insurance allows our clients to receive skilled representation before the taxing authorities without it costing you a dime, if we make a mistake on your taxes.
Most important, you’ll enjoy total peace of mind knowing that you never, EVER have to deal with the IRS alone! If you have any questions or would like more information, don’t hesitate to reach out to us at Straight Talk CPAs.
Other Ways We Help Small Businesses
Tax preparation services are what we specialize in, but we’re also here to help you with other services that you and your small business will benefit from. They include:
- Handling Sales Tax
- Preparing Financial Statements
- Managing Tax Flow
- Maximizing Profits
- Retirement Planning
- Legacy Planning
With us handling your taxes, you’ll have more time to grow your business and maximize your profits! Get in touch with us today to get started.