Small Business Tax Audit Prevention

Posted on Posted in Business, Taxes

 

Currently 2017 tax has come to a close, and the 2017 tax due date will be here sooner than we think. Although small business taxpayers are in fact rising in numbers, the Internal Revenue Service will not be slacking when it comes to those who either do not pay taxes or neglect to correctly report their information. The I.R.S. is as vigilant as ever, and they are continuously improving software, to monitor potential unethical taxpayers.

To prevent being audited, a small business owner must file taxes. This is the unquestionable minimum prerequisite, taxes must be filed.  At PBS we can aid you in filing your business taxes to make sure there are no errors when your small business taxes are filed.  If a mistake is made or something has been neglected, then you may be fined, but neglecting to file altogether can a more dire consequence. A lien can be placed on any valuable property like, a car, home, boat, or any other valuable.  A PBS tax expert will guide you through every step of filing to make sure there are no errors.

Also, it is imperative to account all sources of earnings. The I.R.S. might be somewhat lenient if information is accidentally reported incorrectly, but there is little leniency for those who completely omit some information. This is considered to be purposefully hidden.

Human error is likely to occur, to help this problem it is recommended to have an advisor help you file your small business taxes.  They will double-check the math on each form and make sure your taxes are filed on time.  By taking these simple precautions you will not be audited by the IRS.

 

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