It simply is easier to turn over your taxes — either business or personal — to a tax preparation professional. By taking this approach, you can concentrate on running your business while the tax preparation service focuses on implementing the proper tax measures and controls.
Avoid the Payment of Penalties
You can also use the same service to source information or assist you with your company’s accounting and payroll. By outsourcing the work to experts, you can stay on top of your business operations and stay in the good graces of the IRS. That is why depending on a tax preparer in Brooklyn is important if you run a business or want to avoid paying penalties.
Electronically Posting W-2s
A tax preparer can also keep you informed about tax due dates. Make sure that you mark these dates on your calendar to comply with state and federal tax laws. For instance, during January, all employers are required to submit copies of the previous year’s W-2s to their employees. If the W-2s are electronic, you are required as an employer to post employee W-2s on an accessible website. Employers must inform employees about the electronic posting by the end of January.
Employees who worked for tips and received over $20 in tip money during December of the previous year must report the earnings to their employers by January 10. Form 4070 is used for this purpose. You can also find out more about what tax forms must be completed and submitted for estimated tax payments, health coverage reporting, or payments made to non-employees.
Do not try to do all the work yourself. By using the services of a tax preparer, you will know what forms are required and their dates for submission. Use the expertise of a preparer to keep you current when making tax-related payments to the state or IRS.
If you need to secure tax preparation services, visit Thetaxadvocategroup.com online. Make sure that you have all your bases covered fiscally. By using the services of a tax preparation service, you will make any financial recordings easier and clearer to read and use for tax preparation or the paying of bills.
