Visiting a tax advisor for tax consulting services in the Palm Harbor area is critical for businesses and personal finances. Whether you are familiar with preparing your own returns or you need assistance, seeking the help of a professional is beneficial. Many people miss out on valuable opportunities by skipping deductions or accidentally making mistakes on their forms. There are a lot of numbers and paperwork involved, so it is easy to make an error. The IRS will still take action, even against errors made by mistake. Therefore, to take hold of your finances and make sure your returns are proofed, visit BizBooks4U.

A Tax Advisor Helps You Prepare Tax Returns

Preparing for your return requires forward thinking and planning ahead. Make sure that you have the following ready for your tax consulting meeting where you will meet with your Palm Harbor tax advisor:

  • Basic information: full name, date of birth, address, phone number, marital status, dependents, and occupation.
  • Assets: savings, stocks, property, etc.
  • Employment information: employee or contractor (W-2 forms for employees or 1099 forms for contractors).
  • Other information: mortgage interest, marketplace healthcare purchases, and more.

Your tax advisor will use all of this critical information to prepare your return. This information will indicate where to make deductions, exceptions, and other ways to lower the amount you owe to the government at the end of the day.

Businesses and Self-Employment

If you are self-employed or own a business in Palm Harbor, you will need to submit estimated quarterly taxes to the IRS. If you fail to submit the required information, the IRS may penalize you with late fees, compounded with interest. A tax advisor at BizBooks4U can provide tax consulting services to make sure you know what deadlines you need to meet as a Palm Harbor business owner. You should know that underpaying can lead to underpayment fees or back taxes. These expenses gather interest, so delaying payment will only compound the costs. With a dedicated tax advisor, you can ensure that you do not miss a deadline or make a mistake.

Should a business fail to file on time, they may incur late filing penalties as well. These penalties apply even after the 0.5% monthly interest from back taxes. Late penalties are 5% of the owed monthly amount. After 60 days, the minimum penalty is 100% of the owed amount, or $135, depending on which is smaller.

Tax Consulting and More at BizBooks4U

At BizBooks4U, our professionals have one goal, and that is to help you take control of your finances. We are a judgment-free zone, and whether you feel like you know a lot about taxes or you feel lost at sea, we can help. Some of the tax consulting services we offer in Palm Harbor include:

  • Bookkeeping. This may include payroll, bills, invoices, and more.
  • Quarterly Taxes. Estimating quarterly taxes can eat up a lot of time. We will complete the paperwork and make sure you are well on your way to financial success.
  • Business Tax Deductions. During your tax consulting services, a tax advisor can help you find deductions that you did not know you qualified for.
  • Accounting. A professional accountant can revamp your accounting system or adapt to your current setup, whether you use Fresh, Excel, Quickbooks, or something else.

When you choose us, you will benefit not only from expert tax consulting services in Palm Harbor, but you will be able to uncover deductions and hidden expenses in your finances. This will lower your payments and increase your returns. Our professionals obtain all the necessary information to provide you with detailed reports explaining the work we have done. We will also explain how it affects your accounting. Our in-depth analyses can show you where you can grow your business or where you can make cutbacks to meet your monthly, quarterly, or annual goals.

To schedule a tax consulting meeting with a professional tax advisor in Palm Harbor, call BizBooks4U at (727) 939-1044 or contact us online.