Smart Tax Strategies for Audit-Proofing Your Small Business

Going through an audit can be nerve-wracking and time-consuming. Most business owners would rather pull their own teeth out than deal with the IRS. Here’s how to survive the ordeal and avoid future audits in the future.

Small business tax woes

Outsource Your Accounting and Tax Work

If you want to avoid a lot of trouble with the IRS, pay someone else to deal with them for you. Outsourcing your tax and accounting work is one of the best moves a small business can make. Too many businesses mistakenly believe that they must do everything themselves.

In some ways, their entrepreneurial spirit “forces” them to “take on the world.” In reality, they’re setting themselves up for a legal nightmare.…

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5 Predictions for the Future of Small Business Taxation

The financial ramifications of taxation are at the forefront of any small business owners mind, with the issue seemingly never far from the headlines throughout the commercial world.

Indeed, tax policies are certain to have a huge impact on the decisions SMEs make in the future, as expansion on a global scale and rising regulatory control become increasingly obvious.

Small business taxation

From the government’s perspective, tax will continue to grab its attention as they look to fill the coffers and get a grip on the levels of tax for which they’re liable.

As a small firm, there are several factors you should be aware of in the coming weeks and months that will have a marked effect on how you do business.…

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