15760 Ventura Blvd, Suite 610 Encino, CA 91436
15760 Ventura Blvd, Suite 610 Encino, CA 91436
Personal, Affordable Payroll Services, Bookkeeping, and Tax Processing for Small Business throughout Los Angeles County.

3 Reasons to Let Your Accountant Navigate Tax Season

It’s that time of year again, tax season. Small business owners across Los Angeles are frantically updating their QuickBooks – or other bookkeeping software – and wondering what deductions they are eligible to claim this year. It can be a little daunting, but that’s nothing to feel bad about. Tax accounting is a very specialized field, and you’ve followed your passions in a different direction to own and operate your own small business. Luckily, the small business accountants at Accounting Taxes Payroll Partners followed their passions, too.

As a small business owner, you might be used to taking care of everything by yourself. We’ll give you three good reasons to rely on small business accountants to navigate tax season.

Tax code changes all the time

The big news last year was the new tax legislation passed by Congress. The changes to tax law introduced in the bill are the most extensive changes to taxation in the United States in modern history. The good news is that this new legislation won’t apply to the taxes you are getting ready to file. The bad news? Tax laws and allowances change all the time and the rules for your 2017 taxes are slightly different than your 2016 taxes.

For example, deadlines have changed, certain tax breaks have been extended, and bonus depreciation rules have changed. Small business accountants study tax legislation changes like these and others so they can help clients like you make the most of the available deductions, pass-through earnings, and more to reduce your overall tax burden.

Tax rules are different for different company structures

As a small business owner, you had several company structure options when you set up your company. Each of those structures has different tax rules. Unless it’s your job, you may not be familiar with the nuances between the tax treatment of an LLC and a corporation, or what makes your company an S-corp or a C-corp, or what to do if you’re a sole proprietor. Getting it wrong can end up costing you more or even lead to penalties or an audit. It’s better to work with your trusted accountant and get it right the first time.

Reduce your tax burden and save money

And finally, when you work with a small business accountant who is has a comprehensive knowledge of the current tax laws, your taxes are filed correctly, with all of the correct deductions claimed, ultimately saving you money.

If you’re already scratching your head over how to minimize your tax burden this year, contact the small business accountants at Accounting Taxes Payroll Partners today at 818-436-2775.