4 Reasons Your Business Needs a Tax Advisor

Dec 11, 2020Business Accounting, Business Tax, Individual Tax, Tax Planning

your business needs a tax advisor

4 Reasons Your Business Needs a Tax Advisor

Taxes are an inevitable part of owning and operating any business, large and small – they are also one of the biggest financial drains on business owners, when left in the wrong hands. If you’re ready to make 2021 a better year, your business needs a tax advisor. Intrigued but still skeptical? Read on to hear more about it from our own tax experts!

1. Less Stress

While many tax experts might argue that compliance is king, one of the most important reasons your business needs a tax advisor is the relief from the stress of doing it all on your own. Running a business means wearing many hats, sometimes simultaneously. Expecting a business owner to also wear the hat of a CPA is lunacy. Think about it this way: the time you spend stressing over your taxes could be invested in growing your business. While hiring a tax advisor is an investment you may not be eager to make, consider reframing it as an investment in your business. By taking this monumental task off your plate, you are buying yourself some bandwidth to be more present as a business owner.

2. Greater Compliance

If you’ve tackled your own tax returns as a business owner, you already know what a headache it can be. Especially with the ever-changing codes, laws, and requirements, just staying compliant with your filing is a delicate dance, much less with year-round tax planning. This is where the right tax advisor can make all the difference in the way you operate. A tax advisor’s job centers on maintaining a thorough understanding of current tax compliance laws. Armed with this knowledge, your tax advisor doesn’t just help you avoid an audit from the IRS – they identify the right tax planning opportunities to help you keep more of your earnings, within the confines of the law. 

We Do More Than Your Tax Returns

You can expect plenty of tax forms to accompany any new addition to your business. From hiring new employees to navigating your payroll taxes, your business needs a tax advisor that can help you keep up with day-to-day bookkeeping.

3. More Savings

Taxes are a significant financial drain for most business owners, especially those who choose to take it on alone. Without the help of a knowledgeable and experienced tax specialist, many owners end up overpaying or underpaying on their taxes, both of which are costly errors. The right tax advisor doesn’t just file your tax returns – they take the time to examine your business finances with a fine-toothed comb and identify the best planning opportunities for the present and future. 

4. Peace of Mind

Cliché as it may seem, we’d be remiss not to speak to the peace of mind the right tax advisor can bring. Owning a business requires grit, determination, and a strong work ethic. However, even the toughest and most self-possessed owners need someone in their corner when they’re in the weeds. The right tax advisor can help you through your business growing pains, while providing the peace of mind that you’ve maintained compliance along the way.

lifetime tax advisors

Your Business Needs a Tax Advisor – Ours Are the Best

Our tax advisors bring years of combined experience serving a multitude of different clients with varying needs. This diversity of experience allows us to tailor our tax strategies to best serve the individual goals and needs of our clients. As one of 3 companies, Lifetime Tax Advisors Inc. is flanked by experts from Lifetime Insurance Services and Lifetime Wealth Management. As such, we are uniquely positioned to offer much more than tax work to business owners. Our team truly cares about contributing to the growth of your business and advising you through that growth along the way. If you’re ready to take your business to the next level, our tax advisors are here to join you on the journey! Give us a call at (972) 771-6707 or visit our website!

Let's Get Down to Business

Whether you’re an established business or just starting out, our tax advisors can tackle your taxes, so you can get back to doing what you love! Discover what we can do for you by clicking the link below.

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