How to select a Tax Strategist as an Entrepreneur or a Small Business Owner
 

When small businesses decide to bring in a Tax Strategist, they should know what to expect and how to select a reputable practitioner.

What a small business can expect from a tax professional?

Tax Strategists are often able to advise a small business or entrepreneur on the most effective way to structure their business. For instance, they can help a business owner or entrepreneur decide whether their business interests would be better protected as a sole proprietorship, LLC, Partnership, S corporation, C Corporation or if another business structure would serve them better.
Many Tax Strategists inspect books and records to help a business make sure that it is reporting all income. They can also make sure the business claims all the deductions and credits available to them.
A Tax Strategist can help small business owners and entrepreneurs answer other questions as well, such as whether they are subject to excise taxes or need to file employment tax returns.
A qualified Tax Strategist may be able to represent the business if it’s contacted by the IRS regarding a tax matter.
A knowledgeable Tax Strategist is also aware of many tax-related scams, like phishing, unclaimed refunds, ghost preparers and others described on the Tax Scams and Consumer Alerts page of IRS.gov.  A Tax Strategist knows that if something sounds too good to be true, it probably is, and they can help businesses avoid and report such scams.

How to find a small business Tax Strategist?

Taxpayers are responsible for all the information on their income tax return no matter who prepares the return, so it’s important to find a reputable Tax Strategist.
Remember, not every Tax Strategist is for every business owner and not every business owner is for every Tax Strategist. Choose yours wisely.
Feel free to email us via contact@savvysavingsgroup.com or Text to 860-968-6060