Common Businesses That Need Tax Services

Tax worker with a business owner

For businesses, there are few administrative tasks and processes more important than tax work. Tax mistakes, even when unintentional, can lead to lengthy battles with the IRS with dire consequences such as tax fraud charges. Under-reporting income, over-reporting expenses, and even not reporting taxes such as sales tax or payroll taxes can lead to big problems with various taxing authorities, including the IRS. Therefore, businesses must consider professional tax services when there are questions or concerns. LongSchaefer looks at three common business types that can benefit from tax services in today’s blog. 

Law Offices

Legal practices already utilize tremendous amounts of administrative and clerical work. Few businesses have more paperwork floating around than a law office. Because of numerous tasks to keep track of, law firms may overlook proper tax work. Even if law offices stay on top of their finances, they won’t be able to complete it with the same level of expertise as a professional tax office. Attorneys and their firms should consider professional tax services to prevent tax problems and avoid hassles with the IRS.

Dentists

Dental practices already have enough on their plates when dealing with private insurance companies, as well as patients with Medicare and Medicaid. Think about how much more administrative paperwork a dentist’s office has to deal with when it comes to tax time. With professional tax services, dentists can delegate that work to a skilled accountant and stay focused on what is most important: their patients. 

Small Businesses

Small business owners can’t leverage the same type of financial resources as larger businesses and corporations. That means they have smaller staffs and have to carry more of the day-to-day workload. Owners juggle finances, daily tasks, employee schedules, problem-solving, and delivering products or services to customers. It’s far easier for small businesses to make tax errors because owners try to juggle tax filings along with their already heavy workload.  At LongSchaefer, our team helps small business owners avoid trouble with the IRS thanks to our professional tax services. We make your life easier by allowing you to focus on your business instead of taxes. 

Contact LongSchaefer for Tax Services

If you need tax professionals on your side, LongSchaefer has the experience you require. For more information on our services, give us a call at (513) 245-0300, or contact us online today. 

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May 2020 COVID-19 Update

In order to comply with the Ohio Health Department Order & CDC social distancing recommendations, our offices are closed until further notice. Rest assured that our established protocols and available technology will allow us to provide the same level of service and quality you expect from LongSchaefer during this time.

The SBA has announced details of how it’s helping small businesses through the Coronavirus outbreak. The IRS is sending payments to families affected by this crisis. 

Please click on our Coronavirus information pages for more information.