Many of us aren’t aware of all the benefits, deductions, credits, etc. available to small businesses. That is why I am an advocate for the professional tax preparer. (disclaimer: I am one). Most licensed tax preparers (CPA, EA, tax attorney) are required to obtain continuing education of 24 to 40 hours a year in order to keep their license. That’s a lot of classroom hours!!
They are able to keep up with the tax laws, changes, and regulations a lot easier than the small business owner who is already wearing several hats. Yeah, you know what I mean. So, why would you want to add another hat to that stack? Do you really want to spend the time to become an expert in tax?
Give your worries to the professional and let them worry about it. Besides, they usually pay for themselves with the tax savings they can find for you. I recently had two circumstances where I was able to get the small business client $600 – $900 more in refunds because I was aware of something they weren’t.
Worth it? If you are a small business owner and consider yourself successful, you know the right answer.
