Small Business Tax Preparation Service
70,000 pages: That seems to be the consensus on the length of the Internal Revenue Code, a figure reported by such presumable stalwarts of serious journalism as the New York Times and public radio’s Marketplace. The sheer length is nothing short of overwhelming for many who hope to understand business tax preparation. It is, however, not correct. In 2014, an attorney from the Congressional Joint Committee on Taxation writing for Slate reported that the actual page count was at that time closer to 2,600. The inflated number comes from combining the actual code with legislative history, associated regulations, and court cases relevant to each item, plus editorial commentary. Sadly, though, that is no reason to breathe any easier. But hiring a third party expert for your small business tax preparation service? That’s a breath of fresh air.
Keeping up with the Changes
The complexity inherent in small business preparation and strategy doesn’t arise from the length of the tax code; it arises from the frequency of changes to the tax code. The IRS reported that from 2001 to 2012, Congress made almost 5,000 changes to the code. As a result, business and individual taxpayers spent about 6.1 billion hours each year on compliance.
The IRS report urged Congress, in so many words, to simplify the tax code and stop making so many changes. It’s likely you can guess how effective that recommendation was. The changes that Congress makes each year as part of policymaking via the tax code are numerous enough. And the changes that major initiatives such as the Affordable Care Act create periodically turn the flood into a deluge. Keeping up with the changes is a real challenge. By hiring a third party, you can focus on your business with no need to overwhelm yourself in increasing complexities of tax regulation.
You Need Expert Business Tax Preparation Help
The frequent changes to the tax code mean that as a business owner, you need expert help. The bottom line is that even if you handle your accounting in-house, your staff—even your controller or CFO if you have one—doesn’t have the time to keep up with the annual changes. Their focus is and must be on your business accounting.
Your business tax resource should be someone focused specifically on taxes, with the time and ability to identify and thoroughly understand the changes and determine their impact. Ideally, that someone should handle your business tax returns year after year so that they learn the particulars of your business and know immediately if you will be affected by specific tax code revisions.
Hire BroadCreek Group Today
BroadCreek has an experienced staff of expert accounting professionals, including members specializing in small business tax preparation services. In addition to resources available to handle your company’s accounting, BroadCreek can provide expert advice, tax planning, and tax preparation this year and every year. We encourage long-term relationships with clients, as they are mutually beneficial. Hire us as your business tax partner, and we’ll help you show you get the edge over the constantly-shifting tax code.
Contact us today to learn more—there’s still time before the 2016 return filing deadlines.