How Can an Enrolled Agent Help with Small Business Taxes?

Filing tax returns is not always simple, considering the complications of the tax system, tax forms and tax laws. That is why there are financial professionals to offer you expert help with tax-related matters. You may have heard about or worked with bookkeepers and accountants while operating your business. But have you ever hired an enrolled agent for tax preparation and filing?

It is enrolled agents who help small businesses file most of their tax returns. Below, we talk about what enrolled agents are and how you can help your business by hiring one of these highly qualified professionals.

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What is an Enrolled Agent?

In the United States, an enrolled agent is a federally authorized tax professional who has expertise in dealing with a wide range of tax problems. The criteria for becoming an enrolled agent includes clearing an extensive exam or working with the IRS department for a minimum period of five years.

Not everyone can become an enrolled agent. It is a profession which requires having a high level of expertise in tax laws and regulations. While working with the IRS, the role of these professionals is to interpret the tax code. It is important to understand that an enrolled agent is different from that of general tax professionals or certified public accountants. The difference is due to the credentials, qualifications and expertise that an enrolled agent carries.

Why a Small Business Owner Needs an Enrolled Agent

By hiring an enrolled agent, you will find it easy to handle and resolve a wide range of tax issues. The professionals work like an expert guide to help you navigate the entire gamut of taxation laws.

Expert Advice

When dealing with complicated tax problems, you need someone who has deep expertise in tax laws. An enrolled agent is quite well-versed with how the tax system works. If you want the best tax advice, you should turn to these professionals for expert help and solutions. In fact, working with an enrolled agent simply translates to saving lots of money every year.

Tax Planning

For smoothly running a small business, it is crucial to plan the taxes in advance. It is sad that many small business owners underestimate the potential benefits of tax planning. Rushing to the accountant at the last minute each year can put you in great trouble. Tax planning is a process which keeps you well-informed about where you are financially and how to make the best decisions in terms of conducting business. An EA is the professional you need to plan your taxes ahead of time and reduce or get rid of the tax liability altogether.

Tax Returns

To save your hard-earned business money, you need to file your taxes in a correct manner. Running a small business will leave you little time to navigate the tax laws and codes. Through his expertise, the EA will help you file your tax returns while reducing the amount of tax bills to the minimum. This means your tax returns will be accurate and free from any kind of errors. Having an EA by your side will lessen your heavy burden of the tax season.

IRS Representation

For small businesses, dealing with the IRS can prove to be a pain in the neck. If the IRS decides to audit your taxes, you will not be able to deal with such problems on your own. Coping with audit, payment or collection issues will become easier with the expert help of an EA. In fact, the EA will represent you before the IRS department in an effective manner in tax-related situations. The best thing is that the professional will work in your best interests. The enrolled agent will keep you up-to-date with what is going on, what your best options are and what you can do to get rid of the various IRS or state audit issues.

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Other Tax Matters

CPAs can handle matters such as budget planning, bookkeeping and financial planning, but an EA will provide you guidance on simply any problem in connection with taxation. Once you have set up your small business, the enrolled agent will help you stay on top of deductible business expenses as well as help you with many other tax matters. If you are filing tax returns in multiple states, the EA has the authority to work across states.

How to Find an Enrolled Agent

Finding and hiring an enrolled agent is easy. Your first authentic source is the official website of the NAEA. Here, you will be able to see a list of all the EAs that operate in your location or area.

You can also look for these expert tax practitioners in online directories such as Yelp or find one via Google search. Make sure you hire a certified enrolled agent for your small business taxes. Popular and reputed tax preparation services also have enrolled agents in their team of tax professionals. If you reside in the Bronx, NY, you should head over to the SCL Tax Services to get an EA to help you with your tax planning, tax filing and resolution of your tax problems.

Do You Need an Enrolled Agent?

Hiring a certified enrolled agent will prove to be extremely useful, if you are facing an IRS audit or need help with your tax calculations. Whatever tax-related problem you may be struggling with, these professionals will offer you expert guidance to stay on the right track and save on tax bills.

At the SCL Tax Services, we have certified enrolled agents who have been assisting a number of small businesses in tax-related matters. Our EAs have broad experience in dealing with IRS audits and appeals as well as filing complicated tax returns with great accuracy. These professionals will help you remain well-informed at all times, resolve your taxation problems and boost your confidence, so that you can keep your focus on the growth of your small business.

Give our office in the Bronx, NY a phone call or send us an email for your consultation with one of our enrolled agents.

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