Do you have a gnawing feeling in the pit of your stomach every January, knowing that you’ll have to spend hours poring over complex IRS forms? And what about those dreaded audits?
Tax preparation is one of the most hated chores in America, and it’s no wonder why. The tax code is insanely complicated, and it seems to change every year.
Even if you feel that you have a good handle on taxes, mistakes can be costly. If your business owes money to the IRS, you could be hit with hefty fees and penalties.
That’s why picking tax resolution services is so crucial for businesses. A good tax resolution service can help you negotiate with the IRS, and in many cases, they can get your taxes reduced or even eliminated.
But how do you pick the right tax resolution service for your business? Here are a few tips.
Tax Resolution Experience
First things first, you’ll want to find a tax resolution service that knows how taxes work. This might seem obvious, but some companies don’t have enough experience with business taxes or IRS negotiations.
When picking tax resolution services, make sure they truly understand the laws and procedures surrounding the IRS. If possible, seek out a company that has been in business for at least five years.
The most experienced tax resolution services understand the IRS inside and out, which can help them get you a better deal.
References and Reviews
You should also take some time to check out online reviews for tax resolution services. Reading customer reviews will help you determine which companies are trustworthy and reliable and which might be scams.
Online review sites such as Yelp or Google can provide helpful information about local tax resolution services in your area. You should also look up the company’s Better Business Bureau rating if possible. This rating will give you an idea of how many complaints have been filed against them.
In addition to reading general customer feedback on these sites, find specific testimonials from business owners who’ve used the service before. These testimonials can be a great way to learn about the company’s strengths and weaknesses.
Tax Resolution Service Budget
As with any business service, tax resolution services come at a cost. Most companies will charge an hourly rate, although some may offer flat fees for different tax issues.
Before committing, be sure to research the costs and fees associated with your potential tax resolution service. If possible, schedule a free consultation so you can ask questions and decide if they’re worth hiring.
Most importantly, choose a tax resolution service that fits within your budget. The IRS can be intimidating, but you don’t have to pay an exorbitant fee to get the help you need.
If cost is a concern for your business, make sure to compare quotes from multiple tax resolution services before committing. You might even be able to get a discount if you hire them for various services.
It’s important to remember that tax resolution services are not miracle workers. They can’t wave a magic wand and make your taxes disappear.
So if you come across a company that is making wild promises or guarantees, be wary. Legitimate tax resolution services will always be realistic about the chances of getting your taxes reduced or eliminated.
You should avoid any company that is making impossible promises.
Check for Licensing and Certifications
Certifications from organizations such as the American Institute of Certified Public Accountants (AICPA) or the National Association of Tax Professionals (NATP) are also a good sign. These certifications mean that the company has met standards of quality and professionalism.
In addition, many states require tax resolution services to be licensed. You can check with your state’s licensing board to see if the company you’re considering is registered.
If a company doesn’t have any licenses or certifications, that might be a sign that they’re not qualified to help you with your taxes.
Communication and Customer Service
Picking a tax resolution service is about more than just numbers. You also want to find someone friendly and easy to work with. That’s why you should always ask how the company communicates with clients during your consultation or interview.
Will they provide regular updates? Are they available by phone or email? How often can you expect to hear from them?
Most importantly, pay attention to how they talk on the phone or in person during initial interviews and consultations. If their customer service is terrible when you’re trying to get their business, it probably won’t improve once they have your money.
The more responsive a tax resolution service seems, the better the chance of getting great results for your company’s taxes.
One of the best ways to get a feel for a company’s abilities is to look at its portfolio. A good tax resolution service will have a variety of case studies and examples that show how they’ve helped businesses in the past.
If you can’t find any information on their website, be sure to ask the company for some samples. This will give you an idea of what kind of work they do and whether it’s a good fit for your business.
No two businesses are the same, so you need a tax resolution service to provide personalized service. Look for a company that takes the time to learn about your business and understand your specific needs.
They should offer tailored solutions that fit within your budget and meet your timeline. If a tax resolution service is trying to sell you the same plan for every business, that will not be helpful for your company.
Picking Tax Resolution Services for Businesses
Don’t let your business get buried under a mountain of debt.
If you’re looking for tax resolution services that can help reduce or eliminate your company’s IRS debts, make sure to follow these guidelines when picking tax resolution services.
Need help resolving your company’s taxes? Bennett Financials is here to help. We specialize in tax planning, CFO services, and bookkeeping—all designed to help entrepreneurs keep more of their hard-earned cash.
Contact us today for a free consultation.