A group of tax professionals who have deep and diversified tax experience, a passion for technology, and the desire for helping others. We created Bullseye Tax Relief as a platform for helping businesses and individuals with their tax problems.
Most people do not consider their actions as having any consequences. Just act and if it goes wrong, fix it then. That is not the best method of dealing with life, especially when the stakes are high. Trying to press on the “pause button” or trying to “reverse gears” can make matters worse. Sometimes, it gets very costly to fix. Such is the case when it comes to taxes. True, you can always file an amended income tax return, but will that trigger an audit or an assessment for a Trust Fund Recovery Penalty (TFRP) or other assessment (5.19.14 Trust Fund Recovery Penalty (TFRP) | Internal Revenue Service (irs.gov))? Avoiding tax problems before they start is the best advice. This is simple. Just follow the rules and document, document, document. Consulting a tax professional will not hurt either. The rules are simple:
Tax law is complicated. Hiring a tax professional saves time and money. Tax professionals can advise you as to what actions you must take to limit your tax liabilities. Sometimes this advise or strategy can take a while to put into place or before benefits are apparent. For example, is it less expensive to buy a Xerox machine or to go to the neighborhood copy place? You must factor in your time and expense in leaving your place of business and going to the copy place. Then you must consider what time and money it cost you to leave your business during that time. You could have been completing an order to generate money for a service. Next, you must decide if the price of the Xerox machine and its maintenance minus depreciation annually is more or less than the cost of using a copy place. Only a tax professional can answer that. The experts at Bullseye Tax relief can help you determine the answer to the above situation. They can also ensure that you do not “overpay” your tax bill. Call them today! The post Avoid Tax Problems Before They Start – Part 1 appeared first on Bullseye Tax Relief. Via https://www.bullseyetaxrelief.com/avoid-tax-problems-before-they-start-part-1/
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