Welcome to Tax season! This can be an overwhelming and challenging time for individuals and companies all over the world. Especially if you don’t have the experience and knowledge to tackle it. Don’t worry, Equity & Help is here to help!
It’s time to get all your tax documents together and file your taxes to avoid any unexpected surprises. In the United States, everyone is obligated to pay taxes by April 15th, and failure to do so can result in penalties, fines, and even jail time.
The US tax system is complex and often confusing. To help clarify this, taxes are divided between federal and state taxes. Federal taxes are sent to the Internal Revenue Service (IRS) while state taxes may or may not exist, depending on the state you live in. Each year, you’ll get an updated form from the IRS which outlines the amount of income tax you owe, as well as other forms that include items such as deductions or credits.
If you’re late filing your taxes, the IRS will impose a penalty. Depending on the amount left outstanding, the fines can range from an additional 25% to 75% of the original tax amount. Additionally, you may also face criminal penalties for fraud or misrepresentation.
While tax preparation may not be one of our services, we are committed to finding the most experienced tax specialists who can help you with all of your tax questions and needs. We have access to certified professionals who understand the latest tax laws and regulations, so you can rest assured that your taxes are in the very best hands.
No matter the complexity of your filings, we can find you the right specialist who can offer the most reliable advice and service when it comes to taxes.
Whether it’s your first time filing taxes or you already have some experience in the field, no matter how complex your needs, Equity & Help is here to provide you with the best guidance and support for your taxes.
All you need to do is provide the specialists with your company’s financial data in an Excel format that they will provide you with and they will take care of the rest!
We also remind you to keep your company’s renewal up-to-date every year. This is the perfect opportunity to make any changes needed, such as address, registered agents for example. As a bonus, you’ll also receive an attached Word document with all the necessary information on expiration dates, fines, and extensions. (If you don’t have a company but want to start up one, we also have a person that we can refer you to!)
Working on Excel is straightforward–just enter the annual total amounts for income and expenses and make sure that the expenses are organized by item.
Take the worry off your shoulders and let us handle your taxes this year!