Relief for Business Tax Problems - Business Tax Help for Miami Business Owners
Launching and owning a business in Miami is hard, but it is especially difficult when you are facing business tax problems of any kind. As a business owner struggling with tax debt, you may feel that you are swimming alone in the ocean with tidal waves crashing on top of you. If you are a Miami business struggling to keep your head above water dealing with tax debt, business tax help is a short swim away! The business tax attorneys of Miami Pure Tax Resolution have successfully consulted hundreds of businesses to settle their tax dilemmas, and we can do the same for Miami business owners.
Common Business Tax Problems:
Payroll Tax Problems
If you owe past due payroll taxes to the IRS you will have to repay the initial amount with additional penalties, so it is important to act fast before the issue spirals out of control. Payroll tax debt usually arises when business owners use the money put aside for employee payroll taxes for other expenses, leaving a nasty situation brewing behind the scenes.
Worker Classification Dilemmas
Independent contractors generally are ideal for business owners as they eliminate the need to issue a W-2, so it can be tempting to classify workers as contractors instead of employees, even when they should be legally classified as W-2 employees. This problem or oversight is very common, yet the IRS will penalize you in any event. Whether you mistakenly or fraudulently misclassified your workers you must take action immediately or face severe penalties and a stressful business tax audit.
Overstating Tax Deductions
Overstating deductions is simply when business owners manipulate their tax returns to show tax deductions that aren't legitimate in the eyes of the IRS. If the IRS suspects that you are overstating your tax deductions they will issue a business tax audit, and instate hefty penalties if they find proof of overstated deductions. Overstating deductions, whether intended or not, is a serious matter that should be addressed immediately.
If your Miami business is facing any business tax problems, contact us immediately to avoid jeopardizing your business. We are available 24/7 and offer FREE consultations (786) 930-4048.