Business Tax Help for Fort Lauderdale Business Owners
Growing and maintaining a business in Florida is hard, but it is especially difficult when you are drowning in business tax problems. As a business owner struggling with tax debt, you may feel that you are swimming in the ocean with tidal waves approaching. If you are a Fort Lauderdale business struggling to keep your head above water due to business tax debt, business tax help is a short swim away. The business tax attorneys of Pure Tax Resolution have successfully assisted hundreds of businesses settle their tax dilemmas, and we can do the same for you and your business.
Common Business Tax Debt Problems:
Payroll Tax Problems
If you owe past due payroll taxes to the IRS you will eventually have to repay the initial amount with added penalties, so it is important to act fast before this issue spirals out of control. Payroll tax debt usually happens when business owners use the money put aside for employee payroll taxes and uses it for other expenses, leaving a nasty situation brewing behind the scenes.
Worker Classification Problems
Independent contractors generally are ideal for business owners as they eliminate the need to pay W-2 payroll taxes, 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 takes it very seriously. Whether you mistakenly or fraudulently misclassified your workers you must take action immediately or face severe penalties and a stressful business tax audit.
Overstating Deductions On Your Tax Filing
Overstating deductions is simply when business owners manipulate their tax return by stating deductions that don't really exist. If the IRS suspects that you are overstating your tax deductions in order to fulfill a larger tax return they will take immediate action against you and issue a business tax audit. Overstating deductions, whether intended or not, is a serious matter and not worth losing your business over.
If your business is facing any of these common business tax problems, contact us immediately to avoid jeopardizing your business. We are available 24/7 and offer FREE consultations (954) 357-3555.