During the COVID-19 pandemic and times of economic uncertainty, lucrative tax benefits could make a difference in the future welfare of a business.
The current Coronavirus crisis has business owners in a financial predicament as businesses have closed down until state governments decide to open doors. The timeline for these mandates are uncertain, and until then, many company owners are waiting in the wings while their monthly expenses persist.
In response to the COVID-19 pandemic, the IRS announced a national tax extension to July 15, 2020. This move was an effort to offer financial assistance for millions of citizens and businesses who need to delay their tax filing and payment.
The tax extension is a key relief effort that business owners can take advantage of. In addition to the tax extension, hiring a quality tax group to analyze the company’s potential tax benefits can make the difference between financial certainty and financial struggle.
What should you look for when selecting a quality tax group? Consider the following:
- Has the tax company worked in your state? Tax benefits vary from state to state, so it’s important to hire national tax experts that can work within a variety of state and federal constraints to maximize your benefit.
- Does the tax group have specific experience in your industry? Some businesses will benefit from credits, while others should apply for a more itemized approach. Ask your consultant which is best for you and why.
- Is their online reputation positive? Knowledge is important, but service is key. Hire tax experts that can lead you step by step while navigating the complexities of your business returns.
National Tax Group has worked with business owners all over the country, and our specialists are familiar with the intricacies of each state’s tax laws. Moreover, we create a customized approach for each client to maximize your tax benefits and provide the best service possible. Read our testimonials to find out more about our clients’ positive experiences working with our team of experts.
Many companies qualify for significant tax savings for the activities they are already doing; owners simply don’t know how to leverage this work into cash flow. To ensure you are receiving the tax benefits that are owed to you, call National Tax Group at (561) 257-3436 for a free initial consultation. We help businesses succeed by strategizing the best approach to their taxes.