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Small Business Tax Preparation

Professional Small Business Tax Preparation in Anne Arundel County

Severn small business tax preparation expertWhen your small business needs expert tax preparation assistance, Conkling Foster CPA, LLC provides the knowledgeable support you deserve. Our dedicated CPAs hold themselves to high standards to provide you with attentive, reliable, and personalized service. We'll take the confusion out of tax season by simplifying complex tax concepts into easy-to-understand terms.

You deserve to work with tax experts that are genuinely invested in your company's success. We enjoy taking the time to get to know you on a personal and professional level. We'll work closely with you to assess your tax needs, craft a personalized strategy, and handle any filing that's needed. Our Anne Arundel County business tax accountants are eager to meet you, so give us a call today to schedule your free consultation!

Call Us: 410 761 7522 Book a Consultation

5 Benefits of Outsourced Tax Preparation

Running the day-to-day operations of your company is challenging enough without having to worry about taxes. Even when you find the time to prepare them, it can be unclear whether you're handling them correctly. Outsourcing your tax preparation provides numerous benefits and could be the right fit for your company. Some advantages of professional business tax preparation include: 

Increased efficiency

Data collection may be the most time-consuming aspect of tax preparation. Typically, you spend so much time collecting the necessary income statements, balance sheets, depreciation schedules, and other documents that when you've finally gathered everything, you're exhausted. Tax experts understand where to look and how to pull required information quickly and accurately.

Tax laws are constantly changing, and it can be confusing to understand what changes apply to you. In Maryland, state-level and national tax laws are similar, but the minor differences can significantly impact your company. By outsourcing your tax preparation, your taxes will comply with local and federal laws without you having to do the research.

Each year during tax season, small business owners accidentally expose valuable information electronically. Accounting professionals utilize protected software that ensures the secure storage and transfer of sensitive information.

As a small business owner, it can be challenging to set aside the time to prepare and file your taxes. Whether you're trying to find a specific receipt or making sure that you haven't missed the deadline, there's a lot that goes into tax preparation. When you outsource your tax preparation to professionals, you're getting back countless hours that you'd otherwise have spent away from your company.

Although small business owners need tax preparation assistance, they ultimately want to save as much money as possible. Outsourcing your tax preparation allows you to save money that you would have otherwise spent on a big box tax firm.

How We Can Make a Difference

Severn CPA firm helping small businesses prepare taxesOur CPA firm is passionate about helping small business owners feel comfortable and confident about their taxes. We place a firm-wide emphasis on not only providing our clients with excellent services, but also taking the time to explain what we're doing every step of the way. If you have any questions for us, we're happy to answer them.

Our Anne Arundel County business accounting team combines tax experience with dependable service that you can rely on year-round. We'll develop a strong relationship with you built on results and trust. If you're looking for professional tax preparation with a personal touch, we're the company for you.

Industries We Serve

At Conkling Foster CPA, LLC, we've had the privilege to provide tax preparation services to small business owners in a variety of industries. Regardless of a company's nature, there are crucial industry-specific differences that can affect their tax returns.

Our business tax accountants in Anne Arundel County understand your field's unique tax landscape and regularly stay up to date with changing tax laws and their implications for your company. Some of the industries we serve include:

  • Healthcare
  • Construction
  • Information Technology
  • Government Contracting
  • Service & Hospitality

State vs. Federal Tax Compliance

Tax compliance is critical for the success of any company. For you to be tax compliant, you must be aware of state and federal tax laws governing your operations. Tax compliance failure can result in severe consequences like penalties and fines. There are some crucial differences between the two tax types that can prove essential during filing.

Federal Compliance

Severn tax specialist meeting with business ownerTax compliance at the federal level runs through the IRS. If the IRS suspects that you're non-compliant, there are several ways that they can examine your books and records. Our Anne Arundel County business tax accountants are experts in federal tax law and will work to make sure your tax filings meet national standards. Some of the more prominent areas where companies face federal non-compliance include:

  • Business income tax
  • Employment taxes
  • Self-employment tax

State Compliance

State-level tax compliance can be tricky. Each state has different laws that affect your company based on factors such as entity selection. We'll review your entity type and guide you if a different selection may be more beneficial. Maryland tax non-compliance can involve:

  • Corporate income tax
  • Personal income tax
  • Business tax credit, such as Apprentice Employee Tax Credit, Qualified Farms Tax Credit, and Qualified Veteran Employees Tax Credit

Anne Arundel County Tax Accounting for Small Businesses

When it comes time to file your company's taxes, you can trust our team of Anne Arundel County business tax accountants to guide you through the process step by step. We're passionate about providing your small business with trusted tax preparation year-round. During the hectic months of tax season, our hours are extended to accommodate you better. Give Conkling Foster CPA, LLC a call today for your free consultation to discover how we can help you!

Call Us: 410 761 7522 Book a Consultation

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