Most businesses dread tax deadlines and struggle hard to stay on top of all taxing issues throughout the year. Partnering with one of the best accounting firms in Renton, WA is the best solution to deal with all types of tax-related issues.
Read on to find out the top five accounting issues that can be easily taken care by hiring the right accounting firm.
1. Mathematical errors
The IRS reports that dealing with math errors every year is one of their most common issues. The accounting firm is completely aware of this point and is always keen to decrease the likelihood of errors with numbers. Every digit is checked and re-checked and potential math errors are eliminated.
2. Inaccurate information about donations and charities
Every donation made must be accompanied by the right receipts. The chartered tax accountant in Renton, WA keeps track of all donations made through the company and ensures that the donated amount is 100% tax exempted. If the donations are made in the form of materials, then their market value is estimated by the consultant.
3. Unwarranted penalties
Documenting every income source and expense is important for tax filling. Failing to do so can push the company or the individual to pay penalties. The tax consultant ensures that all tall transactions are documented appropriately and the risk of an audit is minimized.