We want to address our busy businesses that have struggled to meet the tax filing deadlines. Maybe this is the first time, or it’s become a habit, but you can’t seem to get your taxes in by April 15th.
And here we are again! You filed an extension and are scrambling to meet that deadline to avoid fines. What an anxiety-ridden, time-sucking problem to have. And seriously, we don’t judge. Because everyone struggles with something. Our own CPA team can have specific tasks they put off until the last minute, like shopping for holiday gifts or watering our plants. Nobody is perfect at everything! If you are looking for a CPA firm in San Francisco that can file amended returns, or even late returns – we can help. We can’t do much on the penalties that you may incur (those are the laws), but we will do our best to get you the “best deal” possible with the IRS and with California’s FTB.
One thing we take pride in is managing business tax projects to perfection. As a top CPA team in San Francisco, we understand the struggles company and startup leaders experience. Such as handling a highly involved R&D project or setting up a new location and hiring staff to fill it. There are regular meetings with banks and venture capitalists. Not to mention the daily emergencies that you can’t always predict, such as a shipment from overseas running late. These are all very important projects, and end-of-year tax filings keep getting pushed to the back burner. Then April 15th arrives, and you wonder where the time went!
If it helps, you are not alone. The Franchise Tax Board notes that approximately 10 million businesses file tax extensions with the IRS each year. And they can get a 5 to 7-month extension depending on their corporate status. But do you really want to do that? Then, you are juggling two tax filings, and that can be problematic.
Step away from Groundhog Day and contact our CPA team
When a business leader continues to miss meeting the tax deadline, it may seem a bit like the old film, Groundhog Day. If you’re not familiar with the movie, Bill Murray’s character ends up living the same day over and over and over again. He does everything he can to cope with this situation until one day, he finally changes it and improves the rest of his life. It’s a comedy classic!
Don’t you wish you could go back and spend more time on your business tax filings so your company doesn’t end up in trouble with the IRS? Lots of people probably do, but this is the real world, and we do not get to relive the moment that placed us where we are today. As a business leader, you can do the next best thing: contact our Safe Harbor tax advisors. Our CPA’s will take a look at where you are at right now and get to work putting your business in a better position with the IRS. We’ll discuss the penalties for missed filings and analyze the tax situation. After helping you finish your late tax filing from last year, we can offer support and advice throughout this year to help you meet the next tax deadline.
Another benefit to working with our CPA team is that while we are focused on your business taxes, you can pay attention to all the other important projects requiring attention.
