September 23, 2015
Midsize Business Tax Preparer in Chicago Illinois
One of the interest truths that I see is when a midsize business owner or manager comes in for an initial complimentary consultation. You would not expect their tax returns to be as messed up as the smaller clients returns. After all, they have competent CPAs doing the work. Their tax returns and financial statements should be immaculate.
Most of the time the work that I see on larger companies is worse than the work done on smaller ones.
Larger companies have more complicated balance sheets. Many times the transactions, by their very nature are rather difficult to understand. Sometimes the tax law is even less reasonable and archaic. As such it is much more difficult to do an auditable tax return for a midsize business.
Why is this so important? Because larger companies get audited more often than smaller ones.
It takes taxation agencies almost just as much time to audit a smaller company as it does a larger one. Where is their time going to be better spent? Who will they potentially collect more revenue from? The larger company. Who will actually have the ability to pay the additional taxes, interest, and penalties? The larger company.
Most of my larger companies come to me after receiving a large tax bill that was the result of an audit.
If you have any questions at all, about the accounting or tax work being done on your behalf, please take the time to do a complimentary consultation with us.
If you are having problems with your Midsize Business Tax Preparer in Chicago Illinois or have issues with your accounting in general, we would love to help. I enjoy hearing from my readers, and can be contacted at
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Chris Amundson is the President of Accounting Solutions Ltd., a full service public accounting firm of Certified Public Accountants and Enrolled Agents handling the bookkeeping, accounting, tax preparation, and audit representation needs of Businesses, Estates, Trusts, and Upper Income Individuals.
September 23, 2015