Posted by: Garcia & Cuadra, PA | January 29, 2018

Tax Services | Tampa

Tax Services | Tampa | Garcia & Cuadra, P.A.

With tax services from Garcia and Cuadra, you can rest easy knowing everything is taken care of as tax season rolls around. In reality, many Tampa businesses and residents sometimes have to scramble to get things in order as that time of year arrives. Hiring a professional to handle your taxes can help you avoid common mistakes and receive more tax benefits. While making a mistake on most forms would not be much of an issue, incorrect reporting of your finances can lead to expensive fees that compound, not to mention legal trouble. Attempting to maintain a small business is hard enough without worrying about audits and other notices from the IRS. Garcia & Cuadra, P.A. has years of experience helping those within the Tampa with their finances and accounting systems.

Though many people can advertise that they have the right tax services for you, they do not always pull through. With options such as representation by an Enrolled Agent, you can get the all-around care you need to keep operations running smoothly. Setbacks can not only stall the growth of a small company, but they can also destroy it. Without exercising any preventative measures or preparation, it can be a surprise to newcomers that they have things such as quarterly taxes to handle. Those under self-employment and businesses alike have to be sure to do things like report earnings and estimate income. Depending on how much you made in the previous year, you may not have to pay under self-employment. However, anything over $800 requires you to report your earnings to the IRS.

Common Issues with Taxes

The most common issues when it comes to reporting earnings are finishing it on time and knowing what exactly you need to do. Since most individuals just starting a contract position are unaware of quarterly taxes, they can fall behind. The convenient removal of taxes from your paycheck does not occur when you are under self-employment. It can be easy to assume that this means you just have to do it all at once. However, you instead need to do so four times a year. Catching up with your current situation and organizing your data for things like quarterly taxes only gets more comfortable with time and the guidance of professional tax services. There is also the issue of changes to existing forms and processes. The forms and way things like deductions function for individuals and businesses can change throughout a year. Due dates can shift, and instructions can change without notice, so having the assistance of an industry professional is essential.

Getting the Right Information For Your Situation

Knowing where to look and keeping up with IRS news is a significant problem for those without experience with taxes. While information is available to everyone on the IRS website, it is difficult enough to understand regulations without multiple changes. If you needed to report income but did not make enough, then you sometimes have to file a 1099-MISC form. But even this comes with stipulations. The IRS website has changed the process as recently as December of 2017. Also, Tampa residents who present the wrong variation of forms like the 1099-MISC can receive penalties. There are two copies of the form, and without reading the specific news post, it is easy to disregard. Tampa businesses in need of tax services to help their business grow can work with Garcia & Cuadra, P.A. to receive the critical legal representation they require.

Tax Services Available at Garcia & Cuadra, P.A.

Besides independent financial accounting, Garcia & Cuadra, P.A. offers many different services for individuals and businesses in Tampa such as:

  • Accounting system design
  • Tax appeals, audits, levies, and seizures
  • Financial statements preparation
  • Sales tax services
  • Financial planning and consultation

Whether you require representation or are looking for a better way to handle your financial accounts, Garcia & Cuadra, P.A. can assist you. If you are in need tax services in the Tampa area, then contact us at 813-415-2431 or by going online today.

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