Posted by: Garcia & Cuadra, PA | January 31, 2018

How Can Financial Services Improve my Tampa Business?

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

Being a business owner in Tampa means more than being the head of a group working towards a common goal. Without help from financial services, many businesses may fail. Without professional support, business owners may fall behind in critical financial matters. Often, this leads to the business no longer being able to sustain itself and collapsing under dwindling finances. While this can be the result of just not having enough customers or revenue, it can also be because of fees and issues with reporting finances. The Internal Revenue Service requires that all individuals and business owners alike accurately report estimated earnings.

How Your Employment Type Affects Your Finances

Those who are categorized as self-employed must engage in estimated income reports and quarterly taxes. Those who are employed by businesses in a non-contractor position have their taxes removed as usual through their paychecks. As a contractor and business owner, it is up to you to keep track of these things. There are many stories of athletes and musicians who lose all financial stability. Often, it is not because they are out of money but because overdue payments have risen above their current lifestyle.

Even if you have thousands or millions within your account, the amount you may suffer from fees and compounding interest can be equal to your current revenue. Effectively, this can kill a business by requiring owners to liquidate assets merely to pay off dues. By taking the initiative and hiring a firm with experience in financial services, Tampa residents can better protect their investments and business matters.

What are Financial Services Exactly?

Managing finances requires a lot more than merely recording tax information. While many individuals may require help with tax preparation, working with a legal group like Garcia and Cuadra, P.A. in Tampa means you can receive assistance with financial services such as:

  • Tax preparation
  • Enrolled agent services
  • IRS representation
  • Retirement planning
  • Estate planning

If you own a business or are an independent contractor, then accounting and other financial services can be a lifesaver. Also, with tax preparation services, you do not have to worry about potentially being late on payments or hefty fees. Tampa residents and businesses can contact Garcia and Cuadra, P.A. today at (813) 415-2431.

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