Small, independently owned and operated businesses are incredibly important to the success of the local economy. Although they are not offered the same incentives and tax breaks larger companies qualify for, there are many ways to optimize your small business’ financial growth through superior bookkeeping and tax preparation services in Austin and elsewhere. Whether your business is in its early stages of development or you’ve been running an independent business for many years, finding the right partner to guide you through small business accounting is imperative to the success of your company.
Avoid the common mistakes
Most people don’t realize that many of the expenses they incur before their doors are open for business can be deducted from their taxes once the business is operational. Start-up costs can even include time and travel for researching the industry, advertising, and consultant fees, among other things. It’s little mistakes like this that throw new business owners into debt from the very start, when they could use these expenses as deductibles.
Many established mom and pop shops overpay their taxes year after year, or make costly mistakes in the way they track expenditures and report to the tax authority, because the tax code is convoluted and constantly changing. When a small independent company goes under, it’s often the case that just a little guidance on how to best manage their books plus good tax advice could have saved them from struggling years before.
The support you need.
Escobar & Associates, a proud local family business ourselves, has spent decades providing excellent service and financial recommendations to our clients, in order to help their small area businesses succeed. Our exceptional bookkeeping will keep your books in great order, while helping you learn more about best business practices. We can also show you how to maximize your profitability by analyzing your expenditures properly. Our tax preparation services, run by our in-house tax experts, will ensure you’re filing correctly every time, while looking for deductions you may have been missing over the years. We can also give you advice on how to save more money on future returns. Are you already in the unfortunate position of having some trouble with the Internal Revenue Service? We employ IRS enrolled agents who specialize in resolving outstanding tax issues.
“Mom and Pop Shops” are the backbone of the economy in the State of Texas. Escobar & Associates has been open for over three decades, and there is no question- we could never have come this far without the relationships we have built within our community, helping local business owners make good decisions. If you need bookkeeping support, tax preparation, or other assistance in Austin, Texas, or beyond, contact us today for a consultation. Our success story is built on the foundation of our clients’ success.