5 Simple Tax Tips for Individuals and Small Businesses in New York, NY – Avoid Stress, Save Time and Money

Metro Area- New York City, New Jersey

If you’re in New York City or New Jersey or if you are running a small business in these metro areas, probably you are aware of the words “IRS” and “tax” and what they mean. For many individuals and small businesses in New York and New Jersey these words may mean stress and waste of time and money. However, with expert advice from an expert IRS licensed enrolled agent; you can avoid the stress as well as save your money and time.

The following five simple tax tips will help individuals and small businesses in New York and New Jersey metro areas to handle text matters better-

1. Be Careful

always try to avoid common problems. Most often some problems are found in filling the forms and in the communication done with IRS. Look for problems like illegible hand writing, calculation errors, missing signature and transposition of numbers etc. and try to avoid them. Even though these look like pretty small problems, but they can result in huge cost and waste of time.

2. Organize Yourself

if you are smart and clever, you will always organize your papers and information before time. If you organize your papers now, it will save you lots of time in future and will also save you from the headache of organizing papers just before filing the tax. For example, if you organize your expenditures by category, time and vendor wise, it will help you to do faster text filing.

3. Timing Cash Flow

you should manage the timing of your cash flow, if you want to save some money. It is possible to defer the income to the next year and add the deductions in the present year. It will lower your taxable income and thereby reduce the tax payable to IRS. However, an expert professional IRS licensed enrolled agent can help you better with his expertise. It may not be possible for you to timing exactly as you do not know the technical details of tax and related issues.

4. Ask for Help

you need help in tax representation and preparation because it is a technical matter. It is better to ask for professional help and advice. What you need is a professional tax lawyer, enrolled agent or CPA who has enough experience of handling IRS tax matters.

5. Don’t try to save on an expert tax enrolled agent

not hiring an expert tax enrolled agent will save you some money but any mistake in the process may cost you many times of the amount you save. Hiring an expert tax attorney, EA or CPA is a very small annual investment to solve your problems like IRS problems, Payroll tax problems and help you during IRS tax audits.

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