It’s increasingly difficult to deal with taxes without the help of a corporate tax accountant. That’s because today’s business, legislative, and regulatory tax environment demands transparency and accuracy. Meeting those demands can be difficult when there are so many other areas of your business that require your attention.
With the right support, you can manage your tax information, forms, and various accounts with success. A few ways a corporate tax accountant can help include:
- Quarterly and annual tax provision calculations support
- Preparing white papers
- Tax accounting calculations for valuation allowances
- Outside basis differences
- Reinvested earnings
- Fixed asset reconciliations
- Analysis of uncertain tax positions
- And more
Keeping track of various transactions
The amount of documentation that’s needed when it comes to taxes is surprising, which means keeping track of, understanding, and applying that information to your tax situation is nearly impossible without the help of a professional.
There are a number of ways we can help you make sense of and document your expenses and income:
- Validating and preparing current and deferred tax balance sheet accounts
- Preparing calculations to support a tax provision restatement
- Tax provisions for dispositions
- Post-bankruptcy emergence
- Tax basis balance sheet support
- And more
No two tax situations are exactly the same, especially in the corporate world. Whether your tax accounting and reporting team needs a bit more support, or you’re looking for professional support for the first time, a personalized approach is a must.
A comprehensive approach is best when it comes to ensuring that every contingency is accounted for. Not only does this type of approach help ensure the success of your business, but it’ll also take away the burden of dealing with taxes on your own.
To learn more about corporate tax accounting for your business in Long Beach, or to learn more about our approach, give us a call at our Signal Hill office serving the greater Long Beach area.
Corporate tax accountant FAQ
Why hire a corporate tax accountant all year long?
When it comes to personal taxes, we seek out professional help once a year. Although you may feel like your business could save a bit of money by doing the same, you really need to hire a corporate tax accountant to deal with your finances all year long.
As mentioned above, there are many documents to keep track of when you own your own business. Maintaining and updating those files throughout the year is much easier than trying to assemble all the information you need at the end of the year when taxes are due.
A corporate tax accountant can also help you avoid a potential disaster. Instead of discovering a discrepancy or a problem with your finances and paperwork right before taxes are due, a tax accountant can help you discover the problem early so you can rest easier at tax time.
How do I find the right corporate tax accountant?
Because a corporate tax accountant is so vital to the success of any business, it’s important for you to take the time to find the right one. Treat your meeting like an interview and ask a few of these questions to determine if this particular accountant would be a good fit for your business:
- Have you ever represented a client at an audit? What strategy did you use, and what was the final result?
- Describe an example of a time when you saved your client time and/or money.
- What do you like most about being a tax accountant? What do you like least about being a tax accountant?
- If you were asked to do something unethical associated with a tax filing, what would you do?
- How do you stay informed as tax regulations change?
What if I’ve never hired a corporate tax accountant before?
A great corporate tax accountant doesn’t just support your business going forward into the future; they also provide you with assistance retroactively.
Whether or not you’re experiencing problems with your previous tax information, a good corporate tax accountant will make sure all your past ducks are in a row, and your corporate tax accountant should help make sure they’re in a row moving forward into the future.