When Should Businesses Consult a Tax Professional?
It is advisable for businesses to consult a tax professional at various stages of their lifecycle, including:
Startup Phase: To choose the most tax-efficient business structure and understand initial tax obligations. Growth Phase: To manage increased tax complexity and explore opportunities for tax credits and incentives. Mergers and Acquisitions: To navigate the tax implications of buying or selling businesses. Year-End Planning: To implement strategies that can reduce tax liabilities for the current fiscal year. Audit Notices: To handle any correspondence or issues with tax authorities proactively.