Leading Business Accountant Pauline Ho Explains How To Avoid Potential Tax Pitfalls – Orlando, FL
Top accountant Pauline Ho founder of Orlando’s Laus Consulting Services LLC in Orlando, FL reveals major pitfalls people make based on tax filings and the damage they can have on a small business. For more information please visit https://lausconsult.com
Orlando, Florida, United States – January 31, 2023 —
Potential missteps in handling the tax filing process could leave business owners more out of pocket, warns Florida-based Business Accountant Pauline Ho.
For more information please visit https://lausconsult.com
The Founder of Laus Consulting Services LLC in Orlando has revealed some of the pitfalls people make based on tax filings, based on her vast experience and know-how.
She said: “Not filing a return at all, or filing late, can bring greater pressure further down the line in potential penalties and late fees. You could incur a greater financial loss simply by burying your head in the sand and not filing. So it’s best to stay up to date.”
A person could face added sales tax return nightmares if they utilize multiple income streams. Often states want sales tax broken down by county, city or tax district setting.
Another minefield to negotiate could be the different tax periods applied by individual states. Ho added: “They can leave someone completely confused and lead them to file the wrong sales details. If you have to file sales tax for multiple states, you will come up against states that want annual filings, others that want monthly or quarterly returns.”
“It can be easy to run into problems because of each state’s definition of a taxable period. So be alert to filing the right amount at the right time for the correct taxable period.”
“If you fall into this category, a licensed accountant is recommended as they can guide you through the issues and show you the correct sales tax to file.”
Even if you don’t owe any sales tax but file late, you could see your sales tax permit revoked and face criminal charges in more serious cases.
Rejected sales returns because of missed information and basic math errors are other common errors.
Ho concluded: “Rather than feeling defeated, overwhelmed or spending too much time on tax filings, an experienced professional accountant could be your best answer to ensure returns are handled efficiently and without mistakes.”
Name: Pauline Ho
Email: Send Email
Organization: Laus Consulting Services LLC
Address: 879 Outer Rd B, Orlando, FL 32814
Release ID: 89088469
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