How to Determine If a Tax Relief Firm Is Right for You

A sales tax audit has the potential to crush a small-business owner financially. In fact, according to a Tallman Insights Survey, the average cost of an audit penalty is $34,000. If faced with an audit, a small-business owner's best recourse may be to seek assistance from a licensed tax representative.

"There are myriad of tax relief firms that specialize in helping small-business owners get through such an audit," said Michael Raanan, president of Landmark Tax Group. "These firms will be able to identify any hidden credits and overpayments of sales or use tax, which can be applied to the audit liability, and also dispute any proposed items that may be assessed by the auditor."

Rannan suggests asking the following questions to determine if a tax relief firm is a good fit for your small-business needs:

·        How much experience do you have with a case like mine?

·        Is the person who will be handling my case licensed?

·        What results have you achieved for past clients?

·        What are your fees and how are they structured?

Source: http://www.manta.com/resources/tip-of-the-day/how-to-determine-if-a-tax-relief-firm-is-right-for-you/?utm_medium=Email_Marketing&utm_source=Newsletter&utm_campaign=TOTD&utm_content=TOTD_NewDesign2015&utm_term=18600&su=hq344mgu9vl41l