They say that the only true mistake a business owner can make is not asking for help when necessary. For example, you may need business financing help when your company owes taxes.
Getting business financing help when your company owes taxes is not a sign of failure. It shows you are smart enough to make the right decisions and save your business. Once you learn more about your options, you can choose which one will work best for you.
The Dangers of Not Getting Business Financing Help When Your Company Owes Taxes
The Internal Revenue Service (IRS) is not an organization to mess with. It’s vital to get help from professional accountants. This will help to ensure you are claiming the right deductions and classifying employees correctly.
One of the worst things you can do is ignore paying your business taxes. This will make your tax debt grow and lead to interest and penalties.
Additionally, the IRS can seize your assets and effectively shut down your business. This includes your business accounts, inventory and even furniture. They also have the power to padlock your doors and prevent you from operating until the debt is paid.
Thankfully, time is on your side, but only if you act quickly and employ the right strategy. You should be cooperative, ask for a payment plan, and then get fast business financing right away.
Where to Go for Business Financing Help When Your Company Owes Taxes
It always surprises business owners when they owe taxes at the end of the year. If you had a good 4th quarter, that’s great. However, this may also serve to complicate your tax situation. The problem occurs because a successful 4th quarter usually means that you have a lot of cash out in accounts receivables. As a result, when tax time comes around, you often don’t have the cash on hand to pay your taxes.
Financing Solutions (www.financingsolutionsnow.com) knows that if you don’t have the cash on hand it doesn’t mean you are a poor business person or lack the right financial skills. In fact, it often means just the opposite.
At Financing Solutions, they typically see a large upsurge in companies needing financing or a line of credit this time of the year. For that reason, they understand the pressures faced by small business owners and they are willing to help.
Unlike a commercial bank, they can turnaround your request in 24-48 hours. This will allow you to handle your tax issues with immediate business financing and then get back to growing your company.
Three Important Things to Remember When Your Company Owes Taxes
1. Learn your rights. For instance, you don’t have to face the IRS alone. You can have representation. In addition, if you don’t like the way you are being treated by an IRS professional, you are allowed to stop the interview or ask to speak with a supervisor.
2. Sometimes mistakes are made. Keep your own records and don’t take the IRS’ word on how much you owe.
3. You do have options. The best thing you can do is to get instant business funding from Financing Solutions to pay your business taxes and handle the IRS.