Success in the business world is equal parts luck and planning but also requires a little help from business tax accountants. After all, if you can't afford to pay your taxes, how long are you really going to stay in business? You must ask the right questions including the following six queries.

1. Which Records Do I Need?

All businesses keep financial and inventory records. Thankfully, your accountant can help you decide which you need. These include tax returns, financial statements, balance sheets, general ledgers, and other important paperwork.

2. Can You Help Me in Tax Season?

March through April is often a chaotic time for many companies, especially those without an accountant. Ask what your team can do for you, including preparing your statements and avoiding audits. Get audit protection, too. You'll be glad you made this investment.

3. How Can I Avoid Bankruptcy?

Now, we're not saying that working with business tax accountants automatically protects you from bankruptcy. After all, according to the Administrative Office of the U.S. Courts, 2022 alone saw 387,721 bankruptcy filings. That said, protecting yourself with a financial professional can minimize your risk.

4. Am I Getting All My Deductions?

Deductions help keep businesses afloat by minimizing potential tax hits. What exactly can you deduct, though? There's the challenge: not everybody understands this point! Typically, you can deduct any expenses you use for business, including vehicles, offices, and equipment. Ask your professional whether your organization would qualify as being tax-exempt, too.

5. When Should I Pay Estimated Taxes?

We understand how it can feel like paying taxes is constant and overwhelming. That doesn't mean you have to get caught unprepared, though. Planning out payments like dividends, gains from stock sales, self-employment income, and interest earnings with your accountant can keep you safe.

6. What Can I Do to Make More Money?

Like every business owner, you're likely looking to maximize your profits and increase your annual revenue. Thankfully, a professional accountant can help you figure out ways to streamline your operation and make more money. Typically, it requires adjusting your budget, making smart investments, and working to cut down on unnecessary expenses.

No matter what kind of company you own or what size it is, you should find expert business tax accountants who can help you. Doing so helps keep your company well protected from tax dangers. Contact our team at Carpenter, Evert & Associates today. We are always standing by to help you with whatever you need!