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| The Importance of Outsourcing A Bookkeeper |
Large or small, consumer or industry oriented, reputable businesses must report their income to the appropriate government body during the appropriate time frames. Problem is, even a moderate sized company could find itself in the cross hairs of an Internal Revenue Service audit.
There are numerous things that could give the IRS reason to consider an intensive audit, but chief among them remains issues found within payroll.
Why is this the case?
All departments can find themselves backlogged and inundated with time consumptive projects. Problems arise however, when overworked, over stressed employees begin to overlook imperative details, especially in the realm of payroll tax filing and reporting. Clerical errors and mistakes in this realm happen under these types of circumstances, which greatly increase your company's risk for governmental intrusion and investigation.
Other common issues that can create a lax or problematic environment include:
Mismanagement in the Finance Dept – employees are the backbone of commerce but bad business practices, or simply hiring the wrong kind of candidates, can place you at risk for a tax audit. When business is mishandled at the employee level, an atmosphere of apathy and lowered morale can ensue as well. Keeping workers happy is paramount to success, and can be just as important as hiring individuals with knowledge and skill to effectively run the office. Still, even happy seasoned accountants can make the kind of recording mistake that cause IRS agents to knock on your door.
Increased Work Loads – Smaller businesses are especially guilty of the practice of heaping too much work onto one person. In an effort to save money however, this could cost you, especially if the employee in question is keeping you or out hot water with the IRS. Unfortunately, things like hiring freezes and budget constraints can make it near impossible to remedy the situation.
Bad record keeping habits – Everyone gets into the occasional rut and accountants are no exception to the rule. Problem is relying on ritual or lackadaisical bookkeeping may prove disastrous when it comes time for detailed audits. This concern is particularly troubling since established patterns means one may not be looking into new and innovative ways to solve problems. Coupled with the fact that the IRS changes their recommendations and filing requirements quite frequently, it pays to remain forward thinking in regard to payroll management and record keeping.
Probable Embezzlement – no business wants to entertain the thought that someone within their fold could willingly deceive them or do them harm, yet disgruntled or aggrieved employees can and often will bite the hands that feed them. In an uncertain world, it is often times best to have another pair of eyes perusing over your financial documents and files to ensure not only their accuracy, but authenticity.
GBC Tax Services of Atlanta has a number of trustworthy well vetted CPA’s on staff with the expertise needed to find potential problems before they become a force too big to reckoned with.
At GBC ,we pride ourselves on being problem solvers, looking at tasks with an eye towards finding solutions and eradicating the kind of imbalances that get companies flagged for IRS audits.
Indeed, outsourcing payroll audits may be one of the best ways to ensure your finances remain impeccable enough to stand up to IRS scrutiny. If you are still uncertain about your prospects in this arena, do a bit of intensive research and speak with someone in the know regarding the services of reputable accounting firms like GBC Taxes of Atlanta. Once satisfied, you should take that all important step of protecting you and your hard earned investments, today and well into the future.
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Call GBC Income Tax Services today at 678-366-9232 for all your tax and IRS needs!
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