1. How much taxes will I pay this year?
Of course, you’ll surely have to settle certain tax obligations before the year ends. It helps to ask your CPA what taxes you need to pay, and how your present spending habits can probably affect the final tax figures you’ll have to settle to avoid a Federal tax lawsuit.
2. Can I do something to cut my taxes significantly?
This is one question you should ask your CPA. Knowing the steps to lower your taxes, like donations to charity, can and will be of great help in reducing your taxes. There are several ways individuals and corporations can slash their taxes, and your CPA should know exactly which ones will work best for you.
3. How will changes in taxation laws affect me?
From time to time, tax laws and policies do get overhauled, while some are being created and implemented by the government. With this, you should not let yourself be caught off-guard. Ask your CPA’s advice on the recent and future policies that will have a direct bearing on your tax status and payments.
4. Can you rectify any error in my previous year’s income tax return?
Mistakes do happen, especially when it comes to numbers. If you happen to incorrectly declare your ITR last year, your CPA can make the necessary corrections so that you won’t have any problem with IRS.
5. What safety nets can I use to insure my business?
It’s important to know how you could secure your business interests. If you’re starting a company or just a small enterprise, you need expert advice on how to deal with the financial aspect of your prospective venture. Your CPA could help you with advice on the best practices that will guarantee your business survival.