Tax Accountants Are Preparing for the Busiest Time of the Year

Being an accountant is not for everyone, but that is why professionals with these skills are in such high demand. From the smallest businesses with only one employee to large corporations with hundreds of different accounts, there are a number of jobs that need to be filled by experienced and licensed accountants. With tax codes that are changing every year, for instance, it is impossible to know what the latest deductions and expense allowances are if you are a business owner. The fact that most business owners want to be able to focus on their products and their employees means that it is often in everyone’s best interest to outsource the accounting needs to a professional firm.

Businesses of All Size Continue to Look for the Best Accounting Solutions

The best accounting services can help your business succeed. From real estate accounting for a landlord who owns many properties to tax accountants who help investors accurately predict and prepay their end of the year fees, it is often in a company’s best interests to make sure that they outsource these important tasks. By filing correctly the first time and avoiding fees, for instance, a business can most efficiently prepare not only for end of the year tax requirements, but also year round withholdings.

Although tax information can vary from one location to another, consider some of these complicated specifics about the tax industry in New York City and the impact that it has on the nation’s economy:

  • For the sixth straight fiscal year, the market value of property in New York City in 2017 increased.
  • 45% of all tax dollars collected in NYC in the 2017 fiscal year were from property taxes.
  • Representing a 9.8% increase from 2016, city-wide market value of taxable property in the 2017 fiscal year grew beyond $1 trillion.
  • The Department of Finance collects more than $35.8 billion in revenue for NYC.
  • As of 2017, New York has a personal income tax rate that ranges from 4% to 8.82%.

Working with a qualified and experienced tax accountant can help protect your business, so it is essential that you work with an individual or a firm that is knowledgeable about the laws and requirements in your area and in your business.