In the end, everything comes down to saving money. The job
of the auditors of the Department of Revenue is to try to get you to pay the greatest
amount of money that they can legally assess.Sometimes their methods result in amounts that are greater than what you
may actually owe them.
The Business Tax Institute will insure that by using our
knowledge of the law, statistical sampling, and audit procedures that your
audit will result in the lowest reasonable amount of tax owed.
For example, The Business Tax Institute represented a bar
under audit.The initial assessment from
the auditor yielded a $250,000 tax due.The auditor used a rule allowing a tax rate of greater than that
established in the law.Our knowledge of
prior decisions and court cases allowed us to establish a legitimate unique tax
rate for that business.The end result
was a five-year deficiency of under $30,000.That's 12% of the original assessment!
WE SAVE YOU TIME
As a business owner, you already know that time is
money. You have better things to do than
to entertain an auditor for weeks on end in your place of business.Your employees also have more important work
to do. The average audit will require
from 40 to 100 hours of one-on-one time, face to face with the auditor.In addition to that, there will also have to
be time spent preparing information and making calculations.We estimate that these duties eat up another
50-75 hours of the average business owner's time.
After one of our clients and his accounting staff had spent
six months with an auditor in his place of business for one or two days per
week, and after the auditor assessed a tax due of $80,00, we were called in.We spent an additional fifty hours, and the
audit resulted in a $10,000 refund due.If we had been involved from the beginning, the audit would have
required only our fifty hours and there never would have been an assessment
made. Think of the heartache that man
could have saved himself if he had known to call The Business Tax Institute at
the beginning of the audit!
CALL US TODAY FOR A FREE CONSULTATION (386) 736-7001
