Support in Compliance Matters
Support in Various Federal, State and Local Compliance Matters
In today’s complex business climate, businesses face the challenge of complying with regulations and statutes from all levels of the government. It’s difficult to know which laws apply to your business and to satisfy the every changing regulatory requirements without any professional assistance. Booxmax’s professionals and its affiliates offer assistance with the following compliance matters:
- All tax related matters: Apart from preparing and filing federal, state and local tax returns, we also review prior tax returns for any unclaimed credit in the previous years and submit an amended return to receive a refund. Although businesses are not obligated to amend, if the deductions and credits you have missed out on are substantial, or if you discover that information was incorrect, we recommend to amend your tax return.
- Local and state business regulations: To lawfully conduct a business within the city, a business must acquire permits and meet regulatory ordinances. Depending on the nature of the business, it may also be required to comply with laws set by the State Contractor’s License Board and the Department of Consumer Affairs. We advise you on pertinent regulatory matters, file applications with local and state authorities/agencies as necessitated, and keep you up-to-date with changes in business laws that can impact you significantly.
- Obtaining and renewing city business license: If you plan to conduct a business in the city, you need a business license and pay a business tax annually. You may also need to interact with more than one City department. We can take over these routine but important start-up business imperatives on your behalf. Our team has assisted all manner of Los Angeles businesses, from independent contractors, professional businesses and service companies to manufacturers, wholesalers, retail outlets and home businesses.
- Audit defense: Getting a letter from the IRS or a state authority can be frustrating. Our CPAs have considerable experience serving as a communication proxy for businesses before tax authorities. Our professional representation is available whether you’re due to prepare for a new audit, in the midst of one and unhappy with your current CPA service, or if you want to appeal an audit. We review documents, negotiate the owed amount, minimize penalties and work out an installment arrangement to manage additional payments to the IRS.
- Changing or closing your business: If you will be closing or changing your business, you may need to contact and inform various local, state, county and federal government agencies, such as the Office of Finance, County Clerk, Employee Development Department, Department of Labor and Internal Revenue Service. We can meet closing requirements, file the final employment tax returns, and assist with the Statement of Abandonment, among other aspects of compliance.
Please feel free to contact us with any compliance related query you may have. We can work in collaboration with your team or represent you/serve as an extension of your business.