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If you run a business in Florida, you are undoubtedly familiar with the Florida Sales and Use Tax laws. After all, when you offer products and services for sale, you are liable to keep track of those sales and make the appropriate payments to the IRS. If you've been in business for years, you may know more about these laws than you want to, as it is not at all unusual for businesses of every size to go through an audit by the IRS. This is always a very stressful time for business owners, but it can be made more manageable when you have the help of a qualified Fort Lauderdale Accounting Firm on your side.

How can a Fort Lauderdale Accounting Firm Help During an Audit?

Ever business is different, and every audit is going to be unique, but there are some things that every business needs when a Florida Sales and Use tax audit is imminent. The first thing your business needs is to be scrutinized internally. Having good records that have been reviewed by your accounting firm is the foundation for surviving a tax audit. There may be details that got overlooked by in house staff, that a professional accounting firm will notice right away.

Identifying the gaps and offering the right advice on how to fill those gaps during an audit are just a few of the ways that an experienced accounting firm can help your business during a tax audit. Don't think that an audit has to mean trouble for your business, working with financial professionals is the best step you can take to keep your business protected, so that you can get past your tax issues and get back to business as usual.
 
 
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 Florida sales and use tax can cover so many areas of business.  I was tired of the every day monotony of working a daily job and decided to make a leap.  I was on the hunt for a home to remodel and resell.  Some of us call it “flipping”.  The real estate market was a buyers market and prices were red hot.  In searching on the web, I had come across a large property with a small 3 bedroom home that needed some work and it was under my price range so I went for it.

I was only required to pay less than $500 per month for my mortgage and so I took the remainder of my down payment and started work on the place.  It was in a small town and the local lumber company was just 3 miles away with the county clerk’s office just 5 miles away to take care of the tax deeds.  So, I set out to visit the appraiser’s office to ask some questions.  I found out that the properties in the area were having amazing deals and that I needed to grab up some additional land.

In continuing my quest for ending the 9-5 daily work schedule, I thought that writing tax deeds was the way to go.  I couldn’t figure it out on my own and maybe there was a company that would hire me to work from home so that I can arrange my own hours and not be stuck in an office.  This avenue I took in sales worked very well for me and it can for others.  If you are not able to do this, or do not have the desire, yet want to own property, contact a Florida sales and use tax team that can assist you.