Types of Companies Our Business Tax Accountants Work With Throughout Greensboro, NC and Beyond

Swaim & Associates

Full-Service Tax Advisors & Tax Accountants in Greensboro, NC

As a business owner, you already likely have enough to deal with without adding anything extra to your plate. Your different responsibilities likely leave you with very little time to dedicate to making sense of ever-changing and complex tax regulations, knowledge which is critical to helping you avoid tax problems. That’s where our business tax accountants at Swaim & Associates, who are based out of Greensboro, NC, but serve clients nationwide, come in. 

The tax professionals employed by our accounting firm are federally licensed enrolled agents (EA). This designation is granted by the U.S. Treasury Department to tax professionals who have successfully completed a multi-part federal tax law exam demonstrating knowledge in all areas of federal tax law and ethics. Tax professionals like us are uniquely prepared to provide tax services to a wide range of clients.

Understanding How Our Enrolled Agents Can Help Your Business

Our tax accountants’ EA designation is a national license issued by the U.S. Department of Treasury that authorizes credentialed professionals to:

  • Defend taxpayers being audited by the IRS or the State Department of Revenue
  • Representing taxpayers in tax collection cases who owe back taxes or who have not filed all of the required tax returns with the government
  • Appealing IRS decisions

Enrolled agents must adhere to U.S. Department of Treasury ethics standards and complete 72 hours of continuing education requirements in tax law and ethics every three years to maintain their certification.

What Types of Businesses Do Our Swaim & Associates Business Tax Accountants Serve?

The companies we serve come in all shapes and sizes. Some broader categories of businesses our accounting professionals and tax experts serve include: 

Small Businesses

What constitutes a small business is a bit subjective. Each of the following business types has the potential of being classified as a small business that may require you to file business taxes: 

  • A situation where you work as a self-employed, independent contractor or subcontractor
  • If you have a hobby business such as woodworking, soapmaking, or graphic design operation
  • You have a portfolio of rental properties
  • You own a shop or store
  • You sell goods on the internet
  • You receive a 1099 form for your work  
  • You have a weekend lawn care operation that provides you with supplemental income 

Also falling into the category of small businesses are more formally organized commercial enterprises that you may have built from the ground up and employ workers. Some common examples of traditional small businesses include: 

  • A print shop
  • A law firm
  • A restaurant
  • A convenience store
  • An auto mechanic shop

Medium-Sized Businesses

A business owner with multiple disparate business interests may also be considered the owner of a medium-sized enterprise, depending on the size of their workforce and revenue generation.

The point of sharing the types of operations that may fall into these small-business and medium-sized business categories is to give you a fuller picture of the different types of companies we work with. As you may imagine, these businesses can have a wide range of incorporation structures, some of which we’ll highlight below. Each has its own tax obligations.

Factors That Affect Different Companies’ Tax Obligations

Given the different types and sizes of businesses we serve, there’s no one-size-fits-all approach our tax advisors use when assisting our clients. Some factors that shape the tax strategies we recommend for different tiers of businesses include some of the following: 

  • The size of their staff
  • Their gross receipts and, consequently, their net operating profit

Since businesses have different tax advisory services needs depending on the above-mentioned factors, the help they require from our business tax accountants may also vary. These businesses or corporations may require tax consulting on some of the following:

  • Determinations of estimated tax for quarterly payments 
  • Qualifications for a tax credit
  • Year-end tax filing

One factor that plays a role in the tax obligations of different-sized business entities is the multitude of legal entity structures those operations may have. These may include sole proprietorships, partnerships, limited liability companies (LLCs), S-corps, C-corp, and others — some of which have pass-through filing along with the owner’s personal income taxes. A company’s legal entity structure may not only impact tax-filing obligations but also impact tax rates.

While we can certainly help with all aspects of tax planning, preparation, and filing, as hinted at above, we defend clients in IRS audits as well.  

Each tax pro at Swaim & Associates is also well-experienced in providing IRS audit representation services that can be helpful if you fit into one of the aforementioned categories of businesses.

IRS Audits and Collections

Dealing with the IRS if you and/or your business are dealing with IRS problems can be intimidating and overwhelming, especially if you and/or your company have an audit or collection action. We have the experience and knowledge to help you navigate the process and protect your interests. We will represent you in IRS audits and legal disputes with an auditor regarding any potential tax increases proposed or penalties assessed and work to find the best solution for your business.

Testimonials From Satisfied Clients Who Have Used Our Business Tax Accountant Services

When it comes to choosing someone to handle your finances or tax matters, you don’t want to just pick anyone. You want to know that your tax obligations and advocacy are in competent hands. 

We’d urge you to review testimonials that other business owners have left about their experience in having our Greensboro business tax accountants handle their financials and taxes on the testimonials page here on our website. At Swaim & Associates, we are proud of the positive feedback we have received from businesses we have worked with.

Contact Our Business Tax Accountants Today to Set Up a Consultation

If you’re looking for experienced business tax accountants in Greensboro, look no further than Swaim & Associates. Our team of tax professionals is here to help your business with all of its tax needs. Contact us today to schedule a consultation and learn more about how we can help.