As important as professionalizing one’s personal tax is, with regards to corporate tax filing, it becomes a much more critical requirement, with implications that have a very strong bearing over the survival of a business or indeed the profit margins. Corporate tax planning, preparation and the completion of corporate tax returns are all processes which are nearly impossible to effectively carry out internally as there are many dynamics which come into play.
Tax professionals generally have tailored solutions for various corporate tax filing requirements, with sole proprietorships, small businesses, property renters, partnerships, self-employed individuals and sales persons who work on a commission-only basis, generally falling under one service bracket, with the finer details of each specific case thrashed out during the consultation. The larger corporations also benefit immensely from having dedicated tax practitioners handling their corporate tax filings, simply because dedicated tax accountants make it their business to stay up to date with all the latest and even the smallest of changes in all tax laws, while internal accounting departments of such large corporations could miss a minimization trick or two as a result of their operational structure that is modeled around their core company fundamentals, as dictated to by that company’s business philosophy.
A specialized job such as corporate tax filing should be left to the specialists.