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Closing out Fiscal 2013! The burden of tax code compliance.

By
Real Estate Broker/Owner with Richard Weisser Realty

Closing out Fiscal 2013 by Richard WeisserIt’s the end of January 2014 and the last of my 2013 quarterly returns and tax payments have been filed with the appropriate revenue agencies.

Tax compliance is one of the responsibilities of every business owner. It can be burdensome at times as the level of complexity of revenue codes seems to have consistently increased over the last few decades.

But if one chooses to aspire to “being their own boss” then one must also be prepared to accept the responsibilities that go along with it.

Many consider compliance to be a mere distraction from the day to day operation of a business.

But it is much more than that:

 

As a matter of fact, the long term survival of any enterprise depends on it!

Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Real estate is a business. Starts and finishes with the premise. Good luck bean counting. Crossing those T's and dotting those I's.

Jan 30, 2014 10:21 PM
Peter den Boer
Atlanta Communities - Woodstock, GA
MBA,GRI, Associate Broker, Realtor

Richard - I missed a tax payment once. Just completely forgot. Well, won't do that expensive mistake again!

Jan 30, 2014 10:29 PM
Tom White
Franklin Homes Realty LLC (615) 495-0752 or www.FranklinHomesRealty.com - Franklin, TN
Franklin Homes Realty LLC, Franklin TN

No one hates paying those taxes more than me! But...I hate even more those nasty scary letters from our government friends.

Jan 30, 2014 10:57 PM
Debbie Malone
Londeree's Real Estate & Property Management - Lynchburg, VA
From Lynchburg To The Lake (434) 546-0369

That's one of the main reasons we hire an accountant. We keep good records, gather all of our documentation and hand it over. I can't even tell you how many times we have received that intimidating letter from the IRS.

Jan 31, 2014 02:20 AM
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Many times people use more time and energy to comply with the regs than if they just did them

Jan 31, 2014 04:05 AM