AUCKLAND, NEW ZEALAND--(Marketwire - Oct 15, 2012) - Many American business owners, particularly small business owners, are growing increasingly concerned about what some are calling the "tax cliff." In the coming few months, many of the tax advantages that have long favored small businesses are set to expire. What this means for most small business owners is uncertainty, as there is no way to tell what their tax burdens will look like next year. In light of the pending tax cliff, many accounting professionals have spoken out about the damage this lingering uncertainty can do to businesses. This is not limited to American accounting professionals, but even those who hail from places like New Zealand; in fact, Auckland accountant Fergus Cleaver has issued his own press statement, commenting on the tax cliff and on the devastating effects that financial uncertainty can have on a business.
As the Senior Accountant for Cleaver Richards, Fergus Cleaver provides a range of accounting and tax preparation services to small business owners across Auckland. He is passionate about the important role that small businesses play in the New Zealand economy, and is similarly zealous about small business success in the United States. In his new press statement, Fergus Cleaver weighs in on the toll that uncertainty can take, and also suggests that a professional accountant can help business owners prepare for any contingency -- including higher-than-anticipated tax burdens.
"You need to make sure you have an accountant who has a solid understanding of the tax regulations which concern your business, if you want to give yourself and your business the best competitive advantage possible," advises Cleaver. The accountant goes on to say that without an accountant's help, business owners are left with a lack of certainty, which can in turn lead to imprudence. "Lack of certainty leads to indecisiveness and poor decision making," he offers.
Fergus Cleaver is hardly the only accounting professional to express misgivings over the extended "tax cliff" agony. According to Accounting Today, numerous accountants have testified before Congress, bearing witness to the effects the looming tax cliff is having on small business owners. Many of these accounting professionals note that business owners do not know whether they can depend on certain tax incentives any longer, which means they do not know whether they can afford to hire new workers or to grow their businesses.
Accountants are also noting that the "tax cliff" must be resolved sooner rather than later. If the issue is not laid to rest in the near future, the IRS will have to scramble to create new tax forms, and commercial tax software makers will have to revise their programs at the eleventh hour. This will prohibit business owners from filing their taxes in a timely manner.
Fergus Cleaver is an accountant based in Auckland, New Zealand. Known for his service to both business and individual clients, he serves as the Senior Accountant at Cleaver Richards. At this firm, Fergus Cleaver assists in providing business and personal services, as well as tax guidance. An established professional within the financial industry, Fergus Cleaver understands the importance of personalized service and the fact that every client has unique financial goals and needs.