When it comes to managing your small business finances, navigating IRS requirements and staying on top of tax deadlines can be overwhelming. With frequent changes in tax laws, quarterly estimated payments, employee withholding, and ever-growing compliance demands, working with a trusted tax advisor in San Antonio isn’t just helpful—it’s essential.
Whether you’re a new entrepreneur or a seasoned business owner, the time to get expert tax help is before the IRS comes knocking. The right guidance today can prevent penalties, maximize deductions, and set you up for long-term growth.
Understanding IRS Deadlines for Small Businesses
Key Filing Dates You Can’t Afford to Miss
The IRS sets multiple tax deadlines throughout the year, and missing even one can lead to interest, penalties, or worse. Here are a few major ones to keep on your radar:
- January 31: Deadline to provide W-2s to employees and 1099s to independent contractors.
- March 15: Tax filing deadline for S-corporations and partnerships (Forms 1120S and 1065).
- April 15: Tax filing deadline for sole proprietors and C-corporations; also the deadline for first quarter estimated tax payments.
- June 15, September 15, January 15 (following year): Deadlines for the remaining quarterly estimated tax payments.
Each of these dates can bring confusion, especially if your business has multiple income streams, employees, or specialized deductions. A local expert familiar with Texas tax regulations and San Antonio’s small business landscape is invaluable.
Why Tax Planning Matters More Than Tax Filing
Many small business owners only think about their taxes once a year—when it’s time to file. But that reactive approach can cost you thousands in missed deductions, unprepared payments, and IRS scrutiny.
Proactive tax planning throughout the year ensures:
- You’re setting aside the right amount of money for quarterly estimated taxes.
- Your business structure (LLC, S-Corp, sole proprietorship) aligns with your financial goals.
- You’re taking advantage of available deductions such as home office expenses, mileage, and equipment depreciation.
- You’re aware of upcoming law changes or incentive programs you may qualify for.
Lien Phat & Co Tax Advisory doesn’t just plug numbers into a form. We develop tailored tax strategies to help your business thrive all year long.
Common Tax Mistakes San Antonio Small Businesses Make
Even the most diligent entrepreneurs can make costly tax errors. At Lien Phat & Co Tax Advisory, we’ve seen it all. Here are some of the top missteps local business owners fall into:
1. Misclassifying Workers
Confusing employees with independent contractors can trigger audits and hefty back taxes. The IRS uses strict criteria to determine worker status, and getting it wrong can land your business in hot water.
2. Neglecting Estimated Tax Payments
Failing to pay quarterly estimates—or underpaying—can result in IRS penalties and surprise bills. A good tax advisor will help you forecast income and calculate accurate estimates.
3. Failing to Keep Adequate Records
Messy or incomplete bookkeeping makes it difficult to claim deductions or defend your return in an audit. A paper trail of income, expenses, and receipts is essential.
4. Choosing the Wrong Entity Type
Each business structure has its pros and cons when it comes to taxation. Many small businesses in San Antonio are overpaying taxes simply because their structure doesn’t align with their financial situation.
5. Overlooking State and Local Tax Nuances
Texas may not have a state income tax, but that doesn’t mean local businesses are off the hook. Sales tax compliance, franchise taxes, and other state-specific requirements can be tricky to navigate alone.
Why You Need a Local Tax Advisor in San Antonio
The internet is full of generic tax advice. But every city—and every business—is different. Here’s why a local expert like Lien Phat & Co Tax Advisory is your best ally:
Deep Understanding of the Local Business Climate
San Antonio is home to a vibrant and diverse small business ecosystem. From family-owned restaurants on the West Side to boutique startups near Pearl, each business faces unique tax and financial challenges.
Lien Phat & Co Tax Advisory understands the intricacies of doing business in San Antonio—from zoning permits and tax incentives to hiring practices and bookkeeping compliance. With 22+ years of hands-on experience, we provide strategic insight rooted in local expertise.
Personalized, Bilingual Service
We proudly serve San Antonio’s diverse business community, including Vietnamese and Spanish-speaking entrepreneurs. Financial advice should never be lost in translation. Our multilingual team ensures you get clear, actionable guidance in the language you’re most comfortable with.
Hands-On Support, Year-Round
Most tax firms disappear after April 15. At Lien Phat & Co Tax Advisory, we’re here 365 days a year to answer your questions, support your decisions, and grow with your business. Whether you’re managing payroll, considering expansion, or facing an audit, we stand by your side every step of the way.
Services That Go Beyond Tax Prep
Lien Phat & Co Tax Advisory offers comprehensive support to small businesses that goes far beyond tax returns. Our advisory services are designed to address your most pressing financial, operational, and strategic needs.
Business Planning & Entity Formation
Choosing the right business entity can have a major impact on your taxes, liability, and profits. We help you weigh the pros and cons of LLCs, S-Corps, partnerships, and more—then handle all the paperwork to get you up and running.
Bookkeeping & Back Office Support
A solid financial foundation is essential for long-term growth. We offer full-service bookkeeping, payroll processing, and financial statement preparation so you can focus on what you do best—running your business.
Tax Resolution & IRS Representation
Received a notice from the IRS? Don’t panic. We offer expert tax resolution services, including:
- Negotiating installment agreements
- Settling tax debt through Offer in Compromise
- Removing or reducing tax liens and levies
- Representing you during IRS audits
We know how the IRS works—and more importantly, how to protect your business from further damage.
Executive-Level Consulting
Looking to scale your operations, secure funding, or streamline your finances? Our executive advisory services are designed for entrepreneurs ready to take the next step. We offer high-level strategic guidance, business valuation support, and financial forecasting to help you plan and grow with confidence.
Real Results from Real Clients
Since our founding in 2001 by Patrick Huynh, Lien Phat & Co Tax Advisory has helped thousands of San Antonio small businesses build wealth, stay compliant, and reduce tax burdens. Here are a few examples of how our advisory has changed lives:
- A West San Antonio auto repair shop was facing $52,000 in unpaid payroll taxes. We negotiated a resolution plan that reduced their total liability by nearly 40% and helped them avoid bankruptcy.
- A local bakery came to us with boxes of unorganized receipts and no bookkeeping system. Within weeks, we streamlined their accounting and set up quarterly tax projections—saving them over $12,000 in overpaid taxes.
- A construction contractor with a rapidly growing team was unsure how to structure his business. Our experts restructured him from a sole proprietorship to an S-Corp, reducing his annual tax burden by nearly $18,000.
These are not isolated successes—they are a reflection of our commitment to helping local entrepreneurs succeed.
Preparing for the Next IRS Deadline Starts Today
Every IRS deadline is an opportunity to get ahead, reduce liabilities, and reinvest in your future. But waiting until the last minute leaves no room for strategy.
Here’s what you can do now to prepare:
- Gather Your Financial Documents: Profit/loss statements, receipts, payroll records, bank statements.
- Assess Your Current Business Structure: Is it still serving your goals?
- Schedule a Tax Planning Session: An early strategy session can identify savings you’d otherwise miss.
- Get Help with Quarterly Payments: Avoid penalties and smooth your cash flow with proactive estimates.
- Talk to a Local Expert: Choose a trusted, experienced advisor who understands your industry and your city.
Don’t Navigate Tax Season Alone
At Lien Phat & Co Tax Advisory, our business is helping your business succeed. Whether you need tax preparation, executive consulting, back-office support, or IRS representation, we have the tools, team, and 22+ years of experience to help you meet your goals—and exceed them.
Don’t wait until the IRS comes knocking. Get the expert help you need today from a tax advisor in San Antonio who’s committed to your long-term success.