Terry Selb Helping Business Owners Financially Navigate COVID-19

Terry Selb

January 17, 2021

Terry Selb - Helping Business Owners Financially Navigate COVID-19

Optimizing Tax Returns Accounting for COVID-19 Transactions

Terry Selb is a tax attorney helping business owners navigate the regulations and governmental programs associated with the COVID-19 pandemic. Small businesses hard-hit by this virus are facing a myriad of financial issues requiring the assistance of professional tax preparers.

Grants and the Payroll Protection Program are among the financial lifelines the U.S. government extends to businesses, and they must be accounted for in specific ways. This is especially true in terms of the PPP because criteria must be met for the loans to be forgiven. Also, accounting for special transactions, liabilities, and interest payments can differ between financial statements and tax returns. This is why Terry Selb and his team work closely with clients to prepare all financial records.

Many businesses were forced to permanently reduce their workforces because of business shutdowns and lost revenue. This includes not only frontline workers but also financial professionals such as accountants and bookkeepers. As a result, it has become more difficult to prepare financial statements and tax returns in an accurate and timely manner. For these reasons, Terry Selb and his team are helping clients with bookkeeping write-ups and financial statements. Financial audits are also available to give business owners insight into the accuracy of their financial statements.

Additional services offered by Terry Selb include sales tax return preparation, retirement planning, estate, and trust tax preparation, business entity selection and general consulting services. Terry Selb and his associates have detailed knowledge and understanding of the Internal Revenue Code, allowing them to represent clients before the IRS. This representation is critically important during the time of COVID-19 when new regulations and programs have added complexity to tax return preparation.

Clients can rely on Terry Selb and his team for a spectrum of financial services to optimize their accounting function and tax returns. Given the importance of financial records and the issues that can ensue from inaccurate tax returns, working with a professional is critical for ongoing success.

Terry Selb is an accomplished tax attorney with more than 20 years of experience helping clients optimize their financial statements and tax returns. Over his career, he has helped over 5,000 clients with business and tax-related issues. He is also a senior partner at one of the fastest-growing tax resolution companies in America. Terry Selb graduated from William Mitchel College of Law.