The problem today is that most small business owners are violating dozens of tax and business laws that they don’t even know exist. Business owners already struggle to make a living while trying to comply with the very complex Tax Code. They generally don’t have the time or resources in meeting all of the regulatory requirements that our government has placed before them, or even to find out exactly which regulations apply to them and which don’t.
Business owners find themselves overwhelmed by an ever-changing, increasingly volatile regulatory and investigative climate. On a daily basis most small businesses unknowingly violate some regulation.
Small and micro businesses cannot afford to hire a chief compliance officer (CCO), so the tasks and responsibilities fall onto the shoulders of the business owner. The good news is that you can outsource those responsibilities to us.
Incompass can take this burden off of you by helping you comply with the maze of regulations for applicable local, state and federal laws, thereby allowing you more time to run your business. We can be your advocate who will monitor those tax and regulatory rules that specifically apply to your situation so you can stay out of hot water!
Failing to comply with the regulatory laws can have criminal or civil ramifications and lead to expensive penalties; thereby jeopardizing your business. Regulations vary by industry and the definition of what constitutes an effective compliance plan has been elusive.
Compliance should be an integral component of your business culture, thereby mitigating risk and protecting your business and personal assets.