If you own or manage a business, you know compiling and completing your taxes can be an annual struggle. And with so many aspects of your business to cover, it’s understandable opportunities to receive a refund can get lost in the cracks when tax season rolls around.
In our experience, we found this awakening is especially true when it comes to fuel excise tax refund recovery. We have worked with clients who contacted us because they were curious about whether they were due a fuel excise tax refund.
And they were surprised to learn that not only had they left money on the table, but they had left behind quite a lot.
Explore Your Options
If you use fuel in your business regularly, then you absolutely need to explore your options when it comes to fuel excise tax refunds, regardless of your specific industry or whether you have received a fuel tax refund in the past.
It never hurts to dig deeper and ask questions, and it may very well be a profitable move that puts money back into your business. But if you’ve never explored your fuel excise tax refund options before and are not sure if you qualify…
How Do You Get Started?
It all begins with the following steps to get the ball rolling, leading to great financial rewards down the road.
1. Take Stock
Many businesses may initially be hesitant to explore their fuel excise tax refunds options simply because they are unsure if their specific industry and use qualify. But countless businesses use fuel regularly to conduct operations; and, these industries can vary widely.
As a general rule of thumb, TIP’s fuel excise tax recovery services are ideal for companies that use gasoline or diesel to power machinery used for operations off the road. For example, below are these types of industries:
- Industries that use refrigerated trucks (florists, meat, produce, ice)
- Landscapers
- Hospitals
- Food banks
- Golf courses
- Oil fields & construction companies (diggers, drillers, dozers)
- Homeowner’s Associations (landscaping, maintenance to community property)
If you aren’t sure if your business qualifies or not, then contact us today. During a customized consultation, we can quickly determine if it’s time to take the next steps to uncover a refund.
2. Take a Look in the Past
Businesses may be hesitant to connect with us regarding their fuel excise tax recovery options. They are afraid because they have never received a fuel-related refund in the past. However, this is all the more reason to schedule a consultation!
If you have never received a fuel excise tax refund before, then there’s a good chance you can go back three years to reclaim past funds you are due!
Remember, it doesn’t cost a thing to see if you qualify. And, think, a quick consultation may lead to a large windfall.
3. Use Our Fuel Tax Calculator
Want to get a rough estimate of the size of your refund? We can help you make a generalized determination in just minutes!
Use our online fuel tax calculator to get started on garnering an idea of what you might be owed. It’s easy to use! And with just a few selections, you’ll have a clearer picture of how substantial your refund may be.
All you’ll need to know and provide to use the calculator is an estimate of the following.
- Type of fuel you use
- Type of vehicles that use fuel in your business (like lawn equipment or refrigerated trucks)
- Number of hours per day you use this equipment
- Number of days per week, and weeks per year, you use the equipment
Enter this information, and next, you’ll instantly get an assessment of how much money you can expect to put back into your pocket and back into your business.
4. Find a Partner, Like Us!
Chances are you have accounting professionals already connected with your business that help you do the heavy lifting when it comes to your annual taxes. But fuel excise tax is a unique aspect of your annual taxes.
It’s often overlooked because it can:
- Be intricate
- Be complicated
- Require a specialized expert
Fuel excise tax laws are constantly changing, and the intricacies can be difficult for even the most outstanding accounting professionals to navigate.
This is exactly why you need to work with a company like TIP whose sole focus is fuel excise tax refund recovery to ensure that you receive the largest and most accurate refund possible.
Talk to Us, the Experts!
The best aspect is that connecting with TIP does not cost you a thing until you receive your refund. Working with us requires little time and effort on your end to concentrate on your business.
You won’t have to spend days or weeks digging up paperwork or making time-consuming calculations to obtain your fuel excise tax refund. And even if you don’t have all information on hand, we can still help!
We will take care of all of the hard work to maximize your fuel tax refund, so all you have to do is reach out and connect with our professional team.
Whether you’ve filed for fuel taxes in the past or want to determine if you qualify, our expert team can help you ensure that when it comes to your refund, you leave nothing behind.