It’s no surprise the pandemic has changed the way millions of Americans do their jobs.
- Several industries are thriving, while others struggle to stay afloat.
- Many businesses have made changes to their income and workforces.
- In addition, millions of Americans are switching from a traditional office setting to remotely working from home.
Certainly, COVID-19 has created new challenges and questions in the workplace.
- So, what are these significant adjustments?
- And how do they affect your bottom line, especially when it comes to your taxes?
Take a closer look at the recent and sweeping adjustments many have made across the board in the past few months. Also, let’s look at the following.
- How your business can best move forward
- How to move on when it comes to your taxes and income
- Ensure you receive the largest tax refund possible
With alterations to the way we work, learn, and even play, everything seems different as the country and the world adjusts to a new version of normal. The pandemic has certainly changed every aspect of life around the globe.
Some Businesses Thrive While Others Struggle
One of the most significant economic headlines in the past few months when it comes to the pandemic is the success or deterioration of certain industries around the country.
For example, recreational and tourism-based businesses are struggling, such as:
- Amusement parks
- Cruise lines
- Restaurants
- Entertainment venues like movie theaters
- Additional industries that depend on large crowds to operate
On the flip side, industries may benefit from Americans staying at home, such as:
- Grocery stores
- Delivery services
- Technological companies
- Farmers and food producers
- Companies considered a basic, essential service
And while some professions and businesses slowed to a halt during the pandemic, other businesses that were considered essential flourished and worked hard to keep the country running, including:
- Grocery stores
- Food providers
- Outdoor recreation providers as all entertainment shifted to the outdoors
- Construction companies
- Shipping companies
- Businesses that made a living by providing the essentials: food, shelter, and a little much-needed entertainment
If this sounds like your business, you should definitely explore your options to fuel excise tax recovery. Chances are, with all your hard work during the past year, your refund is much larger than you’d think. It’s also possibly larger than previous years when life was simply business as usual.
We Work With All Industries
At TIP, we work with different industries that rely on fuel to get the job done. And as such, we have seen clients both struggle and thrive in the past chaotic months.
- A food provider or a delivery service swamped in recent weeks.
- An entertainment venue or tourism-related business struggling to stay afloat.
Regardless of your industry, we have the expertise required to assist with your unique situation while ensuring you obtain the biggest fuel excise tax refund.
Your Workplace Landscape Has Likely Changed
Many offices and workplaces have either shuttered or put in new restrictions to keep their employees safe. This situation means Americans, on the whole, are working in an entirely new way.
As working from home becomes more normal, businesses are also adapting by:
- Hosting online meetings
- Attending virtual consultations
- Taking steps to work effectively while still maintaining social distance
We Provide Online Consultations
At TIP, we provide online consultations for our new and existing clients to ensure we can provide the same exceptional service in a remote setting. If you have questions about our services and how we can help your business receive the largest fuel excise tax refund possible, you can easily contact us. We’ll get started on scheduling your free consultation with our experienced and professional team.
When you work with us, we will need some preliminary info to get started on garnering your maximum refund, such as:
- A list of non-highway equipment
- In-service dates
- Reefer hours
- Fuel invoices
- Form number used for annual federal tax filings
- The month of the year your tax year ends
- Your federal I.D. number
Start collecting this information and keep a running tally of any changes as the year progresses. Perhaps in the months ahead, you’ll increase your equipment or make changes to your inventory. Or maybe you’ll collect more and more fuel invoices as the year progresses. Keep these items safe and stored away for the future. You want them available when the next tax season rolls around because you’ll be ready to file with little effort.
The Last Two Tax Seasons Were Different and May Continue in 2022
The IRS extended the due date to file your 2021 taxes this past year due to the pandemic. Unfortunately, this trend may continue in 2022 as well. And this adjustment trend is one Americans will want to keep an eye on in the months to come.
As gas prices have hit record lows, businesses due to a fuel excise tax refund may be concerned this amount will be smaller in the years to come. However, this is not necessarily the case. The best way to see what your fuel excise tax refund may entail – and how it might change in the future – is to contact TIP. With just a little basic information from you on your operations, we can help you determine how lowered fuel prices may impact your bottom line come tax season.
Ready to Get Started? Now Is the Time to Explore Your Options
At TIP, our adherence to providing the best service possible while ensuring you get the fuel excise tax refund you deserve has not changed. And we’ve discovered now, more than ever, is when you need to examine your options when it comes to tax refunds thoroughly.
This is a time when companies need to be focused on saving money to survive this challenging pandemic landscape and get back to normal. With a little preliminary information from you, we can get to work at exploring your options when it comes to fuel excise tax recovery and can determine how to put money back into your pocket.
Best of all, we can provide all of our exceptional services remotely and online, so you can expect the same stellar service and attention that the professionals at TIP have to offer, all while maintaining a safe distance and continuing to work from home.
Regardless of your industry, we will dive deep to find the largest refund possible for your company. Contact us today via phone, email, or online form. Let’s work together to ensure no matter how the world changes in the months and years to come, you won’t leave anything behind when it comes to the hard-earned refund monies you are due.