Decide If Your Business is Salvageable

One of the first questions that must be asked is a very hard one. If you’re struggling to pay your payroll taxes, you have to answer the question of Why?. You must be honest with yourself. Look hard at your current profit and loss statements. There’s no sense in fighting a battle that will be lost anyway if your business model just isn’t working.

In order for the IRS to consider a payment plan, you must be able to make ALL of your current Payroll Tax deposits on time and in full. If, after taking a serious look at the numbers, if you know that’s not going to happen without a “miracle”, it’s time to close up shop and move on.

Many extremely successful business owners have had payroll problems during their careers. And those same business owners had the wisdom to know when to “stay and fight”, and when to move on. To be successful, you need some independent professional advice to help you make the right decision.