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Services: Tax Preparation & Planning

Tax Preparation & Planning

Anyone who has experience running a business or paying individual taxes will tell you that the one of the hardest and most confusing aspect in handling one’s finances is keeping track of what you owe the local, state, and federal tax agencies. There are a dozen ways to err with your tax preparation and planning simply because the tax code changes unexpectedly and quite often. In 2013, for instance, there were 10 changes in the tax code that included changes in the Child Tax Credit, energy credits, tax returns for same sex couples, and earned income tax credit, among others.

The fact is that tax preparation is an all-year round work assignment. It includes keeping track of changes and possible changes or face being caught flat-footed during the rush of tax season. Paying your taxes and knowing how much to pay cannot be done properly in a week or a month especially if you want to take full advantage of the available tax credits. Furthermore, with the right tax preparation and planning you will never have to cringe about paying more than you should.

According to the US GAO, or Government Accountability Office, Americans pay more taxes than they should by an average of around $400. Although the government gives tax refunds to 75% of Americans, it doesn’t include the accrued interest. More importantly, the general consensus on tax refunds is that it is “extra money” that you can spend as you wish since it isn’t in your regular monthly budget. Unfortunately, that isn’t exactly right because it isn’t extra money but money you chose to bank with the government, interest-free.

We can help you with tax planning so you can use your funds more efficiently and get the most value out of it.

How We Can Help You Prepare and Pay your Business Tax Obligations

The average business owner pays 20% more taxes than is required by law. We can help you pay the right amount on schedule which will save you money that can be used to expand your business or pay salaries and bonuses.

There are 3 main tax issues where you can fail with the IRS because of errors committed by your accountant. They are:

  • Late payments
  • Late reports
  • Inaccurate payments and reports

We can offer professional tax preparation services for corporations, small businesses, partnerships, and individuals. We are also experienced in the filing and payment of personal property taxes, local tax, state and multi-state tax payments, and tax planning. With us, you won’t be scrambling to meet deadlines or frantically looking for the funds to pay your taxes. We can and will meet with you personally to show you how to set aside the necessary tax funds and avail of tax credits and applicable deductions.

Through our regular electronic newsletter which we send to our clients, you are assured of up-to-date changes in the tax code.

A few of the business tax problems that you may have to face because of lack of tax preparation which we are highly trained to address and resolve are:

  • Wage garnishment, incorrect payroll and employment tax
  • Tax liens, tax levies, and delinquencies
  • IRS audits
  • Tax evasion or failure to file and pay the proper tax
  • Threat of IRS lock-out or lock-in

Tax planning, on the other hand, will include the following:

  • Financial planning
  • How to avoid costly tax blunders
  • Creating a tax strategy for your business finances

How We Can Help You Maximize Your Personal Finance with Tax Planning and a Customized Strategy

It isn’t uncommon for an earning individual to be uninformed or misinformed about tax obligations. Many accountants are not truly interested in keeping up with the latest tax code especially if the boss or client is the type to be hands-off. We believe that individual tax accounting, planning, and preparation should never be relaxed. Accountants should be vigilant for their clients or employers and if they aren’t, then they should be replaced.

It’s negligent behavior for personal accountants to be complacent with the income and finances of others. Your personal financial profile is constantly changing and being challenged so in order to maximize your earnings while complying with the tax laws, you need an accounting team that is 100% invested.

We offer quality professional advice and accounting services that go beyond the scope of a single accountant’s capabilities. Our team of tax experts and CPAs collaborate to ensure that your income and earnings are protected from excessive and unnecessary tax payments. We do this by:

  • Being committed to your financial stability, growth, and success
  • Recommending risk-controlled accounting strategies
  • Reviewing your 1040 tax returns to find ways to save money through tax credits and other methods
  • Helping you plan for your retirement through strong accounting planning
  • And evaluating your personal financial portfolio regularly vis-à-vis your financial goals

Clearly taxes are not just about hiring an accountant to help you encode data and file tax forms properly.

It’s not just about paying the government on time and according to the law - as you or your accountant knows it - so they won’t bother you or cause you to feel stress.

If we could sit down with you and discuss a customized tax strategy for your personal earnings and that of your business, we can show you how to save money and still be in the government’s good graces.

Give us a call, email, or sign up to receive our electronic newsletters. Let us prove to you how efficient, knowledgeable and creative we are in helping you save money while still paying the right taxes.