Tax Areas
Tax Compliance
Most tax preparers are just that – tax preparers. They prepare your return and send you on your way. Whether you’re a C-Corp, S-Corp, LLC, Partnership or Sole Proprietor, our goal is to keep you out of trouble, prepare an accurate return and offer comprehensive tax planning guidance. We understand proper tax preparation for all entities and are ready to represent you in case of an audit.
Our office is open year-round to support your tax needs and here to support you. Below are our specialties:
LLCs
S-Corps
C-Corps
Partnerships
Tax Planning
Traditionally, tax preparers sit with their clients once a year and advise them how much their liability will be and how to make estimated payments. They call this process tax planning, we believe this should be called tax managing.
We believe tax planning involves sitting with clients 2-3 times per year, estimating income projections, considering future growth and creating a plan that will minimize taxes, create more deductions and increase liquidity for business purposes rather than be used to purchase more equipment.
Tax Credits
A tax credit is money available that any taxpayer can subtract from taxes owed to their government. While tax deductions and exemptions reduces the amount of taxable income, tax credits reduce the actual amount of tax owed.
Tax credits are more favorable than tax deductions or exemptions because they actually reduce the tax due, not just the amount of taxable income.
Different states may grant a tax credit to encourage certain activities such as replacing older appliances with more energy-efficient ones. For business owners we find the R&D (research and development) Tax credit is often missed by other tax and accounting agencies. This could mean hundreds of thousands of dollars in refund that’s left with the IRS. We review all client’s file to make sure these huge refunds are never missed.
IRS Problems
As you try to manage your finances or your business we understand life can get in the way. We will help you navigate the complicated rules, regulations in the Internal Revenue Code and any un-intentional mis-steps you make.