Tax Preparing and Planning

 
 

Tax Reporting

  • For 1040 – Individual Income Tax 

  • Form 1041 – Trust and Estates Tax 

  • Form 941 – Quarterly Federal Tax 

  • Schedule C – Self Employed

  • Schedule E – Rent and Royalty Income

  • Schedule F – Farm Income

  • Schedule H - House Employment Tax

  • Form 1120s – S-Corp

  • Schedule K, K-1, 1065 – Partnership Tax​

  • Form 709 – Gift Tax Return

  • C-Corp Tax Return

  • Limited Liability Companies Tax ​

  • Not-For-Profit Tax Return​

  • All 50 State’s Taxes and Washington DC

Preparing your own income tax return can be a task that leaves you with more questions than answers. According to a study released by the US Government's General Accounting Office last year, most taxpayers (77% of 71 million taxpayers) believe they benefited from using a professional tax preparer.

Whether we like it or not, today's tax laws are so complicated that filing a relatively simple return can be confusing. It is just too easy to overlook deductions and credits to which you are entitled. Even if you use a computer software program there's no substitute for the assistance of an experienced tax professional.

Here's what you get...

Your tax return will be checked and rechecked by our computer software identifying potential problems the IRS may look at more closely and reviewing the math to limit IRS contacts.

Your tax return can be filed electronically so you will get a refund back quicker.
Our staff will show you how to adjust your payroll withholding to get more money back each week. Why give the IRS an interest-free loan for up to 16 months?
We will show you potential deductions to limit your tax liability for next year. In addition, we will give you a sheet of commonly overlooked deductions to limit the following year's tax liability.

Tax planning

While decisions are rarely made solely on their tax impact, you should have a working knowledge of the income or estate tax issues and costs involved.  Tax planning considers the implications of individual, investment, or business decisions, usually with the goal of minimizing tax liability.

A major goal of tax planning is minimizing federal income tax liability.

Investment tax planning involves evaluating how to best position assets and conduct transactions in order to minimize the amount of taxes you have to pay on an ongoing basis. This requires year-round planning, and it begins with an in-depth understanding of the tax implications of various investments and investment strategies, including:

  • The treatment of wash sales

  • Use of tax-exempt investments

  • Timing gains, losses, and income

  • 1031 exchanges

  • Qualified dividends

  • Tax-deferred investing

  • Understanding mutual fund taxation

  • Deduction planning

For small business owners, tax considerations are critical. They start with the structure of your business, including retirement plan selection, and continue through the sale. Your choice of business entity, how you pay out profits to the owners, and your accounting decisions will all have an effect on your tax liability.