We recognize that tax time can be just as stressful for individuals as it can be for businesses. Let’s talk about how we can help you to make tax time less difficult by giving you the peace of mind that all your taxes are being done correctly.
Essentially the adjusted gross income for tax purposes is an individual’s total gross income, minus any specific deductions. Deductions that are typically included in this calculation include business expenses and certain domestic expenses such as alimony.
Walter Diemer is an accountant who invented what in 1928? a) Adding machine, b) Bubble Gum, c) Washing Machine, d) Band-Aid. Answer: B. Diemer invented bubble gum! Perhaps it helped him concentrate?
Do you owe money to the IRS that you cannot pay all at once? Ask about negotiating an installment agreement with the IRS, which allows you to make monthly payments.
Have you used tax preparation software programs in the past and still produced an inaccurate return? This happens more than you might expect. Let’s talk about how we can help you to provide the IRS with a more accurate return.
Real estate issues (whether you bought or sold property, or managed rentals) are one of the main things that can trip people up on filling their taxes. A tax professional is familiar with all of the tax laws relating to real estate and will help you file correctly.
Did you know that accounting errors are some of the leading causes of IRS audit flags? Double checking final numbers, and sticking with professional tax preparing services, can have a dramatic impact on lowering audit risks for individuals and small businesses.
The government and the president pass laws and issue orders every year that impact the IRS Tax Code. Some are new regulations, while others extend existing tax credits or deductions. It's the job of a tax accountant to stay on top of all of the legal changes from year to year.
"The U.S. tax code was written by "A" students. Every April 15, we have to pay somebody who got an "A" in accounting to keep ourselves from being sent to jail." -Humorist, P. J. O'Rourke
If you’ve recently moved to a new state or started a business, you may have a more complicated tax situation than you’ve ever faced before. Working with a qualified tax accountant can help you ensure that you understand the nuances of your tax reality.
When you hire a professional accounting service, you’re placing your bookkeeping records in the hands of experts. In fact, a business accounting service hires only the most highly trained and qualified personnel, who are dedicated to attention to detail.
Have you ever considered a Roth IRA conversion in order to secure longer-term tax benefits? By converting eligible funds from a Traditional to a Roth IRA, you create a taxable event, but this is quickly outweighed by the fact that with a Roth IRA, qualified distributions can be federal income tax-free.
It’s important to remember that tax preparation software programs are no substitute for the guidance and support of an experienced tax professional. When you need to know that your taxes are accurate before submission, we’re always here for you.
Accounting fees are typically priced by the service. For example, a firm preparing your tax return may charge you by the page, document or your situation’s level of complication. However, accountants are not permitted to charge a percentage of your tax refund.
If you start up a new business you’ll need accounting software, among a myriad of other business equipment and supplies. But do you have any idea which program is best? A tax accountant can recommend a program that’s recognized in the industry, as well as something they can maneuver around and explain to you.
If you’re not the kind of person who’s known for their ability to make fast and accurate mathematical calculations, you may approach tax preparation with a sense of dread. Rather than stressing out for a month or more, you can simply turn the process over to us.
What’s the difference? A certified public accountant (CPA) is licensed by the state to prepare taxes, compile financial reports and provide financial consulting. An enrolled agent (EA) specializes in tax laws and regulations and is certified by the IRS.
A business accounting service will take care of far more than just keeping and maintaining accurate expenses. The service will also keep thorough and accurate financial records, and give invaluable advice and guidance on all tax-related issues.
Be careful when looking for an accountant, especially if you limit your search to online services. There are many software applications that allow almost anyone to perform certain tasks, but that does not mean the software is taliored to your specific needs. Make sure the accountant you work with is qualified and has the credentials to prove it.
Have you been hesitant to file your tax return because you want to wait to file until you can afford to pay the full balance? Remember, the fee for filing late is usually quite a bit more than the fee for not paying all or part of your tax liability by the deadline.
Accountants often play a key role in catching criminals. Accountants in law enforcement are called forensic accountants; their job is to conduct financial investigations about spies, terrorists and other criminals.
There are a variety of ways you can set aside money for your children that are either tax-deferred or tax-free, but they can be incredibly confusing. A tax accountant can go over your goals and options with you to find the best choice.
Does it ever feel like you know more about what you’re allowed to write-off on your taxes than the person you’re paying to prepare them? When you want the benefit of true tax experience, we’re always ready to take over.
Did you know that if you hire household workers (such as a house cleaner, in home caregiver, or a nanny), you must pay and report payroll taxes beyond a certain income threshold? Failure to do this can result in an audit and penalty fees.
