Tax Consulting & Compliance
Tax Consulting and Compliance
There’s more to your taxes than just filing your annual return. Our team works closely with individuals and closely-held businesses to assist you with complying with the myriad tax rules. It is our job to see that you pay no more tax than the law requires. We continuously monitor changes in the tax law that affect you and recommend tax saving strategies. We will prepare all your tax returns for filing and serve as your advocate in all tax matters. If you are contacted by any government agency concerning your tax matters, your first call should be to us. We will take care of it so that you can focus on running your business.
There is a certain mystique around tax planning and tax-cutting techniques. We are here to put tax planning in plain English for you. There are actually several basic tax-cutting strategies, and most plans involve one or a combination of them. In a nutshell, the strategies are:
- -Splitting income among several family members or legal entities in order to get more income taxed in lower brackets.
- -Shifting income from one year to another in order to have it fall where it will be taxed at the lower rate.
- -Shifting deductions from one year to another to place them where the tax benefit will be greater.
- -Deferring tax liability through certain investment choices and through pension plan contributions.
- -Structuring your affairs to obtain a tax deduction for some expenses paid for things you enjoy - a vacation home, for example.
- -Investing your money to produce income that is exempt from either federal or state income tax or both.
Today's tax laws are so complicated that unless your financial affairs are extremely simple, chances are you will benefit from at least occasional help from a tax professional. It is too easy to overlook deductions and credits to which you are entitled if you prepare only one return a year. Even the use of computer software is no substitute for the assistance of a seasoned tax preparer. We prepare hundreds of tax returns every year. We know what to look for when your return is prepared. More importantly, you have someone to ask questions of during the rest of the year. And we will put you on our mailing list to receive timely tax and financial information.