Federal & State Taxes

INDIVIDUAL TAX RETURNS

In the early stages of your life, you may not have needed an accountant to assist you with your tax filing. However, as you gain more life experience and advance in your career, it is likely that you will need the help of one of our accountants. A few of the ways we can help are: Determine filing status – There are many instances where your filing status isn’t clear, whether you have been recently married, have dependents, gotten divorced or other special circumstances. Our CPAs can help determine what filing status will maximize your tax return. Tax deferment advice – To reduce your taxable income, there are steps our accountants can advise you to take. With tailored tax deferment advice, you can have your taxes significantly reduced. Asset-liability – There are many financial assets which can affect your taxes, from a healthy stock portfolio to an inheritance. It is essential that your income from these assets are properly filed or you could be subject to penalties.

SMALL BUSINESS TAX RETURNS

For smaller businesses, it can be easy enough to file your taxes, especially as you work to build up your business. In those cases, simply filling out the Schedule C-EZ can be enough to address your taxes. However, you may need our CPAs assistance in preparing your small business taxes in these circumstances:

• Reporting losses or something aside from a net profit
• If you have any employees
• You carry business inventory
• When your business expenses exceed $5,000

CORPORATE TAX RETURNS

Corporations and S-Corporations often have their taxes scrutinized. To help protect you from problems with the IRS, our CPAs can assist you by preparing your company’s tax return. In fact, even if you have an in-house bookkeeper or accountant, it may be best to send your tax preparation and filing out-of-house. Our CPAs may be able to see things that in-house bookkeeping may miss, and with our accountants’ experience in the ever-changing tax law and local tax codes, you can be sure that your business is compliant.

PARTNERSHIP AND LLC FILINGS

When it comes to LLC tax preparation and filing, it is essential to file a Schedule C, E, or F. To help determine which is right for you, our accountants can help.If your LLC is a partnership, it can directly impact your personal tax return. Also, there may be other forms you need to file as a partnership, like Form K-1. With the help of our CPAs, your personal tax liability and your business’ can be better balanced.

FIDUCIARY ACCOUNTS

The trustees of fiduciary accounts will need to file tax return information concerning the income earned by the account. With the help of our accountants, your Form 1041 can be appropriately filed. Also, during the tax preparation, our CPAs can help reduce the taxable income of your fiduciary accounts.   

TAX-EXEMPT / NON-PROFIT ORGANIZATION TAX RETURNS

Organizations that are tax-exempt like non-profits still need to file tax returns to maintain their status with the IRS. These returns need to be accurate and transparent, as they can play a significant role in non-profits receiving grants. Our accountants can assist with the tax preparation of public non-profits, religious organizations, private foundations, and other tax-exempt organizations.

PAYROLL AND SALES TAX

Accurately reporting payroll and sales taxes is critical for your business, as well as filing on-time, even at times where you may not have sales tax to report. For one thing, if your payroll taxes are filed correctly, you can receive credit from the state government to use to reduce your federal unemployment taxes. As for your sales tax filing, depending on what states you do business in, this filing can be tricky and can require the expert help of our accountants. 

PROPERTY AND INCOME TAX

If you opt to itemize your taxes, you may be able to deduct the property taxes you pay from your federal taxes. By doing so, your taxable income can be reduced. Our accountants can determine if this is something possible for your taxes.