Tax Accounting Services
Individual Tax Preparation and Filing
- Comprehensive review of personal finances
- Preparation and filing of federal and state income tax returns
- Maximizing deductions and credits to minimize tax liability
- Assistance with tax planning and strategies for future tax years
Business Tax Preparation and Filing
- Preparation and filing of business tax returns (e.g., sole proprietorships, partnerships, S-Corporations, C-Corporations)
- Compliance with federal, state, and local tax regulations
- Identification and utilization of tax incentives and deductions specific to the business entity
- Quarterly estimated tax calculations and filings
Tax Planning and Strategy
- Customized tax planning to minimize tax liability and optimize financial outcomes
- Evaluation of tax implications for major life events (e.g., marriage, divorce, retirement)
- Strategic advice on timing of income recognition and expense deductions
- Guidance on structuring investments and retirement accounts for tax efficiency
IRS and State Tax Issue Resolution
- Representation and negotiation with tax authorities in case of audits, notices, or disputes
- Assistance with responding to IRS or state tax inquiries and requests for information
- Resolution of tax debt through installment agreements, offers in compromise, or penalty abatements
Estate and Trust Tax Services
- Estate tax planning and preparation, including estate tax return (Form 706) filing
- Trust tax planning, compliance, and administration
- Guidance on minimizing estate taxes and maximizing wealth transfer to beneficiaries
- Coordination with legal advisors to ensure tax-efficient estate planning strategies
Tax Credits and Incentives
- Identification and analysis of available tax credits and incentives for individuals and businesses
- Assistance with claiming tax credits for research and development, energy efficiency, and other eligible activities
- Evaluation of eligibility for federal and state tax incentive programs, grants, and subsidies
- Documentation and compliance to ensure proper utilization of tax credits and incentives
Quarterly Tax Projections and Compliance Review
- Ongoing monitoring of tax liabilities throughout the year
- Quarterly projections to estimate tax obligations and avoid surprises at year-end
- Review of financial statements and transactions for tax compliance and optimization opportunities
- Adjustment of tax strategies based on changing circumstances and tax law updates