TAX SERVICES – DONE WITH ONE PURPOSE IN MIND
Maximize. That is not a word often associated with tax matters, but the point is to maximize your after-tax income by reducing your tax liability. Price CPAs works to enhance the financial position of the clients we represent – tax matters are a major part that outcome.
Addressing tax issues and opportunities involves three key areas: Planning, Preparation and Problem Resolution.
Strategic planning is as important to managing tax liability as it is to any other part of a business, family or personal financial situation. Having the right tax strategies in place creates a number of positive financial impacts, but without the right plan, the risks are high. Here are some of the benefits a plan to minimize tax liability can help provide:
• Grow and preserve assets
• Maximize income by minimizing taxes
• Retain more family assets
• Increase the opportunity to give more by avoiding unnecessary taxes
• Grow investments and wealth
• Protect retirement distributions and improve your retirement lifestyle
This begins by talking with one of Price CPAs tax professionals and creating the plan that realizes these benefits. After listening to the details of your situation, we will apply strategies that best protect your income and assets. Some of the options we might explore are:
• Dividing income among family members or legal entities in order to get more of the income taxed in lower bracket.
• Address opportunities to accelerate or defer income and expenses to maximize after-tax income.
• Deferring tax liabilities through certain investment choices such as retirement plan contributions and other similar plans.
Preparing tax returns without the guidance of a professional can raise confusing questions, create frustration and may cost you more that you realize. Even the most sophisticated software can’t replace the insights and advice of our professional tax team. Here is what we provide:
• Return preparation to assure compliance with tax law and regulations.
• Electronic filing of your return.
• Professional guidance to show you potential deductions that limit your tax liability for next year, as well as a sheet of commonly overlooked deductions to limit the following year’s tax liability.
SPECIAL NOTE: Bookkeeping Problems.
If you own a small business and bookkeeping is not your “strong suit,” don’t worry. Price CPAs can help you prepare – or repair – your bookkeeping for the year and prepare and prepare your business and/or personal income tax return. Then we’ll help you set up an easy system that allows you to keep your books current so you avoid unnecessary anxiety and are much better prepared for future tax filings.
Tax problems with the IRS (or state taxing authorities) can be an intimidating. Tax problems can arise from unfiled tax returns, errors and omissions in previously filed returns, audit situations, unpaid taxes, incorrect or incomplete responses to IRS notices, etc. Ignoring correspondence from the IRS or state taxing authorities is never a good idea. Being proactive when a tax problem arises is always the preferred course of action.
Ready to talk to a Tax Professional?
Call Mark (615) 385-0686 or email him by clicking below: