Tax Preparation & Planning
Effective tax preparation and planning can help you to minimize your future tax liability. I can help you proactively manage both your personal and your business tax issues, including understanding how upcoming business opportunities impact your tax status and vice versa. Not all tax planning opportunities are readily apparent. By having me on your team, you are more likely to benefit from those opportunities. I understand how the latest federal, state and local tax legislation and other developments affect you and your business and I am constantly identifying new ways to reduce federal, state or local tax liabilities.
Tax Representation and Resolution
We help taxpayers whose problems with the IRS are causing financial difficulties; who have tried but have not been able to resolve their problems with the IRS; and those who believe an IRS system or procedure is not working as it should.
There are many issues that can arise between taxpayers and the IRS. If you are facing an audit, lien, or wage garnishment your future and reputation are at stake and you should take immediate action. But going it alone can be a time-consuming nightmare and sometimes result in a worse outcome. Handling the audit on your own is a big mistake! Our associates are uniquely qualified to resolve your tax problems and represent your best interests before the IRS and other tax authorities.
Why meet the IRS on your own? Don’t let an IRS notice turn into an IRS nightmare.
Very little is as unnerving than receiving an IRS Audit letter in the mail.
We take on the IRS for you as part of our expert tax preparation services. Many taxpayers decide to handle a tax audit themselves, and discover that’s it much more difficult than it seems.
When you have our firm represent you, rarely do you need to do more than forward us an IRS Notification of Audit Letter.. We handle all of the paperwork, handle the questions and the intimidation while you go on about your business as usual.
Delinquent and Problem Tax Filings
The worst thing you can do is nothing at all!
We can represent you and Prepare and File any delinquent tax returns.
We help taxpayers whose problems are causing financial difficulty or significant cost.
As a taxpayer, you have rights that the IRS must abide by in its dealings with you.
We will also prepare and file amended tax returns and correct any errors as a result of an incorrectly filed original tax return.
We will respond to Notices of Deficiency on your behalf. A Notice of Deficiency is filed by the IRS, usually as a result of an audit or additional information received by the IRS that was not reported on their tax return. In order to preserve your rights before the IRS this notice must be responded to in a timely manner.
UNLIMITED REPRESENTATION RIGHTS: Enrolled agents, certified public accountants, and attorneys have unlimited representation rights before the IRS. Tax professionals with these credentials may represent their clients on any matters including audits, payment/collection issues, and appeals.
Enrolled Agents – “Enrolled” means to be licensed to practice by the federal government, and “agent” means authorized to appear in the place of the taxpayer at the IRS. Only enrolled agents, attorneys, and CPAs have unlimited rights to represent taxpayers before the IRS. Licensed by the IRS, Enrolled agents are subject to a suitability check and must pass a three-part Special Enrollment Examination. This comprehensive exam requires them to demonstrate proficiency in federal tax planning, individual and business tax return preparation, and representation.
Certified Public Accountants – Licensed by state boards of accountancy, the District of Columbia, and U.S. territories, Certified Public Accountants have passed the Uniform CPA Examination. They have completed a study in accounting at a college or university and also met experience and good character requirements established by their respective boards of accountancy. CPAs must also comply with ethical requirements and complete specified levels of continuing education in order to maintain an active CPA license. CPAs may offer a range of services including tax preparation and planning.
A Certified Public Accountant (CPA) is an accounting professional who has passed the Uniform CPA examination and has also met additional state certification and experience requirements.
Attorneys – Licensed by state courts, the District of Columbia or their designees, such as the state bar. Generally, they have earned a degree in law and passed a bar exam. Attorneys generally have on-going continuing education and professional character standards. Attorneys may offer a range of services; some attorneys specialize in tax preparation and planning.
IRS Audit Representation
Have you received a Notice of Audit and Examination Scheduled from the IRS? An IRS audit is a review of an organization’s or individual’s accounts to ensure information is being reported correctly. Ignoring an audit usually means the IRS files your return for you and you end up paying much more. An IRS audit is a serious situation, but with experienced help most tax difficulties can be resolved. You don’t have to face an audit alone. Our associates are qualified to represent you before the the examination division of the IRS. Oftentimes we can save taxpayers many times the cost of representation and quickly bring the audit to a close.
We work closely with you to help with:
- IRS Tax Issues/Tax Problems
- IRS Tax Penalties
- IRS Tax Levies
- IRS Representation
- IRS Audit representation
- IRS Appeals
- IRS Installment Plans
- Tax Liens: A federal tax lien is the government’s legal claim against your property when you neglect or fail to pay a tax debt. The lien protects the government’s interest in all your property, including real estate, personal property and financial assets. A federal tax lien exists after the IRS puts your balance due on the books by assessing your liability or sends you a bill that explains how much you owe (Notice and Demand for Payment); and you neglect or refuse to fully pay the debt in time.
- Wage Garnishment/Levies: Wage garnishment happens when an employer is required to withhold the earnings for the payment of IRS or state tax debt in accordance with a legal procedure. Once a wage garnishment is filed with an employer, the employer is required to collect a large percentage of each paycheck.
- Tax Advocacy
- Tax Mitigation/Elimination
- Trust Fund Penalties: Owners, Officers, and certain employees can be held personally liable for a business’s failure to pay certain payroll taxes. This means that if you, or someone else within your business, is found to be willful and responsible for the business’s failure to pay payroll taxes you could be held personally liable for a portion of the back tax called the Trust Fund Recovery Penalty.
- Offer in Compromise-An offer in compromise allows you to settle your tax debt for less than the full amount you owe. It may be a legitimate option if you can’t pay your full tax liability, or doing so creates a financial hardship.
- 100% Penalty
- Statute of Limitations
- Back Taxes/Returns for Personal & Business Income Taxes
- Delinquent Returns
- Collection Appeal
- Late Payment/Filing of Payroll Tax Returns
- Innocent/Injured Spouse filing
We can evaluate many items in determining that only your lowest legal possible tax is reflected:
- Amending Tax Returns
- Filing of Past Returns
- Evaluating and Determining Tax Elections
- Determination of Filing Status
- Review of Past Filed Returns
- IRS automated collections representation
- Employment tax problems
- IRS collection notices
- IRS transcript analysis
- IRS financial statement preparation and assistance.
- IRS levies, liens and wage and asset garnishments.
- Dealing with IRS revenue officers. I represent you and deal with them on your behalf
- Statute of Limitations on IRS collections.- The maximum time the IRS has to collect your debt.
- Tax court procedures explained
- Trust fund recovery penalty handling
- Unfiled returns including all states.
Working with the IRS
- To Solve IRS Tax Issues
- To Pay Your Taxes – Withholding and Extensions
- How to Avoid an IRS Audit
- Trust Fund Monies (Payroll and Sales Taxes)
- Employment Trust Fund Recovery Penalty
- IRS Payment Plans & Installment Agreements
- To Solve IRS Tax Problems: Submit an Offer in Compromise
- To Understand an IRS Tax Levy & Your Rights
- To Utilize IRS Installment Plans to Pay Your Past Due Taxes
OFFER IN COMPROMISE – You may be eligible to settle your debts for less than what you owe. I will analyze your situation prior to submission of the offer to determine your chances of success.
CURRENTLY NOT COLLECTIBLE – This status occurs when the IRS agrees that you cannot afford to repay your debts and doing so would create a hardship for you. To obtain this status I will prepare a financial statement for you to determine your eligibility.
INSTALLMENT AGREEMENT – If your payments to IRS will never repay what you owe, the IRS will give you a payment plan that fits your ability to pay called a Partial Payment Installment Agreement. I can handle all the details for you.
INTEREST AND PENALTIES – The interest charged by the IRS is the federal short term rate plus 3% totally around 5%. I can help you find alternatives to paying these penalties
DELINQUENT PAST RETURNS – I can handle filing of all delinquent federal and state returns for you.
If you’re looking for a firm that will focus on your individual needs, and always treat you like a client who matters, look no further. I offer a full range of professional services and give you the individual attention that you deserve.
I will thoroughly and conscientiously study your personal situation, and tailor my advice to your specific needs.
Accounting Software Selection & Implementation
There is no shortage of accounting software solutions for your business. Software as a service (SaaS), cloud computing, and other technological innovations are adding more dimensions to technology decisions. Choosing the right solution that will meet the needs of your business now and in the future while also providing a necessary level of security is crucial. I can analyze the nature of your business and financial transactions, current technology, future business plans and emerging needs to identify and implement a software solution that is flexible enough to grow and change with your business.
Audits, Reviews, and Compilations
My audit, review and compilation capabilities are a core part of my services. I tailor each process to the unique needs of your business. I deliver financial statements and reports that are clear, concise and acceptable to all outside parties and that can provide information and insight to help you run your business more effectively. I will work closely with you and your key employees to develop and execute a plan to complete this work by minimizing employee time spent on the process and without disrupting operations.
If your business does not currently have accounting staff or if your business is outgrowing its current bookkeeping system, I can provide comprehensive bookkeeping and write-up services to ensure the smooth operation of the financial side of your business. As your business needs grow and change, I can provide input and planning assistance to make sure your accounting and financial systems keep pace with your business needs.
As a true business partner, I am available to help you deal with any business problem or opportunity. I stand ready to engage in business consulting projects to help you make the right decisions for the future of your business. Whether you face questions related to expanding, selling or restructuring your business, I have the necessary business acumen and analytical capabilities to help you make the right decisions.
Business Entity Selection
The business entity—LLP, LLC, sole proprietorship, partnership, corporation, etc.— that you select for your business has enormous financial and tax implications. It is important that you make the right decision. I can explain each choice and its implications. As your business grows and changes, the type of business entity you choose may need to change also.
Buying or Selling a Business
Few business decisions are more important, complex and potentially business altering than a buy or sell decision. When you are ready to sell your business, I can provide support at every step, including valuing the business, vetting potential buyers, and supporting due diligence. If a buying opportunity presents itself, I can help by providing valuation services, developing negotiation and financing strategies, and managing the due diligence process.
Estate & Trust Tax Preparation
Estate matters affect everyone. By taking proactive steps today, you can ease the way for your heirs during a very difficult time. I can work with your legal counsel to help you to structure your estate and trusts to minimize taxes and ensure the smooth transition to your heirs. I am available to handle all estate and trust tax-related matters.
When a business is able to undertake strong financial analysis, it opens up new opportunities to improve management, planning and decision making. Financial analysis provides the numbers to support, reject or contemplate a course of action. Prospective analysis can show how situations may evolve under various scenarios, providing a new dimension to decision making. I am ready to provide this type of financial analysis to support the continued prosperity of your business.
Financial statements are an important tool for management decision making. Financial statements also represent your business to lenders, partners, potential buyers and other interested parties. I will work closely with your key personnel to develop and finalize accurate and timely financial statements.
Management Advisory Services
My Management Advisory Services focus on improving the efficiency and effectiveness of your business and its operations. I can provide support in business planning, mergers, acquisitions, and other advisory support. Contact my office to learn about the full range of services I provide.
A notary public can help you to handle various business matters, including witnessing and authenticating document execution and signatures. I offer Notary Public services and I am available when you need me.
Constantly changing federal, state and local laws and tax regulations make payroll management an ongoing challenge for business owners. I am well versed on these laws and regulations. I can proactively alert you to material changes that will affect your business and your employees while also keeping payroll running smoothly no matter how large your business and your employee population become.
Retirement planning is critical in these uncertain times. Whether you are developing a retirement plan for yourself or choosing a retirement plan to offer to your employees, I can help you evaluate the available options. My focus is on helping you to make the choice that is most appropriate for your own financial situation. If you are choosing a retirement plan for your business, I will base my recommendations on the unique characteristics of your business and your employee population, as well as the legal and compliance issues related to each type of plan.
Sales Tax Services
State and local tax authorities are looking to maximize sales tax collections. I can help you understand and manage your sales tax obligations and prepare sales tax returns in an efficient and timely manner.