Tax Planning   We keep up with the constant changes in the tax laws that could affect you and recommend tax saving stratagies.  We will prepare all your tax returns and represent you before government taxing agencies in all matters. Contact us immediately if you are contacted by any government agency on any of your tax matters.    We will take care of it and you can take care of your business affairs. Tax strategies to lower your tax liability will involve some of the following: By shifting your deductions from one year to another in order to have it taxed at a lower rate.     Moving your income from one year to another to have it where you will have a better tax benefit.     Organize your affairs to obtain a tax deduction for some expenses paid for things you enjoy.   For example a vacation home.    To have more of your income taxed at lower rates split income among several family members and/or legal entities.    By utilizing certain investments, as well as through pension plan contributions, defer the tax liability.    You can invest your money to have tax free income from federal or state income tax, or both. Do a tax forcaster for you during the year to determine your liability for the year to better plan for any of the above items.

Tax Return Preparation The constantly changing tax laws are so complicated that chances are you may overlook deductions and credits to which you are entitled to when you self prepare your return. Even if you use a computer software programm it is no substitute for the assistance of a seasoned tax preparer. Your time may be better used in concentrating on your business or spending time with your family and friends.   Hundreds of tax returns are prepared by us every year.  We know what to look for when we prepare your return.  You will have help available from us all year round to answer your questions and or any questions or correspondence from government taxing agencies! You have the following tax cutting benefits available to lower your tax liability.  Have you overlooked any of them? Businesses:  Bad debt write off. First year business equipment expensing. Home office deduction.   Like kind exchange. Pension plans. Tax credits federal and state. Year end bonuses. Individuals: Adoption expense credit. Child care credit. Child tax credit. Donation of appreciated assets instead of cash. Earned income credit. Education expenses. Education savings account. Flexible spending account. Health savings account. Hope scholarship credit. Income shifting to children and/or entities. Lifetime gifts. Lifetime learning credits. Moving income or deductions from one year to another. Optimization of filing status. Personal residence gain exclusion. Roth IRA. Tax deductiable IRA. Investors: Like kind exchange. Long term capital gains and dividends. Rental property. Tax free bonds.

Recordkeeping for Taxes How long should you keep your records? Federal tax returns will be open for audit up to three years after filing and up to six years if there is substantial unreported income. You should keep records for at least six years after filing date of the return. Some records you may want to keep permanently namely: A copy of every years tax return. (Federal and state). All contracts. All improvements to real estate. Real estate closing documents and agreements. Important records: Business or work related expenses. Charitable contributions. Home improvements. Home refinancing. Home sale and purchase. Inherited property. Interest and points paid. Investment capital gains, dividends and interest. Investment purchase and sales transaction information. Medical Expenses. Nondeductiable IRA contribution. Taxes paid.   Your Initial Consultation - FREE! Call us for an appointment 704.341.9611 or toll free 877.891.8226.