Individual Tax Services:
Tax Preparation
Preparing your own income tax return can be a task that leaves you with more questions than answers. According to a study released by the US Government's General Accounting Office last year, most taxpayers (77% of 71 million taxpayers) believe they benefited from using a professional tax preparer.
Whether we like it or not, today's tax laws are so complicated that filing a relatively simple return can be confusing. It is just too easy to overlook deductions and credits to which you are entitled. Even if you use a computer software program there's no substitute for the assistance of an experienced tax professional.
Here's what you get...
- Your tax return will be checked and rechecked by our computer software identifying potential problems the IRS may look at more closely and reviewing the math to limit IRS contacts.
- Your tax return can be filed electronically (E-FILE) so you will get a refund back quicker.
- Our staff will show you how to adjust your payroll withholding to get more money back each week. Why give the IRS an interest free loan for up to 16 months.
- We will show you potential deductions to limit your tax liability for next year. In addition, we will give you a sheet of commonly overlooked deductions to limit the following year's tax liability.
Books a Mess: No Problem!
If you own a small business and haven't kept up your bookkeeping, don't worry. We can help you. We'll prepare your bookkeeping for the year, prepare a full Schedule C, as well as your personal income tax return. Then we'll help you set up an easy system that allows you to keep your books in tip-top shape next year.
Electronic filing or e-file reduces the time it takes to get your tax refund, but you must have a valid Social Security number for every person included on the return. B & A Tax Service has taken electronic filing to a new level. Our process reduces the common errors even further and manages the entire electronic filing process to get your refund to you as quickly as possible. Our return preparation process is designed to ensure accuracy with every step.
The next step in the electronic tax filing process is to transmit your tax filing to the IRS and the appropriate state Department of Revenue, if applicable. We receive acknowledgements from these tax authorities, so that we can be assured of providing your refund in a reasonable time frame. Our proven tax preparation flow and system of error-checking assures you of the fastest and most accurate electronic tax filing and processing possible.
Tax Planning
Planning is the key to successfully and legally reducing your tax liability. We go beyond tax compliance and pro-actively recommend tax saving strategies to maximize your after-tax income.
We make it a priority to enhance our mastery of the current tax law, complex tax code, and new tax regulations.
Businesses and individuals pay the lowest amount of taxes allowable by law because we continually look for ways to minimize your taxes throughout the year, not just at the end of the year.
We recommend Tax Saving Strategies that help you...
- Grow and preserve assets.
- Defer income so you can keep your money now and pay less taxes later.
- Reduce taxes on your income so you keep more of what you make.
Here are a few of the Tax Saving Strategies we use...
- Splitting income among several family members or legal entities in order to get more of the income taxed in lower bracket.
- Shifting income or expenses from one year to another in order to have them fall where it will be taxed at a lower rate.
- Deferring tax liabilities through certain investment choices such as pension plans, contributions and other similar plans.
- Using certain investments to produce income that is tax exempt from either federal or state or both taxing entities.