When a client comes in for their individual tax, there are four main areas that must be handled by the accountant. They are tax planning, tax research, tax compliance, and audit representation. The main goal is to ensure that the individual maintains their taxes according to the letter of the law, so there are no surprises along the way.
Individual Tax Planning
Through individual tax planning, we can help you to estimate what your current tax liabilities are. If there are any liabilities that you have that are the result of any income that you bring in through your job, or through investments. We can then come up with a series of strategies that will help you to reduce your taxes and ensure that you paying less when April 15 comes around.
Individual Tax Research
There are tax ramifications that may come up based on transactions, or when you potentially change a job. We can take the time to help you understand how certain decisions can impact your taxes. This includes buying and selling property, investing in a 401K, or even when you lose your job or take on a position in a higher tax bracket. That way, you won’t have to worry about any tax or penalties coming up at the last minute.
Individual Tax Compliance
Your individual tax compliance is essential. We can help you to prepare all your federal and state tax returns in the United States. Even if you have income in several different states that will require you to file tax returns in those states, we can help you to prepare all the documentation you need. That way, there are no surprises along the way.
Individual Audit Representation
There are times when you may be audited by the government for your taxes. Our team of professionals will help you with all office, desk or site based audits. We will represent you through the entire process and ensure that your rights are protected and there are no surprises along the way. Once the process begins, we will stand by your side until the process is done.
Don’t trust your individual tax representation to just anyone. Work with a professional who will provide you with all these benefits and more, such as Theodore A. Purvis, CPA.