Tax law is a complicated affair that changes with each season. Through rigorous professional training and routine participation in industry briefings, we sustain mastery of the current tax law, complex tax code, and new tax regulations. This discipline enables us to offer a full range of tax planning, preparation, and support services.
Are you anxious about filing your own tax returns? Even a simple return may require multiple forms. The instructions often evoke more questions than answers. While a computer software program may help, there’s no substitute for the quality of service and advice you’ll receive from an experienced tax professional.
Are you a sole proprietor? Have you been so focused on your business that you haven’t paid close attention to your books? No worries! We'll tidy things up and prepare your Schedule C as part of your personal income tax return. Then we'll help you set up an easy system to keep your books current going forward.
Proactive planning is the key to minimizing your tax liability. We work with businesses and individuals to pay the least amount of tax required by law. A few of the strategies that we consider include:
Your unique circumstances will determine the strategies that we can employ to maximize the money you keep in your pocket.
Even if you have not been targeted for an IRS Audit, you may be aware of problems that will catch up with you eventually. Common examples include:
We’ll work with you to review your prior tax years and make sure that all of your tax filings have been submitted accurately. If you don’t know what’s included in your tax record, we’ll help you get copies from the tax authorities without raising any “red flags.” We’ll assess your tax liability and the associated interest and penalties. Then, we’ll work with you on an approach to negotiation.
For example: You may be able to settle your tax debt for less than the full amount owed if the tax authority deems your offer to be the most they might collect within a reasonable time period. This arrangement is referred to as an Offer In Compromise.
We could work with the tax authority on a Payment Plan to resolve your debt. This approach protects you from asset seizure to settle your obligations. It may be possible to secure relief on penalties and/or compound interest. The IRS provides Innocent Spouse Relief when for an aggrieved party when his or her spouse or former spouse failed to report income, reported income improperly, or claimed improper deductions or credit. If your circumstances do not lend themselves to a negotiated settlement, then it may be necessary to seek protection through a Bankruptcy filing.
It is far better to face your problems than to wait for them to land on your doorstep. We’re here to help in any way we can. Contact us to receive more information about our Tax Preparation, Planning, Audit Support, and Troubleshooting services.
California Accounting would be pleased to get in touch to discuss your accounting and tax needs.
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