65% of all American taxpayers pay more than they are required to Uncle Sam. Why? Because the tax laws and tax codes, deductions and credits, all seem so complicated.
Whether you have questions about your retirement fund, business employee benefits or simply want to brush up on the basics, we have information and tools to help you manage your taxes and save money.
Our tax preparation fee varies based on the type of tax and size of the business. Our services include:
Tax Planning is an essential element of the tax preparation process. By making tax planning part of your overall business strategy, you can use our experience and access to the most current new developments in the tax laws to minimize both your current and future tax liabilities.
We will prepare all federal, state and local tax returns depending on your residency status during the year. We make sure you don't miss tax saving opportunities resulting from new tax laws and we will identify ways to minimize your taxes.
Many of our clients are responsible for collecting and submitting sales taxes in many different areas. We can assist your company in the collection of information and preparation of sales tax return in a well-organized and timely manner.
Take advantage of our professional, affordable and comprehensive payroll and payroll tax solutions for your business. we calculate your payroll and tax obligations for each employee, print and deliver checks, provide management reports and prepare all payroll tax returns. With the resources and expertise of one of the nation's largest power payroll agencies, we'll handle all your administrative needs and we'll help you make more profitable use of your time.
The legal form under which a business operates can greatly impact the owner's tax obligation, liability for business debts, control in business decision making, and financing alternatives. The three basic legal forms that are used for operating a business are: sole proprietorship, partnerships, and corporations. Other forms of business organization include limited liability companies and joint ventures. Each form has its own advantages and disadvantages depending upon the nature of the business and the prospective owner's plan of operations.
It is important that you consider each form of business organization carefully to evaluate the most appropriate structure for your business. While it is possible for a business to start out under one organizational form and change to another later, proper planning can prevent difficulties caused by an unsuitable legal structure. We recommend that you seek professional counsel early on to determine the form of business organization that best suits your business.
Sole Proprietorship
Partnership
General Corporation
Close Corporation
Subchapter S Corporation
Limited Liability Company (LLC)
Medical-related Overlooked Tax Deductions
1. Medical transportation expenses including tolls, parking, and mileage for trips to health facilities, doctor's offices, laboratories, etc. 2. Nursing home expenses that are primarily for medical care 3. Medical aids such as crutches, canes, and orthopedic shoes 4. Hearing aids, eye glasses, and contact lenses 5. Hospital fees for services such as nursing, physical therapy, lab tests, and x-rays 6. Equipment for disabled or handicapped individuals 7. Part of the life-care fee paid to a retirement home designated for medical care 8. The cost of alcohol and drug abuse programs, and certain smoking-cessation treatments 9. Wages for nursing services
Job-related Overlooked Tax Deductions
10. Education expenses you paid to maintain or improve job skills 11. A handicapped individual's work-related expenses 12. Professional journals, magazines, and newspapers that are job-related 13. Cost of safe deposit box used for investments or business 14. Seeing-eye dogs for the handicapped or guard dogs for a business 15. Required uniforms and work clothes not suitable for street wear 16. Union dues 17. Employment agency fees or commissions in certain cases 18. Home office expenses, if for your primary place of business 19. Job-seeking expenses within your present field of employment 20. Reservist and National Guard overnight travel expenses 21. Dues to professional organizations 22. Business gifts up to $25 per customer or client 23. Business expenses including travel, meals, lodging, and entertainment not reimbursed by your employer 24. Cleaning and laundering services while traveling for business 25. Tools for use at your job 26. Cellular phones required for business 27. Half of the self-employment tax paid 28. Self-employed health insurance premiums
Property-related Overlooked Tax Deductions
29. Commission to brokers or agents for the sale of property or property management 30. Your moving expenses 31. Personal property taxes on cars, boats, etc. 32. General casualty and theft losses in excess of $100 and totaling more than 10% of adjusted gross income 33. Miscellaneous Overlooked Tax Deductions Student loan interest 34. Special school costs for mentally or physically handicapped individuals 35. Worthless stock or securities 36. Fees for tax preparation or advice 37. Legal fees to collect taxable alimony or Social Security 38. Hobby expenses to the extent of hobby income you included in gross income 39. Services of a housekeeper, maid, or cook needed to run your home for the benefit of a qualifying dependent while you work 40. Penalty on early withdrawal of savings 41. Alimony paid, but not child support 42. State income taxes owed from a prior year and paid in the tax year 43. Fourth quarter estimated state taxes paid by December 31 44. Taxes paid to a foreign government 45. Mandatory contributions to state disability funds 46. Points paid on mortgage or refinancing 47. General sales tax deduction (including tax paid on large items such as cars or boats) in lieu of the income tax deduction 48. Cash and non-cash contributions to a qualified charity 49. Mileage incurred in performing charitable activities 50. Gambling losses to the extent of your gambling winnings
