Tax Preparation

For Small Businesses...

Tax Preparation for Small Business ...

Small businesses present additional dimensions to the tax preparation process. Understanding rules for depreciation, business use of personal assets and expenses. Small business owners need to make sure they've properly filed each form, correctly itemized each deduction and write-off, and have their receipts handy in case of a dreaded audit. We often discover that small business owners need guidance on the type of organizational structure works best for them in order to balance risk and reporting requirements. We can help provide insight and guidance in this vital area.

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Professional Tax Preparation, Tax Resolution and Tax Education
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Where We Begin ...

Our first step is to research your previous year's tax transcripts to determine any risk areas and to evaluate the complexity of your return and to identify the documents necessary to properly complete your return. This review provides a roadmap for preparation, as well as a means of evaluating your risk of audit, based on IRS markers. Additionally, we want to review your P&L and your Balance Sheet for the Past two or three years to look for year-over-year consistency.

This risk evaluation is not to discourage the taxpayer from taking any legitimate deductions, but rather the encourage full and complete document, in the event of an audit.

Document Gathering ...

As with all clients, when we are ready to begin the actual preparation of your return, we review all of the source documents necessary for preparing an accurate tax return. Most of our clients mail or scan and email their source documents to us, allowing them to locate all of the relevant documents necessary for filing. Then, we catalogue each document you provide to insure we have received everything we need to prepare your return. We also scan each document and return the originals to you for your files. You are then free to go about your routine activities, while we prepare the return. This allows us to prepare your return without time pressure. Experience has proven that the tyranny of the clock can cause unnecessary errors and help insure an accurate return.

Return Preparation ...

Using your prior years' returns as a benchmark, we prepare your taxes. This review of your prior year's returns helps us to identify similarities and differences between the years returns. Our goal is to explain any differences on the basis of our comparison of each element of the return. The computer can only calculate the taxes ... it cannot explain the rationale behind the tax calculations.

Return Review ...

Rather than have you come into the office to review your return, we establish a secure connection over the Internet to allow us to review your return in a live environment. For many couples, it provides the opportunity for both individuals to understand the return, even though they may be in two different locations. It also allows us the flexibility of working out a convenient time for review, apart from the constraints of the office schedule.

We can also get all of the necessary signatures via electronic signature and expedite the filing process.

Return Monitoring ...

Throught the year we will continue to monitor your file for any adverse activity on the part of the IRS. We continually monitor your IRS tax account to identify pending actions such as changes on your account to identify Audits, Liens, Collections, Significant Balance Changes, Compliance and more ... We can generally notify you in advance of any IRS notices and in many cases address issues before the IRS sends out its first notice. This service can greatly reduce penalties and interest charges resulting from inadvertent omissions on the tax return.

 

Schedule an Appointment

ProAuditGuard begins with a risk analysis of your Prior Year's Returns
... then, we continually monitor your IRS tax account
to identify pending actions such as changes on your account
to identify Audits, Liens, Collections, Significant
Balance Changes, Compliance and more ...