| It is our job to see that you pay no more tax than the law
requires. We monitor the changes in the tax law that affect you
and recommend tax saving strategies. We will prepare all your tax returns and serve as
your advocate in all tax matters.
If you are contacted by any government agency concerning your tax matters, your first
call should be to us. We will take care of it so that you can get on with your business.
Tax Planning
There is a certain mystique that has grown up around tax planning and tax-cutting
techniques. We are here to put tax planning in plain English for you.
There are actually several basic tax-cutting strategies, and most plans involve one or
a combination of them. In a nutshell, the strategies are:
Splitting income among several family members or
legal entities in order to get more of the income taxed in lower brackets.
Shifting income from one year to another in order
to have it fall where it will be taxed at the lower rate.
Shifting deductions from one year to another to
place them where the tax benefit will be greater.
Deferring tax liability through certain investment
choices and through pension plan contributions.
Structuring your affairs to obtain a tax deduction
for some expenses paid for things you enjoy - a vacation home, for example.
- Investing your money to produce income that is exempt from either federal or
state income tax or both.
Some additional TAX PLANNING items we may need to look at:
- W-2 Withholding - Is your employer withholding the correct amount of
taxes from your paycheck? If you are underwithheld, you may be subject to IRS penalties.
If you are overwithheld, you may be giving Uncle Sam an interest free loan!
- Capital Gains - Would it be wise to sell stocks at year end to take
advantage of a loss?
- Are you a non-incorporated business owner? - Is this the optimal form
of doing business for you? The form of business you choose should be given careful
consideration because each has different tax and legal consequences.
- Can you deduct an IRA contribution or is a Roth IRA best for you? - Did
you know that if you are unemployed but collect alimony, you may still be entitled to an
IRA deduction? Also, did you know if you participate in a "non qualifying"
pension plan at work, you may be eligible to deduct an IRA contribution?
- Is it alimony you are paying or is it child support? - One is tax
deductible, the other is not.
Professional Help
Today's tax laws are so complicated that it may be too easy to overlook
deductions and credits to which you're entitled to if you prepare one tax return a year.
Even the use of computer software is no substitute for the assistance of a seasoned tax
preparer. More importantly, you have a team of professionals to ask questions of during
the rest of the year. At Janice Bourne, CPA, we pro-actively seek deductions you
may not realize are available to you. We know exactly what to look for and what questions
to ask to help you keep more of what you make.
Call us!
Why don't you call us for a no-charge initial conference? We will discuss your
financial and tax situation and determine how we can help you. If your financial affairs
are simple, it may be a short meeting. If you have extensive holdings, your needs are more
complicated and should be treated accordingly.
What are your chances of being audited by the IRS?
Click HERE to do a quick
estimate.
What are you interested in? |
