Uncovering opportunities in your taxes.

Uncovering opportunity in my taxes, absolutely. With the complexity of the tax law, many people miss legitimate deductions and tax credits that they are allowed. Sometimes it is the simplest of items; in other situations, it is complex. In either case, I work on your behalf to seek the lowest taxes possible.

What are examples of opportunities? One area is retirement. A simple contribution to a pension plan can reap rewards both now and later at retirement. The style of the retirement depends on your goals and available assets.

Can we find opportunities during the year?

This is a resounding yes. Not too many years ago, a tax preparer would see his/her clients once a year at tax time. Now it benefits clients to do tax planning, since taxes and tax laws change as well as lifestyles. Why wait? Why not take advantage of tax breaks now?

Do you have to be sophisticated to utilize the services of a CPA?

Not at all. We can find opportunities in the simplest of taxes. In one particular case, the taxes were not especially difficult, however I have found that the client was entitled to an earned credit that had not been taken. In another case, I have found that a married client filed incorrectly and that through a correction, were able to save on taxes.

We have clients who prefer to do their own taxes. Yet, we still see them during the tax season to review their returns. It is comforting to the client that he or she has all of the entitled deductions and credits, and is in compliance with the tax laws.

What if no change can be found in my taxes?

Great! It is nice to know that the return is complete and in compliance with the law. However, what about the future? Do you have anything that could change your tax picture in the future? If you have a potential tax due, now is the time to plan for those taxes. Perhaps there is something that can be done now that will lessen those taxes. It is easier to come in now, rather than find out that you owe on April 15th.

Are there opportunities in businesses?

You bet! Businesses can miss opportunities. For instance, companies that have employees can provide nice benefits for the employees without breaking the bank. The benefits are deductible and they can keep the employee happy and loyal. This will turn into revenue for the company. However, the compliance with those benefits can be onerous. This is where I come in. I work to take the burden off of the owner’s back.