Tax Services

We are here to help you resolve your tax problems by helping you keep out of the problem in the first place. Tax laws change often. You need someone who can keep up with those changes to better advise you, to help you keep more of what you make, to help you grow your business, and to keep you out of trouble with the taxing authorities.

Tax Planning:

There’s an old saying in construction, “measure twice, cut once.” It’s not much different when dealing with tax matters. It’s always better to find out what the implications are well before you act than to find out well after its history. How do the current tax law changes affect you or your business? Can you benefit from them, or are there hidden traps that may cost you in the end? Proper planning can answer those questions and leave you with a plan to only benefit from the changes Congres makes during the year.

The tax planning we strive for not only reduces your taxes as low as possible, but helps you keep more of what you make. Generic tax saving strategies often sound great until you realize that there’s more cash going out than it saves in taxes. The terminology has become blurred over the years, but there are only two basic ways to reduce your tax bill. One is by reducing your taxable income through income deductions. The other is by reducing your tax liability through tax credits. We use a combination of both, when possible; to lower your taxes and help you keep more money in your pocket.

As we mentioned earlier, every client has a unique set of circumstances, and the tax planning ideas that work for one person won’t work at all for the other. Give us a call to schedule your tax planning today.

Tax Preparation:

Preparing your own income tax returns can be a task that burdens you with more questions than answers and leaves you feeling uncertain about what you did. Often times things done wrong can come back to haunt you later.

Today’s tax laws are complex, and they won’t get simpler any time soon. Even the easiest of returns may contain complex situations with the myriad of tax credits available. Tax software is not a substitute for a trained professional who can ask the questions and dig for the information necessary to prepare accurate returns.

We prepare returns for individuals who have tax filing obligations in many states in addition to Georgia. We e-file all individual returns that can be transmitted in that manner. Overpayment returns are refunded by direct deposit to your bank in 8 to 14 days. For balance due returns we prefer that you mail a check to the IRS or state to create that paper trail.

Business returns include self-employed individuals, small business owners, partnerships, limited liability companies, corporations, trusts and estates, non-profits and pension plans.

Tax Audits and Collections:

Audits happen more frequently than you think if you broadly define an audit. The IRS often audits returns by correspondence, yes, by mail. This is most commonly used in document matching of 1099’s and W-2’s to line items on your return. Less common are the audits where you are requested to bring in all your records and prove out every line item on your return under what is called the National Research Program, or NRP. And there are varying degrees of audits in between. Your return may be selected for examination on the basis of computer scoring, called the Discriminant Inventory Function System or DIF which assigns a numeric score to each individual and some corporate tax returns after they have been processed.

Throughout the examination, you can act on your own behalf or have someone represent you or accompany you. Whether we prepared your return or not, we can accompany you to an audit or represent you during the audit of your returns. We are familiar with the terminology used by the IRS and we make sure our answers to their questions do not expand the audit into other areas or other tax years.

Chances are though that a collection issue may arise more often than an audit. You receive a notice of deficiency, proposed assessment or a demand for payment from the IRS or state. Sometimes it is the result of a clerical error that can be resolved by correspondence or a phone call. Other times the money is due and payable, but you just don’t have the resources to pay in full. Your options are limited to an installment agreement or an offer in compromise.

Installment Agreement Request

You can request a monthly installment plan if you cannot pay the full amount you owe. To be valid, your request must be approved by the IRS. However, if you owe $10,000 or less in tax and you meet certain other criteria, the IRS must accept your request if the repayment terms are reasonable.

Georgia Installment Agreements are only accepted with a direct debit from your bank account and spread ratably over 12 months.

Before you request an installment agreement, you should consider other less costly alternatives, such as a bank loan. You will continue to be charged interest and penalties on the amount you owe until it is paid in full.

Offer in Compromise

In certain circumstances, the IRS will allow you to pay less than the full amount you owe. Generally, if you submit an offer in compromise, the IRS will delay certain collection activities. The IRS usually will not levy (take) your property to settle your tax bill while the IRS is evaluating your offer in compromise.

In the event you receive a collection notice, we can assist in determining if the issue is valid and the amount is accurate. If the amount is accurate, then we can help you in determining the most effective way to resolve the matter, which may include an installment agreement or an offer in compromise.

For more information please contact us.