Corporate & Personal Tax Preparation

We advise businesses and corporations of all sizes—small, medium and large—on the best tax strategies available to them, maximizing the size of business refunds and minimizing business income taxes.

The federal government estimates that 60% of individuals use paid preparers to complete and submit their tax returns. If you are one of these people, it’s important to get started right away so you can have a successful tax return experience. We are here to help you have a successful tax experience. 5 steps can help you at tax time.

1. Gather your information returns which you will be receiving at the beginning of the year.

The most common forms are:.

  • Form W-2 if you have a job
  • Form SSA-1099 if you received Social Security benefits
  • Various 1099s to report income such as cancellation of debt (1099-C), dividends (1099-D), interest (1099-INT), and nonemployee compensation paid to independent contractors (1099-MISC). Form 1099-B, which reports gains and losses on securities transactions.
  • Form 1095-A to report information from the government Marketplace from which you purchased health coverage
  • Various 1098s reporting mortgage interest (1098), student loan interest (1098-E) and tuition payments (1098-T)
  • Schedule K-1s from entities in which you have an ownership interest (e.g., S corporations, partnerships, limited liability companies, trusts or estates).

2. Get your receipts together (Best to organize and record throughout the year)

Look for receipts for medical costs not covered by insurance or reimbursed by any other health plan (e.g., a flexible spending account or health savings account), property taxes, and job-related and investment-related expenses. Business income and expenses; bank and credit card statements; asset purchases and liquidation.

3. Gather records for charitable contributions

Any donations to charity, cash or service, to claim those deductions.

4. Make a list of personal information

Social Security number, the SSN number for each dependent, addresses of vacation homes and rental property; dates you moved; information about property you bought and sold, including dates, what you originally paid, what you received on the sale and expenses you had.

5. Get a copy of last year’s return

Thorough documentation and organized records will reduce the preparation time. Most of all, these preparation steps will ensure that you’re not missing out on any tax benefits. Let us help you get organized and advise you on how to minimize your tax liability.

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