Tax Return Preparation: Tax preparation is the process of preparing tax returns, often income tax returns, often for a person other than the taxpayer.
We offer a broad range of accounting services to assist our clients in the effective operation of their businesses. JSA’s staff has extensive experience in the areas critical to our clients. Providing you with timely, accurate financial information is key to the success of your core business.
We strive to provide you with the highest quality service whether your needs are: payroll services, sales and use tax reporting or tax compliance and return preparation. We customize our services to meet the needs of our clients.
Our approach to tax planning is not merely to minimize a client’s payment of income tax for one tax period. This applies to individuals and business and many times the combined income tax of the individual and businesses they own.
Minimizing the tax from one year can result in a higher effective tax rate for subsequent years resulting in an overall higher present value of the income tax over future years. We consider the present value of the income tax liabilities in conjunction with cash flow.
The tax compliance services we provide include:
- Annual filing requirements
- Franchise and annual business reporting
- Estimated tax calculations
- Sales and use tax filings
- Payroll tax returns
- Tax audit representation – IRS, state, sales and use tax
Tax planning includes much more than minimizing a single year’s tax liability. Clients need to know the projected impact of taxes on budgeted financial performance, planned gifting, effects of divorce and division of property, estate tax and the taxes associated with their businesses.
Tax planning is unique based on each client’s circumstances, goals and objectives. Evaluation of alternatives that have different impacts on tax and timing of events play an important part in the design a tax plan. A tax plan should be reviewed to ensure that the plan is applicable considering changes in circumstances and goals. We have all seen the changes in tax laws over the years which sometimes requires modifying a tax plan in later years.
Contact us today to start your tax planning discussion.