Professional Tax Return Preparation

We prepare hundreds of tax returns every year. We know what to look for when your return is prepared. More importantly, you will have someone to answer your questions during the rest of the year. And we can put you on our mailing list to receive timely tax, business, and financial advice.

Your Tax-Cutting Checklist

Whether you’re a wage earner, an investor, a business owner, or all three, you should use the tax-cutting benefits available in the tax law. There is little to be gained by paying more tax than the law demands.

Identify the tax-savers for which you qualify. Here’s a tax-cutting checklist to get you started. Check the list to see if there are tax breaks that you are overlooking.

For Individuals:

• Roth IRA
• Roth 401(k) if employer’s plan permits
• Rollover to Roth IRA
• Tax-deductible IRA
• Child tax credit
• Income shifting to children
• Child care credit
• Earned income credit
• Annual gifts to reduce estate
• Education savings accounts
• Education expenses
• American opportunity tax credit
• Lifetime learning credit
• Bunching deductions
• Flexible spending accounts
• Health savings account
• Donating appreciated assets instead of cash
• Qualifying property for personal residence gain exclusion
• Best filing status
• Shifting income or deductions from year to year
• Adoption expense credit

For Investors:

• Tax-free municipal bonds
• Long-term capital gains
• Rental property
• Tax-free exchange
• Low-income housing credit
• Small business stock rollover

For Businesses:

• Home office deduction
• Keogh plan
• SIMPLE plan
• SEP
• 401(k) plan
• First year expensing of business equipment
• Year-end bonuses
• Bad debt write-off
• Disabled access credit
• Other business tax credits
• Tax-free exchange