Clarity You Can Count On.
Tax Guidance You Can Trust.
Personalized Tax Services in Florida
Tax Preparation
The Internal Revenue Code has become increasingly complex, making it difficult for many taxpayers to navigate without the help of an experienced tax professional. This is especially true for individuals that own businesses or rental properties or who have complicated activity on their personal tax returns. We have noticed that most new clients’ prior-year tax returns contain significant errors, many of which will cause issues in the future. Some of the most common errors include the following:
- Basis of assets calculated incorrectly
- Depreciating assets under wrong methods
- Treating passive losses as nonpassive
- Deducting losses exceeding limitations
- Not tracking basis on IRA activity
- Not tracking outside basis of business interests
- Missing tax deductions
- Missing elections
- Amongst many others
As part of onboarding for all new clients, we thoroughly review all prior-year tax returns looking for issues that may need to be addressed before we can prepare any tax returns. Once any prior-year issues have been addressed, we can begin preparing the tax returns. We specialize in preparing the following tax returns:
- Form 1040 – Individual Tax Return
- Form 1065 – Partnership Tax Return
- Form 1120 – Corporate Tax Return
- Form 1120-S – S Corporation Tax Return
- We prepare additional tax return types on a limited basis, please submit an inquiry for details.
Bookkeeping Services
The most overlooked service by most business owners is good bookkeeping. An accurate set of financial statements is the foundation for almost all financial decision-making. Without an accurate set of financial statements, a business cannot perform many critical functions that ensure its continued growth, compliance, and continuation. Accurate tax returns cannot be prepared, tax planning cannot be done, lenders may not continue lending, KPIs cannot be tracked, and it will make it difficult to value the business. Many businesses with poor bookkeeping tend to consistently miss out on tax deductions they otherwise were entitled to, such as the following:
- Missing interest expense on business loans
- Missing depreciation expense on business assets
- Owner contributions miscategorized as income
- Business expenses incorrectly treated as assets
- Amongst many others
We offer comprehensive monthly bookkeeping services to meet the needs of your business. Every bookkeeping client can rest assured knowing that the financial condition of their business has been tracked timely and accurately and is available for when the need arises. As part of our bookkeeping services, we perform the following:
- Monthly account reconciliation
- Monthly loan amortization
- Quarterly payroll reconciliation
- Calculate basis of new assets
- Calculate gain/loss on asset sales
- Adjusting journal entries at year-end
- Monthly check-ins for unknown transactions
- Amongst many others
Tax Planning
Another benefit of having accurate financial statements and tax returns is that it allows you to do proactive tax planning. It is impossible to do tax planning without knowing your current financial and tax positions since every tax optimization and reduction strategy is based on your current tax situation. We work actively with our Concierge plan clients to optimize and reduce their tax burdens using some of the following strategies:
- Rental real estate strategies
- Retirement and investment planning
- Reasonable Compensation Analysis
- Optimizing QBI Deduction
- Charitable contribution planning
- Amongst many others
Frequently Asked Questions
Find answers to common questions about our services.
What is an Enrolled Agent?
An enrolled agent is a designation granted by the Internal Revenue Service that allows unrestricted representation of taxpayers before all matters with the Internal Revenue Service. Enrolled Agents earn their designation through either passing a three-part comprehensive examination, or through experience as a former Internal Revenue Service employee. Enrolled Agents are subject to ethical standards outlined in Circular 230 and must obtain 72 hours of continuing education every three years to maintain their credential. The Enrolled Agent designation is one of three designations that can represent taxpayers before the Internal Revenue Service, with the other two being Attorneys and Certified Public Accountants.
What types of clients do you specialize in working with?
We specialize in working with individuals, small businesses, and rental property owners located within the State of Florida. We may accept out-of-state clients on an individual basis. Please submit an inquiry on the Contact Us page for details. Unfortunately, we do not work with international taxes, large businesses, syndications, or clients with complicated multi-state tax compliance needs. However, we have many professional relationships with other firms in the industry that we can refer you to so please still reach out to us for assistance!
Are you currently accepting new clients?
Yes! We are still accepting new clients and would be happy to meet with you over a discovery call. There are many firms that are no longer accepting new clients due to staffing issues, and tax laws that have become more complicated every year.
Do you offer virtual appointments?
Of course we do! We are a virtual firm that prides ourselves on using the latest technology to provide professional services to our clients. All our meetings are done through Zoom calls with appointments. This is our preferred method of meeting as it allows us to share our screens with our clients, providing visual aids to simplify complex topics. If you would like to schedule a discovery call, please visit the Schedule Discovery Call link in the top right-hand corner of the website.
How quickly can I expect a response to my inquiry?
We pride ourselves on consistent, professional communication. Every email receives a reply within two business days, and if more time is needed to research or prepare information, we’ll provide an estimated completion time within that same period. Our goal is to make sure you always know where things stand.
When should I start preparing for next year’s taxes?
The best time to start preparing is now! Whether you are just looking for tax preparation only or personalized tax planning, the earlier you start planning the smoother next tax season will be. The last few months of the year are a great time to ensure that your QuickBooks file is complete, accurate, and reconciled. This will drastically speed up when your tax return can get prepared and allows for tax planning as well!
