Our individual tax preparation services go beyond just preparing your income tax return. We support both small businesses and business owners through strategies that help them minimize their income taxes. Taxpayers face a wide range of problems when preparing their taxes and filing returns. These include penalties, unpaid taxes, underreporting income, math errors, and audits. We use our expertise to do a thorough evaluation of your tax situation, help to make the tax preparation process smooth, and provide recommendations for the future. This goes a long way in ensuring that you are tax compliant.
Below is how our individual tax preparation services can help you:
- Keep an eye on your income: The law requires that people who meet or surpass certain levels of income should file a tax return. We can work with you to determine whether you meet this threshold and help you file your tax return. This will involve adding up incomes from your employers as well as the money you make from your investments.
- Save the right paperwork: Part of the work we do is to help you keep all tax-related paperwork in order. This will make life easier for you when the time comes to file taxes. Some of the records you may want to keep are receipts for work-related expenses, charitable donations, medical bills, and statements from your student loans.
- Income documents: We will also educate you on the income documents you should expect to receive. This will depend on whether you are a full-time employee, a freelancer, or on contract. When it comes to filing your returns, we can assist in filling out the forms and ensuring all the relevant documents are in place.
- Credits and deductions: Putting together the proper documentation will make it easier to know the credits and deductions you are eligible for. Our knowledge of the tax laws and tax process will help you reduce the amount of tax you owe. Depending on your situation, you may qualify for credits and deductions relating to student loan interest, charitable donations, freelance expenses, and saver’s credit. We are always ready to offer the advice and guidance you need.
- Deadlines: Preparing and filing tax returns can be a time-consuming exercise. Without the right knowledge and experience, you may find the process confusing. We lend our expertise to ensure you file your returns before the set deadlines so as to avoid hefty penalties. This also helps you to get any refunds due to you sooner.
- Filing: When it comes to preparing and filing your tax returns, you will want to work with a professional you can trust. Filing individual tax returns involves sensitive personal information. At Akuchie Accounting Services, we ensure that your personal information is safe and secure.
Hiring our accounting firm to handle your individual tax returns will ensure the process is done right the first time around. Whether you have a complicated tax situation, have had a major life change during the tax year, or do not have the patience to deal with the challenges, you can trust us to cover all your bases.