Tax laws are continuously changing for personal and business income taxes. Preparing your own income tax return can be a task that leaves you feeling uncertain and confused. It is very easy to overlook deductions and credits to which you are entitled. Even if you use a computer software program, there is no substitute for an experienced tax professional working with you to understand your tax position and help you maximize your deductions and credits.
Good tax management starts with good financial recordkeeping. It is imperative that you keep accurate records of all your income and deductible expenses. Your records will help you identify the source of receipts, prepare your tax returns and support items reported on your tax returns. To help our clients, we provide a tax organizer to assist them in providing the information needed for us to prepare their taxes.
Reynolds Financial Services provides the following tax services:
· Individual Federal and State tax returns
· Corporate, Partnership and LLC tax returns
· Non-profit income tax returns
· Delinquent tax filings
· IRS Payment Plans or Offer in Compromise
· Extensions and Estimated Payment Vouchers
· Payroll tax returns
· Business Personal Property tax returns
· Sales & Use tax returns
Tax Filing Deadlines
For most business taxpayers, March 15th is the tax filing deadline and for individual taxpayers, April 15th is the filing deadline. Please keep in mind that when we file an automatic extension for a client using either Form 7004 or Form 4868, this extends the filing date by 6 months. However, if you do not pay the tax due by March 15th (businesses) or April 15th (individuals), you will be subject to penalties and interest.
Are your books a mess? No problem!
If you own a small business and have not kept your bookkeeping up-to-date, don’t worry. We can help you. We will prepare your bookkeeping for the year and prepare a full Schedule C, as well as your personal income tax return. Then we will help you set up an easy system to keep your books in tip-top shape next year.
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