Income Tax Preparation

Income Tax Preparation

Income tax preparation of your own income tax returns can be a chore that leaves you with more questions than answers. Most taxpayers believe they benefit from utilizing a CPA tax professional for income tax preparation of their income tax returns.

Whether we like it or not, today's tax laws are so complicated that filing a relatively simple return can be confusing. It is just too easy to overlook deductions and credits to which you are entitled during the preparation of your income taxes. Even if you use a computer software program there's no substitute for the assistance of an experienced CPA tax professional for the preparation of you income tax returns.

Income tax preparation guide is one of the great ways for taxpayers to learn valuable tax information. The majority of income tax preparation courses begin in September; however, some do start later in the year. Many income tax preparation courses teach individuals how to accurately prepare their own income taxes and offer advice on maximizing income tax deductions and other tax credits.

Taxable revenue is your adjusted gross income minus deductions. Capital gains assets include stocks, bonds, mutual funds, furniture, even classic cars. Qualified dividends shelled out by stocks and mutual funds also avoid taxation.

Which form you use will depend on your income and your expenses. The basic forms all have the numbers 1040 in them, and they range from 1040EZ to the regular 1040. The larger your income, and the more deductions you can take, and the more difficult the form becomes requiring more time to gather the information and answer the questions.

Accounting method is the method a taxpayer uses to account for income and expenses. The two primary methods used to compute taxable income for U.S. citizens are the cash or accrual basis. Income tax preparation software can help you determine which accounting method you should use. Income Tax preparation software has the user identify what type of accounting method they are using.

  • Utilizing a Certified Public Accountant tax professional for the preparation of you income tax returns insures that you get it right and that your income tax returns are prepared and checked throughly as follows:
  • Your income tax return will be checked and rechecked by our computer software identifying potential problems or audit risks that the IRS may investigate.
  • The software also eliminates errors that are commonly made on paper filed income tax returns.
  • Your income tax return can be filed electronically so you will get your income tax refund in 7 to 10 business days.
    Our staff will show you how to adjust your payroll withholding to get more money back each week. Why give the IRS an interest free loan for up to 16 months.
  • We will show you potential deductions to limit your income tax liability for next year. In addition, we will give you a sheet of commonly overlooked deductions to limit the following year's tax liability.
  • All income tax returns are reviewed by a licensed CPA. Why go to a national chain and pay more and risk having an error on your tax return?

Call us for professional help with your income tax preparation now! (858) 549-1295