Tax Preparation and Planning for Individuals
We help you keep more of your hard-earned money in your pocket. We'll look at your complete financial situation and make recommendations to reduce taxes now and in the future.
Preparing your own income tax return can be difficult, to say the least. Today's tax laws are complicated. It is easy to overlook deduction and credits to which you are entitled. Even if you use a computer software program, there is no substitute for the assistance of an experienced tax professional, especially if your financial situation is complex.
A few indicators of a complex financial situation:
- You've undergone significant life changes (marriage, divorce, received an inheritance, changed jobs, had kids, are getting ready to retire)
- You own a business (sole proprietor, LLC, S-Corp)
- You have taxable investments (stocks, bonds, mutual funds, dividend-earning investments)
- You own rental property
- You sold your home or purchased a new home
Why Hire a CPA?
- There is a lot more that goes into taxes than just plugging numbers into a tax return. A big advantage of hiring a CPA is the tax planning and consulting we can offer to create strategies that will help you save money both now and in the years to come.
- Tax laws are extremely complex, and it is hard to fully take advantage of the deductions and tax savings offered without having a better understanding of the continually-changing tax laws. A CPA is better equipped to use and interpret these laws to help you save money.
- Do you know if you're deducting everything you should be on your rental properties? A commonly missed deduction is rental property insurance because it is usually buried in the mortgage escrow payments and is not directly paid by you.
- Did you purchase a new home or refinance your home? If so, did you know your origination fees could be tax deductible?
- Do you work from home or run a business out of your home? If so, you could be eligible to deduct a portion of household expenses such as utilities and repairs and maintenance.
- Are you self-employed and paying for your own health insurance? If so, your health insurance premiums may be a deductible.
- If you are faced with an IRS audit, a CPA has the experience and knowledge to respond appropriately and analyze your return to ensure their findings are accurate. A CPA also has the ability to represent you before the IRS if you’re faced with an audit.
Hiring a CPA provides you with peace of mind because you can rest assured that you did not miss anything when doing your taxes yourself.
Individual tax accounting services include:
- Form 1040
- Schedules A & B
- Child Credit forms
- Education credit forms
- State returns
- Schedule D
- Form 2106 (Employee business expensse)
- Form 8829 (Home Office Deductions)
- Schedule C (Small business)
- Schedule E (Rental properties, K-1s)
- Filing electronically
- Finding potential deductions
- Tax Return Amendments -- amendments can usually be filed up to three years from the date you filed your original tax return.
- IRS representation -- CPA support in the even of an IRS or Colorado Department of Revenue notice of audit.
- Specialized knowledge of Public Service Employee requirements.
OUR FEE INCLUDES:
- 30-minute consultation before or at the time that tax packet is delivered to us.
- New client’s fee includes a review and analysis of the previous two years of tax returns for the evaluation of carry forwards, missed deduction or missed credits.
- Return preparation and optimization
- 30-minute tax planning and review meeting after tax return preparation
- Electronic archiving or tax returns and supporting documents
- 24/7 access to electronic copy of tax return via our client portal.
Our Roadmap
Get Acquainted
Create
Implement
Verify
Conclude
First we sit down with you to establish an understanding of your situation.
New clients receive a 45 minute pre-tax season review. Existing clients are offered a 20 minute pre-planning review. This is in addition to the two 30-minute tax season consultations (up to a $270 value).
Then we we begin identifying recommendations and possible solutions for your issues.
Next we compile your information and begin to implement those recommendations.
Sometimes we need further clarification to ensure that we achieve the results we are pursuing.
Your final documents will be delivered to your client portal where you will have a chance to review your results. The post-tax return completion meeting is when we begin planning for the years ahead.
Get in touch with us today!
(970) TAX-1309
do*@do*****************.com
5313 N. County Rd. 11
Fort Collins, CO 80524
If you are looking for information on Integrated Financial Planning or Investment Advisory Services, please visit Narrow Path Financial.
Affiliations
