Strategic advice and services you can use throughout your tax preparation process.
At Wendroff & Associates, CPA we stay on top of the latest tax law changes to give you the best strategic advice before and during your tax preparation process. We look at your company’s goals to help you create strategies to capitalize on tax codes and grow your business successfully.
Your path to tax savings and compliance
Are you looking for expert tax preparation services for your business? Wendroff & Associates is here to help you navigate the complex world of taxes, ensuring compliance while identifying opportunities to save money and grow your organization.
We take a comprehensive approach to tax preparation, considering your company’s goals and working closely with you to create strategies that take advantage of tax laws and drive business growth.
Tax planning services for strategic success
During the taxable year (prior to the tax season), we recommend strategic tax planning with our team to help you get ahead of any surprises and strategically leverage tax codes to benefit your business.
Our tax preparation services include:
- Individual, LLC, Corporate and Partnership Tax Preparation
- Non-Profit Organizations
- State and Local Income and Sales/Use Taxes
- Consolidated Tax Returns
- Foreign Companies Doing Business In the US
- Trust and Estate Tax Preparation
Our IRS and state tax representation:
- IRS and State Letters
- Abatement of Penalties
- Amended Returns
Streamline your tax preparation process
We understand that tax preparation can be a stressful and time-consuming task. That’s why we offer helpful resources and guidance to streamline the process.
Consider the following steps to ensure a smooth and organized tax preparation experience:
Collect Important Documents: Gather essential documents such as W-2 forms, 1099 forms, investment statements, and records of deductible expenses.
Organize Your Expenses: Keep track of business expenses, home office expenses, and any other deductions you may be eligible for. Staying organized will make tax preparation much easier.
Review Changes in Tax Laws: Stay informed about any local or federal changes to tax laws or regulations that may impact your filings. Our team continuously monitors these changes and will guide you through any necessary adjustments.
Utilize Accounting Software: Consider using software, such as Quickbooks Online, to simplify the bookkeeping, accounting, and tax preparation processes. We can recommend reliable software options and guide you through their usage.
Seek Professional Assistance: As experienced tax professionals, we are here to provide expert advice and guidance throughout your tax planning and preparation processes. Don’t hesitate to reach out if you need assistance or have any questions.
Helpful tax preparation checklist
To help you prepare for your tax filing, below is a checklist of essential documents and information you may need:
- Personal Information: Social Security number(s), birth date(s), and identification documentation for yourself, your spouse, and dependents.
- Income Information: W-2 forms for employment income, 1099 forms for freelance or contractor income, and statements for investment income.
- Deductions and Credits: Records of deductible expenses such as mortgage interest, educational expenses, medical bills, charitable contributions, and any eligible tax credits.
- Health Coverage: Documentation of health insurance coverage, including Forms 1095-A, 1095-B, or 1095-C.
- Homeownership Information: If you own a home, gather documents related to mortgage interest, property taxes, and any home improvements.
- Rental property information: If you own a rental property, gather documents related to the purchase settlement statement, mortgage interest, property taxes, and any home improvements. You can use this template to assist with gathering your revenue and expenses.
- Self-Employment Information: If you are self-employed or own a business, gather records of income and expenses, 1099 forms for subcontractor payments, and any relevant business licenses or permits. You can use these templates to assist with gathering your business revenue and expenses as well as office in home expenses.
- K1 forms from being an owner in an S corporation, Partnership or Trust.
- Retirement Contributions: Documentation of contributions to retirement accounts such as 401(k), SEP or IRA.
- Education Expenses: Records of payments for tuition, student loans, or other education-related expenses.
- Childcare Expenses: Documentation of payments and provider information for childcare expenses.
- State and Local Taxes: Documentation of any state and local taxes paid, such as property taxes or estimated tax payments.
By following this checklist and working with our experienced tax professionals, you can ensure a smooth and accurate tax preparation process.
Need help preparing your taxes or getting answers to tax-related questions? Contact us today to optimize your tax strategy, streamline your tax preparation process, and maximize your business’s financial success.
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