4 Different Tax Services A Professional Tax Firm Can Offer You
When it comes to doing your taxes, you don't have to do them alone. Tax firms offer a range of different tax services to make sure your financial needs are taken care of. Here are a few different services a tax firm may offer you.
Service #1: Tax Preparation
One of the most common services to offer is tax preparation. With this type of service, you bring in all your tax-related documents, and they will fill out your taxes for you. Most firms will work to minimize or eliminate your tax liabilities as much as possible so you are not left with a large bill to pay the IRS at the end of the process.
They will make sure that all the right information is included in your taxes, from your income to all relevant deduction information. They can prepare your federal, state, and local returns. You don't have to be a business owner or rich to get help with tax preparation; most people use some sort of service to assist with this task.
Service #2: Tax Strategies
Second, there are times when you may want to discuss strategies related to your taxes, and a financial firm can help you with that.
They can look at your situation as an individual and advise you on things such as how to pay off your loans or how to put money towards your retirement that will help you with your returns. If you run a business, they can analyze your business structure and activities and come up with ways that you can stay compliant with tax regulations while reducing your tax burden.
Service #3: Tax Audit
Third, if you ever get an audit letter from the IRS that your personal or business taxes are going to be audited, you are going to want to get to work right away.
A professional will be able to help you get together all the paperwork you will need for the audit process. You can even have the IRS work directly work with the licensed agent who prepared your taxes as they go through the audit process. It can be nice to have a professional on your side when you are going through an audit.
Service #4: Tax Relief
Fourth, if you find yourself in a position where you owe money to the IRS, a tax firm can help you figure out how to pay back the IRS. They can prepare paperwork to help you get an installment agreement. Or they can prepare paperwork to help you get an offer in compromise. They will help you figure out a feasible way to pay back the IRS.
These are just some of the services a tax firm can offer you. If you need help in any way with your taxes, they will be able to assist you.
To learn more, contact a resource that offers tax services.