Services
What I do
Car stategy
Must drive 300 miles; must spend more time for business for business than personal. More than 51% are business days. Example. You spend 5 days for business and 4 days for sightseeing.
302-4.201 How are my authorized en route travel days and per diem determined for relocation travel? Your authorized en route travel days and per diem are determined as follows: The number of authorized travel days is the actual number of days used to complete the trip, but not to exceed an amount based on a minimum driving distance per day determined to be reasonable by your agency. The minimum driving distance shall be not less than an average of 300 miles per calendar day. Your authorized en route travel days and per diem are determined as follows: The number of authorized travel days is the actual number of days used to complete the trip, but not to exceed an amount based on a minimum driving distance per day determined to be reasonable by your agency. The minimum driving distance shall be not less than an average of 300 miles per calendar day. An exception to the daily minimum driving distance may be made when delay is beyond control of the employee, such as when it results from acts of God or restrictions by Government officials; when the employee is physically handicapped; or for other reasons acceptable to the agency.
Tax Services
Individual Tax Services
Individual tax services are essential for individuals who want to stay on top of their tax obligations and avoid penalties. These services can also help individuals maximize their tax savings and ensure compliance with constantly changing tax laws.
Corporate & Partnership Tax Services
Corporate & Partnership Tax Services are critical for businesses of all sizes to ensure compliance with complex tax laws and regulations. These services can help businesses reduce their tax liabilities and optimize their tax planning strategies while avoiding costly mistakes and penalties.
Estate & Trust Tax Services
Estate & Trust Tax Services are essential for individuals who want to plan and manage their estate and trust tax obligations effectively. These services can help minimize estate taxes, protect assets, and ensure that the distribution of assets complies with applicable laws and regulations. Estate & Trust Tax Services also provide guidance to executors, trustees, and beneficiaries to navigate complex tax laws and regulations.
Home Office Deduction
- You get to deduct the cost of commute from your home office to work office
- You get to deduct cost of your home office ~$1500 per month or more (if using actual expense method)
IRS Publication 587 (https://www.irs.gov/pub/irs-pdf/p587.pdf) – exclusive use, regular use and have no other fixed location where you conduct substantial administrative/management activities of your trade or business.
A taxpayer who is an employee may deduct expenses attributable to a business use of a residence described in § 280A(c)(1) (https://www.irs.gov/pub/irs-drop/rp-13-13.pdf) only if that use is for the convenience of the taxpayer’s employer.
To claims this deduction: Fees for us to prepare: $500
- We will prepare the letter that will “Make your corporation write you a letter stating that you must find office space and that space may be in your home.” Do not rent the office in your home to your corporation.
- We will prepare the document that “Have your corporation reimburse your home office expenses to you as an employee business expense.”
- Complete IRS Form 8829 showing your home-office expenses for the year. Planning tip. Do not file this form with your tax return. Instead, attach the form to an expense report that you give to your corporation as the basis for corporate reimbursement to you for the home-office expenses.
Hiring your kids
- Under entity type of proprietorship: pays off both owners and children
- Under entity type of S or C Corp: pays off less because of payroll taxes
Internal Revenue Code Section 3121(b)(3)(A) service performed by a child under the age of 18 in the employ of his father or mother;
To claims this deduction: (only available to our annual clients due to payroll requirements)
- We will apply for an Employer Identification Number (EIN) for you
- Use quickbooks time or ADP time to require your child to clock in and out
- Document pay scale
- Pay with a W-2 payroll check
- Complete federal and state payroll forms: IRS form w-4; IRS form W-2, IRS form 941 and 940
What you need to maintain:
- Timecard (if not using ADP or Quickbooks Time)
- Fair market calculation for salary of your child
Tax Small Biz
QuickBooks Certified ProAdvisor for Tax Preparation
As a QuickBooks Certified ProAdvisor for Tax Preparation, I have the knowledge and skills to assist clients in managing their financial records and preparing their tax returns using QuickBooks. With my expertise, I can help clients streamline their financial management and ensure compliance with tax laws and regulations.