Many business owners and individuals who receive 1099 income are extremely frustrated with the amount of taxes they currently pay. Most either try to do their taxes themselves or they have a preparer who doesn’t claim all available deductions. Many businesses are also set up incorrectly or in a way that is not beneficial to the taxpayer, which also leads to owing more in taxes each year!
That’s where Polston Tax & Accounting can help! Our team offers everything you need to make sure your business is maximizing deductions, meeting deadlines on time, and doing everything necessary to keep you out of tax trouble while paying as little in taxes as possible. Here’s how we can help:
- Tax Planning Meetings:
Too often we meet with clients who have never been advised of all the essential ways they can save money on taxes. This can stem from their business not being structured correctly or deductions that they never even considered! Many times, clients have even had tax preparers advise them NOT to claim certain deductions they are rightfully owed. When you come in for your Tax Planning meeting, we will review your tax returns, discuss in detail every aspect of your business, and put a plan in place to reduce your tax burden.
- Monthly Bookkeeping Services:
Our team of Accountants work diligently to ensure your accounting is consistently current. This allows you to know each month exactly what income has been received and what expenses have been paid. This information is crucial in making proper business decisions as well as knowing how to improve your tax situation before the end of the year.
- Payroll Processing and Reporting:
Because there are multiple filing requirements not only with the IRS but also State entities, our Accountants can save you time and relieve stress! Payroll can be messy and costly if done incorrectly, so let us do it for you!
- Tax Return Preparation for Individuals and Business:
Our team of Tax Preparers has incredible knowledge and experience in hundreds of industries and can make sure your returns are filed timely, correctly, and in a way that’s most beneficial to you and your business.
- Quarterly Estimated Tax Calculations:
We don’t want you to be surprised when you get your tax return. Our team of Tax Prepares will calculate your estimated tax return each quarter to ensure you can make decisions in 4th quarter that will help reduce your tax burden before the years ends.
- 1099 Preparation:
Unfortunately, it’s not uncommon to see business owners who are inappropriately filing 1099s for their contractors. Considering the IRS penalties for these incorrect or late filings just increased, let us help you make sure this is done accurately and timely!
- Sales Tax Reporting:
Every State has different rules for Sales Tax which can be tremendously overwhelming. Our team is incredibly knowledgeable when it comes to these rules and can help make sure you don’t see huge penalties for incorrect sales tax reporting.
If you’re too busy to worry about tax and accounting for you and your business, we understand! Let us help you. Call us to schedule your free Tax Planning meeting today!