Tax Planning & Compliance Services, Accounting Firm on Long Island (rockville centre) Email: Date: Tue, 01 Sep 03:51 AM http://www.accountantonlongisland.com/services.htm Services Tax Controversy Specialist Receiving a tax examination notice from the IRS or state and local governments can be a frightening experience. Being a tax controversy specialist over many years, I have the necessary qualifications to alleviate your anxiety. I have represented individuals, businesses, estates and trusts and non-profit organizations in dealing with these taxing authorities often with positive results, such as abatement or mitigation of assessed tax, interest and penalties, obtaining tax refunds and releases from liens and seizures – freeing up your assets for productive purposes. Tax Compliance and Planning Preparing tax returns is a “necessary evil” which should be handled by a trained professional. I have prepared individual, business, estate and gift tax, fiduciary, sales tax and not for profit returns over a more than 30 year period. My service includes the preparation of timely tax estimates and extensions and most importantly year end tax planning to mitigate your personal or business’s final tax liability. Estate and Financial Planning This is a very broad category covering many facets of your life. It includes setting up a personalized plan to mitigate your taxable estate and thereby maximize funds available to your family members, planning for your retirement using various tax qualified plans, providing for your children’s college education using various tax credits and deductions, budgeting to help you live within your means, providing sound investment advice, especially in these difficult times and accounting advice on how to set up a set of books and maintain them so as to develop financial statements useful for tax or credit purposes. I can provide you with all of these estate and financial planning services. Communication Tax legislation is often written in complex and confusing language. I believe it is important to translate that language so that is understandable and relevant to your needs. This includes identifying tax credits and deductions that apply to you and set up a plan so that you can take advantage of them. Communication of the above may be through personal contact, emails and newsletters or for large groups and organizations through tax seminars. Services Detail Tax Controversy Specialist 1. Representation before the IRS and state and local tax authorities 2. Contesting tax assessments by: a. Writing “Protests” which may result in: i. Abatement of tax, interest and penalties ii. Obtaining releases from liens and seizures – freeing up your assets iii. Tax refunds 3. Negotiating “Offers in Compromise,” a procedure which determines your ability to pay tax assessments and may result in a reduction in tax, interest and penalties 4. Responding to Tax Notices Tax Compliance and Planning 1. Preparing individual, business, estate and gift tax, fiduciary, sales tax and foundation returns 2. Preparing timely estimates and extensions 3. Year end tax planning to mitigate your or your business’ final tax liability Estate and Financial Planning 1. Setting up a personalized plan to mitigate your taxable estate and thereby maximize funds available to your family members through the use of trusts and lifetime gift giving 2. Planning for your retirement using various qualified plans such as Traditional IRA’s, Roth IRA’s, 401k or 403b plans, pension and profit sharing plans 3. Providing for your children’s college education through Hope and Lifetime Learning Credits, above the line education deductions, Educational Savings Accounts and Qualified Tuition Programs known as Section 529 Plans 4. Budgeting to help you live within your means by identifying possible new sources of income and nonessential costs that can be reduced or eliminated 5. Investment advice – In these difficult times it is essential to invest wisely, spread risk, balance your portfolio and consider your age and risk tolerance 6. Accounting advice – how to set up books and maintain them so as to develop financial statements useful for tax or credit purposes Communication 1. Explaining complex tax legislation in understandable language as it relates to you or your business 2. Identifying tax credits and deductions that apply to you and set up a plan to take advantage of them 3. Communication may be through personal contact, emails, newsletters or --for large groups and organizations -- through tax seminars |
