Small Business Tax Preparation Services in Rolesville
When it comes to small business taxes, you have two goals. First, you want to make sure you're reporting everything accurately and paying the correct amount so you don't get penalized. Second, you want to take advantage of your deductions and pay as little as possible.
In order to achieve those goals, having a thorough knowledge of the state and federal tax codes, along with the experience to apply specific codes to your unique situations is necessary. Even with commonly used tax software, it's easy to make mistakes and miss out on deductions when you prepare your own taxes.
Experienced Tax Preparation for Rolesville Businesses
At C.E. Thorn, CPA, PLLC, we offer tax preparation and small business accounting services to Rolesville businesses. Led by Carson Thorn, our experienced CPA can help you cut back on the time and stress involved in taxes while making sure you pay as little as possible using ethical tax practices. We offer customized solutions that not only involve preparing your taxes, but we can also walk you through the process to address any questions and explain any concerns you might have.
Small Business Tax Preparation Checklist
To help you with your return and minimize your owed amount, you'll want to have as much documentation as possible regarding the following deductions:
- Home office deduction
- Keogh plan
- SIMPLE plan
- SEP
- 401(k) plan
- First year expenses of business equipment
- Bonus depreciation
- Year-end bonuses
- Bad debt write-off
- Disabled access credit
- Other business tax credits
- Tax-free exchange
Individual Tax Preparation Services
If you have a sole proprietorship, LLC, or simply want to turn over both your business and personal tax preparation needs to an experienced accountant, we can help. We can consider your income from your small business and maximize your personal deductions and help you get the largest return possible.
Individual Tax Preparation Checklist
- Roth IRA
- Rollover to Roth IRA
- Tax-deductible IRA
- Child tax credit
- Income shifting to children
- Child care credit
- Earned income credit
- Lifetime gifts
- Education savings accounts
- Education expenses
- Hope scholarship credit
- Lifetime learning credit
- Bunching deductions
- Flexible spending accounts
- Health savings account
- Donating appreciated assets instead of cash
- Qualifying property for personal residence gain exclusion
- Wisest filing status
- Shifting income or deductions from year to year
- Adoption expense credit
Investor tax preparation checklist:
- Tax-free municipal bonds
- Long-term capital gains and dividends
- Rental property
- Tax-free exchange
- Low-income housing credit
- Small business stock rollover
Contact Us to For Tax Preparation Services in Rolesville
We've worked with business owners for over three decades, providing comprehensive tax preparation and accounting services. We take pride in helping hundreds of clients each year find deductions and tax breaks and reduce their payments. To learn more about our services, give us a call at 919-420-0092 or fill out our contact form below.
Frequently Asked Tax Preparation Questions
How to select your tax preparer?
If you are unsure of what to do on your taxes, a tax preparer is someone who is there to help you prepare your tax return and answer tax questions. While everyone has the option to do your own taxes, a professional tax preparer can help you maximize your deductions and get the best refund possible. So if you’re looking for a CPA in Rolesville, North Carolina to fulfill your accounting and tax preparation needs, you may want to outsource to one CPA firm that can do both.
Are tax preparation fees deductible?
In many cases tax preparation fees are a possible deductible business expense but are not a personal tax deduction. So it is best to speak with your accountant to decide which fees can be considered a deduction.
Is it worth paying for tax preparation?
No matter how large or little your income is filing taxes by yourself can be complicated and confusing, which is why many individuals choose to pay for professional tax preparation services. But many wonder if the investment is worth it? The true answer depends on your individual tax situation. If you have a simple tax return, you may be able to save money by doing your taxes yourself. However, if you have a more complicated tax situation, it may be worth paying for professional help. A tax preparer in Rolesville, North Carolina can ensure that you take advantage of all the deductions and tax credits you’re entitled to, and they can also help to identify potential problems that could trigger an audit.
