Business taxes are the number one area where the IRS and State Agencies look when auditing returns. It pays to have a professional on your team when the time comes to do business taxes. The cost of a professional is always less than even a small mistake and penalties and interest can be more than the original tax owed if things are not corrected in a timely manner.
Paul Duncombe specializes in helping you organize and plan your business taxes so the stress of having to wonder if and when the IRS will come is gone. We assist you in making sure you have all dedications and income calculated correctly so you can focus on working and growing your business.
At the Corporate level of taxes you are required by law to have, maintain and account for all aspects of your business. You won’t be getting a 1099 to file your taxes, and the IRS will expect an accounting program to be in place for income and deductions as well as financial statements including assets, basis, loans and owners’ equity. Failing to have accurate and up-to-date accounting can and will result in huge penalties and problems with tax returns.
We specialize in helping you maintain this level of accounting and record keeping, for all corporate entities. Corporations, Small Corporations, Non-Profits and Professional Service Corporations all have their nuances and require a tax professional who knows about the specific challenges your Corporations faces. Depending on your Company the tax advantages of having a Corporation can easily out weight the expense.
Trust & Estate
They say that the only sure thing in life is death and taxes, well here you are. Anytime there is a significant change in life you should talk to a tax professional. Death taxes are still in play and often require a tax return. Gift taxes and returns require planning or penalties and issues with basis often occur.
Past Due Returns
If you have fallen behind on filing or paying taxes we can help. We can look at your circumstances and find the best way to help to become current with the IRS and even assist you with payment plans or Offers and Compromises. Knowing that the IRS will not be chasing you for the rest of your life is a great feeling.