Los Angeles Tax Services

In addition to tax return preparation, we offer tax planning services in order to proactively maximize your income with tax-saving strategies. Our highly trained accountants know the ins and outs of tax rules and regulations. We provide comprehensive tax assessments for individuals and businesses in order to develop a customized tax plan that will ultimately reduce your overall financial obligations and increase your assets.

Reading and comprehending tax notices can be a challenge for many taxpayers who already have a busy schedule to contend with. Don’t waste your valuable time being stuck on hold while trying to connect with Federal and State tax agencies. Instead, engage our team to communicate with them on your behalf. We’ll help you understand why you’re receiving tax notices and address them in a timely manner.

Dealing with tax debt can be stressful and tricky, especially without knowledge of the various tax debt resolution options and programs offered by Federal and State tax agencies. Often times, taxpayers will overwhelm themselves by attempting to tackle tax debt relief on their own. Save yourself the headache, and let us assist you in finding the best resolution tailored to your unique situation. We can help with Offer in Compromises, Installment Agreements, Penalty Abatements, Liens and Levies, and more!

The threat of an IRS audit evokes fear in many American taxpayers. Audits can be time-consuming, confusing and intimidating for individuals who lack comprehensive knowledge on tax law. The value of having an expert CPA on your side can’t be underestimated. Our accountants have experience working with IRS auditors. We can gather and prepare the correct documentation for your audit and communicate with IRS representatives on your behalf, ensuring a smooth process. We take the worry and hassle out of the audit experience for our clients.

In the realm of taxes, only figures and deadlines reign! People and businesses alike may find tax season a stressful time, with the need to maximize deductions and file accurate returns taking a toll on their minds.

This is where tax preparation services come in, to provide the much-needed lifeline of assistance in managing the complexity of calculations, rules, and paperwork. Tax preparation services vary, ranging from online tax software to certified public accountants, catering to various budgets and needs.

Read on as we delve into the subject of tax preparation services and learn how you can leverage them to maneuver the complex tax world.

The Role of Tax Preparation Services Providers

Specialists who provide tax preparation services comprise qualified financial experts, lawyers, and qualified accountants who have a good grasp of the field of tax and comprehend the IRS norms and laws. These experts can work alone or through associations, companies, or businesses.

Typically, these professionals help address your tax-related issues at a fee.  They operate under the supervision of the IRS, which issues them preparer tax identification numbers (PTIN) – certification for anyone who provides federal tax preparation services. 

What Do Tax Preparers Do?

Tax preparers help with general tax forms, including preparation and filing. Aside from these essential services, they can also represent you before the IRS in a tax court or an audit. Nonetheless, the degree to which a tax preparer can help is determined by their qualifications and whether they’re entitled to representation privileges.

We can say that tax preparers have two masters to serve: the IRS and their clients. Other than assisting clients in lowering their tax burden, they must also help them comply with federal and state tax codes.

So, despite being contracted to service their clients, tax preparers should also recognize their responsibility to the IRS rather than assisting clients in preparing and filing phony returns or breaking other laws.

Importance of Tax Preparation Services to Individuals and Businesses

There’s no debate that high expertise and precision are necessary for business or work-related tax management. Furthermore, the US tax system is one of, if not the most sophisticated in the world. It involves many legal formalities, particularly for business tax liability calculations. For these reasons, most people and businesses hire a tax preparer to manage their tax-related transactions. 

Better put, contracting a tax preparer has numerous relieving benefits, including:

Save Some Extra Cash

Tax preparers stay current with the constantly evolving tax code and regulations. This means they know which actions to take (and what to avoid doing) to save you the most money. And the best part is they do all of this and, at the same time, guarantee full compliance with the IRS.

Furthermore, they are well-informed on all the credits and tax breaks you may qualify for. Tax preparation fees may sometimes be refundable, saving you even more money down the road! 

Alleviate the Burden

Some tax returns may be a bit intricate. For instance, a small-business owner who itemizes his tax write-offs must file and submit the IRS 1040, Schedule SE, Schedule C, Schedule A, etc. And let’s remember that each form necessitates different information from the taxpayer’s accounts, such as the figures on 1099-INTs or 1099s.

Finding your way through such a tax return takes time, and the likelihood of making an error grows with every form to be filled out. Luckily, you can ease his burden by leveraging a professional tax service.

Minimize Errors

The IRS maintains a list of the most prevalent tax mistakes. Simple math errors, inputting transactions on the wrong line, and computation errors when calculating tax liability are all on the list.

A simple slip-up on your return may delay reimbursements owed to you. And suppose you commit an error that leads to tax liabilities, fines, and interest will accrue from when you filed the returns – you don’t want that.

Admittedly, no tax expert is flawless. However, employing a professional tax service is prudent, as you’ll get to reduce the risks of making errors on your tax return.

Assistance with Audits

The IRS audits many tax returns annually, and it’s good to acknowledge that your accounts aren’t immune to these audits. 

When preparing tax returns, a tax advisor considers these vague scenarios and identifies the areas that require extra careful attention. After considering all options, he drafts responses, which will prove helpful during an audit and guarantees you’re well-presented before the authorities.

Prevent Undesirable Consequences

When finalizing filing your return, you affirm that the information provided is accurate and true to the best of your knowledge. So, if your return is subjected to an audit and the IRS discovers inaccuracies, you may face considerable legal repercussions.

Having an expert draft your tax return protects you from potential liability. However, always exercise caution. As previously said, any tax adviser can make errors. So, ensure that you inspect the return and ensure they got all figures correct.

Why Choose Neumeister & Associates for Your Tax Needs

Employing a competent tax preparation service to manage your yearly tax return is among the smartest moves you can make for your business and yourself. You get to avoid the burden that threatens to burden you every spring and save yourself money and time in the long term.

But to maximize the many advantages a professional tax preparation service provides, you must hire one of, if not the best, there is. You need a knowledgeable, reliable, and experienced tax preparation service. Well, that’s exactly what our tax professionals at Neumeister & Associates are all about.

Even better, we offer more than just helping you prepare your tax returns and meet tax compliance. We also offer personalized client service, audit representation, and provide strategic tax planning services to help you preemptively maximize your income and minimize liability, among other services.

Plus, our highly qualified CPAs and advisors are well-versed in all the tax rules and regulations. So, you can trust us to handle all your tax concerns with the utmost professionalism. If you are seeking tax services in Los Angeles or tax preparation services in Burbank, don’t hesitate to contact us today for all your tax needs.     

Neumeister & Associates, LLP has over 20 years experience serving the forensic accounting and business management needs of Burbank, CA and the surrounding areas of Los Angeles County. If you need assistance managing any aspect of your business’s finances, we want to hear from you.

Please fill in this form or call (818) 478-3052 and let us know how we can help you. We will happily offer you a COMPLIMENTARY initial consultation to determine how we can best serve your needs.

We look forward to being in touch!