Tag: tax preparation service

How to Find a Reputable Tax Preparer Near You | Ingram Taxes

You may want more personalized help filing your tax return this year, and you have a wide range of options and resources.

A tax expert can make sure you get all the tax breaks you deserve, especially in a year where your tax situation may be very different than it had been in the past. Many tax professionals can also help you with tax planning that can save you money in the future.

What Kind of Tax Preparer Do You Need?

When choosing between tax preparers, one of the key factors to consider is their level of experience. They usually have different tiers of services, with some completing just your federal and state returns with little or no additional help offered. But if you had a few different jobs during the year, did some freelance work, started your own business or had other complicated tax situations, then you may need more help. If you’re not really sure what expenses are deductible, an accountant would be able to help you. They might find tax breaks applicable to your business that aren’t even clear to the IRS.

Anyone with an IRS Preparer Tax Identification Number can prepare federal tax returns. But you should consider the level of their experience and qualifications. Enrolled agents, CPAs and attorneys can represent clients before the IRS in audits, payment issues and appeals. The Annual Filing Season Program helps other tax preparers who have completed a specific amount of continuing education to prepare for the tax season. There are also PTIN holders who haven’t completed these certifications and, as a result, they can prepare tax returns but can’t represent clients in front of the IRS. The IRS Directory is the best way to find quality tax preparers near you. Tax season is just around the corner, so now is the perfect time to find one! Before you hire a tax preparer, ask family and friends for their opinions on who they’ve worked with in the past. Make sure to also do some research from reputable websites on the company that has been recommended to see if there are any complaints. If everything looks promising, you can then contact them for more details on their services.

Make sure your tax preparer can meet your needs. Do you just need them to file your return, or would you like them to help you with anything else? If you’re just starting out in business, for example, it might be helpful to work with a tax specialist – such as an enrolled agent or Certified Public Accountant – who can let you know about future deductions and tax-planning strategies. If you’re nearing retirement and have a lot of money in your tax-deferred retirement savings plans, it can be a good idea to meet with a qualified advisor who’s also skilled in financial planning and tax preparation. This way you can get professional advice about the most tax efficient way to withdraw from your savings.

Ask questions about the return so you understand what they’ve done and the credits and deductions they’ve taken, which can help you know how to take the tax breaks in the future. “A good tax preparer will explain each step of the process with a taxpayer and allow them to ask questions.” 

Inquire about their back-up support if you have any questions in the future. Avoid tax preparers who only operate a few months a year and will not be there after an IRS audit. In addition to protecting your data, you want to find a tax professional who can help you year-round in case you need to amend a return or if the IRS comes back with questions.

Conclusion: As you can see, there are many benefits to hiring a tax preparer. 

When you’re done filing your own taxes, you may find yourself making the same mistakes year after year. Hiring a professional can help save time and money, while also ensuring that your taxes are filed correctly. Here at IngramTaxes.com, we’re dedicated to helping all our clients receive the best possible results when it comes to tax preparation and filing.

Contact us today for more information about how we can help you! If you are looking for the best tax filing services, we can help. Get in touch by texting/calling us at +1 866-824-1440 or email us at info@ingramtaxes.com. Our professional team is available to take care of your needs and make sure you get what is rightfully yours.

Business Tax and How Does It Differ from Personal Tax?

Ingramtaxes.com

Whether you’re starting a new business or looking to expand your existing one, it’s important to understand your options when it comes to filing taxes. Tax filing is a complex process that requires considerable attention to detail. Most people don’t enjoy the idea of tax season, and they often put it off until the last moment. However, if you do your own tax preparation you can make crucial mistakes that will increase your tax liability and cost you more money. The first step in avoiding costly mistakes is knowing what to expect from your taxes.

If you can stay on top of what is happening with your business and personal taxes, it will be easier to file them on time and reduce your chances of getting audited. When do you file taxes? What’s the difference between business tax and personal tax? These are just some of the questions people ask when looking at filing their taxes. But it’s confusing for many to know what kind of taxes they must pay, or in which state. Business taxes are an important part of running any business. Taxes are an expense that every business must incur, and they vary depending on the type of business.

Business taxes can include corporate income tax, self-employment tax, employment taxes for employees, sales & use tax, excise tax and property tax. Every business owner needs to pay taxes but knowing the difference between personal and business tax can avoid a lot of headaches. Business tax refers to the taxes paid by a company or business on its earnings. It is different from personal income tax, which is the tax on an individual’s income. The two may look similar but they are in fact very different.

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The biggest difference is that personal income tax is based on your earnings while business taxes are based on your profits. For example: If you made $100,000 in profit last year and $60,000 in profit this year, you would be taxed $20,000 in business tax instead of paying personal income tax on the full $100,000 because the government taxes businesses on their profits. On the other hand, personal taxes are individuals who owe money on their earnings from wage-earning jobs or self-employment. Personal taxes include income tax, self-employment tax, SEP contribution etc. They file a single form at the end of each year, which handles all these types of taxes in one go. Business tax is a term that encompasses several taxes that a business must pay. Types of business taxes can range from income tax, employment related taxes, and sales tax. Sales tax is required by law in some countries or regions, while income tax may be voluntary or mandatory depending on the country. This includes federal, state, and local level taxes on the profits from the sale of goods or services by a corporation or other legal entity to external customers. Employment related taxes are only required by law if you have an employee at your company.

Business tax is a financial obligation that a business or organization must pay in order to conduct its business. Businesses must file the income tax return every year because it tells the government how much income was generated in a specific period. Businesses also must pay the employee withholding taxes, which are meant for individuals who work for them. Businesses need to register with their state and federal governments for business tax purposes and pay both state and federal taxes accordingly. They also need to file various forms with the government and maintain records about their payments and expenses. Business tax refers to the taxes paid by a company or business on its earnings. It is different from personal income tax, which is the tax on an individual’s income.

The two may look similar but they are in fact very different. Conclusion: At the end of the tax year, it’s tempting to put off tasks such as filing taxes until last minute. However, when you use a tax preparation service like ours, you can rest assured that your taxes will be filed on time without any effort on your part. We hope these tips have been helpful! If there is anything else we can do for you, please let us know by following our Instagram page or visiting our website today. The IRS has a lot of information available to help you with your personal tax filing, but it takes some time to understand the process. If you are looking for assistance to file your taxes and make sure that you get all the deductions that you deserve, contact us today.

If you would like more information on this subject or any other business consulting services we offer, please get in touch today by texting/calling us at +1 866-824-1440 or email us at info@ingramtaxes.com.

Here At Ingramtaxes.com we look forward to helping you get your company set up and ready to pay taxes this year!

5 Most Important Tax Deductions for Bloggers | Tax Write-Offs

There are many tax deductions that bloggers are able to use to when it comes down to tax season. This consists of conventional work supplies, like paper, pens, food, travel, and all of the above. All of these items are tax deductible charges for your return. 

1. Travel

When you drive to work, it is consider to be a business expense since it ‘s the way you make a living. With that being said, you may deduct the mileage used on your cars, maintenance, and even gas. Make sure you keep your receipts accounted for when you do, it’s always good practice when you keep track.

2. Food, Business Dinners

Any time food is being purchased for your business, that is also included as a write-off. An example of this could be a dinner you are having during a networking event. Another possible situation would be getting lunch on your way to work. 

3. Clothing

Suits, ties, and any work gear needed to maintain a professional look business. Is definitely what you call a deduction. You could be purchasing a shirt to where to an event, as long as it is used for your business, it is considered a deduction.

4. Internet Bills

Your very own internet is considered a tax deduction. Just for the simple fact that you use it to operate your phone to make business calls, or to write your blogs. It is a necessary component to your business establishment.

5. Home Office 

Working from home qualifies the self-employed for a home office deduction on their taxes. Taxpayers may only deduct certain home expenses on their tax return, and with more people working from home than ever before this works in favor of the freelancers and self-employed.

If you have any questions about these deductions, we can help at www.ingramtaxes.com. When you sign-up you get a free tax consultation. Contact us today or sign-up here!