Consultations
We Have a Plan That Works
When you hear the word “consultant,” what do you think of? You may see a smartly dressed man or woman making a presentation to a large group of people. Or maybe you imagine someone sitting behind a desk pouring over papers. But what about a CPA? What comes to mind when thinking about tax consultants?
In the age of tax reform, measuring your taxes can be a tedious job. But what do you actually know about the words that come out of “Mr. Tax Audit’s” mouth? More importantly, what do they really mean?
A Deeper Look Into Your Taxes
In order to gain greater insight into just how much you’re paying in taxes and why it may be worthwhile to consult with a tax consultant. A tax consultant is a professional whose expertise lies in federal and state taxation. These consultants offer guidance for individuals and businesses in many areas, including:
- Income Taxes
- Sales & Use Taxes
- Federal Excise Taxes
- Corporate Income Taxes
- Franchise & Personal Property Taxes
- Gift & Estate Taxes
- Estimated Payments
- Trusts & Estates
You Could be Eligible for a Substantial Deduction
After all, why should you have to pay full price for a house when you could be eligible for a substantial deduction? Not only can a consultant help reduce your tax liability, but they can also help provide detailed insight into how that money is being distributed across federal and state agencies.
Protect Your Assets
In addition to reviewing current tax codes, consultants may also assist individuals in the division of assets following death as well as offer guidance on issues such as:
- Tax Liens
- IRS Collections
- Wage Garnishments
- Home Foreclosures
- Confessions of Judgment
- Installment Agreements
Don’t let another year slip by without consulting with an experienced professional. Our team of experts will use their knowledge and expertise to ensure that you’re making the most of your income
Protect Your Business
Outstanding Tax also provides services to entrepreneurs. If you own a business, one of our tax consultants will help you with:
- Federal and state licenses
- State sales taxes
- Payroll laws
- Compliance
- Tax planning
- Analysis – financial reports
For more information about Outstanding Tax’s services, don’t hesitate to get in touch with an experienced member today. You will be surprised at how much you could save!
5 Benefits Of Tax Consultation:
- Reduce your tax liability
- Gain insight into how much you are paying to the government
- Ensure that you are getting all of the tax deductions that you're eligible for
- Stay up-to-date with current tax laws and codes
- Save money by reducing your taxable income, which reduces the overall amount of money that you owe in taxes
When it comes to taxes, having a little bit of knowledge can be a dangerous thing. And because the American tax code is so incredibly complex, your safest bet is to consult with a trusted professional before filing your return. A tax consultant will help you navigate the murky waters of state and federal taxation so that you can determine exactly what should be included in your total income.
Let Us Do The Hard Work
Of course, even if you’re feeling confident about your understanding of current tax codes, that doesn’t mean that your calculations are 100% accurate. Professionals know all too well how easy it is for people to make mistakes, especially when money is involved.
An experienced tax consultant will carefully review your return before filing it so that they can offer advice on how best to reduce your tax liability. For example, let’s say that you owe $4,000 in taxes but an error in your math results in you owing $5,000. If this happens, Outstanding Tax’s experts will file an amended return and send it back to the IRS for approval. This means that even though you owe the additional money and may be stuck with a balance for several months, you’ll ultimately receive a $1,000 refund.
The best part is that if you work with Outstanding Tax, all of this could happen before the end of January! This will allow you to begin spending your refund as soon as possible.
Why Choose Us?
Questions To Ask Yourself Before Your Consultation
- What am I looking for in a tax professional?
- What are my financial goals?
- How can an account help me achieve my financial goals?
- Do I know enough to file my taxes on my own?
- Did I receive any additional forms or documents last year?
- What can I do this year to lower my tax bill and keep more money in my pocket?
What You Should Bring to Your Tax Consultation
Your tax documents
Proof of income (W-2 forms, 1099s, and any other relevant forms)
Social Security number and date of birth
Spouse’s name and Social Security number
Your most recent pay stubs
Dependent information (name, date of birth, Social Security number & relationship to you)
A list of deductions you are eligible for
Last year’s tax return(s)
Investment information (interest earned, dividends received, and any investments or retirement plans that you may have)
Business or self-employment activity (balance sheets, profit, and loss statements, tax returns if you own a business)
Documentation of qualified expenses
Real estate information (deeds, purchase price & mortgage interest paid on your primary residence, and any rental property that you may own – we’ll need the address for each property).
What to Expect from Your Consultation
Getting to know you and your financial goals is our top priority. Our team of financial planners is committed to helping you reach all your goals, big or small. Whether it’s budgeting for college tuition with our price-conscious payment plans or saving up enough money in an emergency fund before retirement starts feeling too far away – we’ll take care of business smartly and efficiently so that everything falls into place smoothly and without stress.
We will begin your consultation by discussing your goals and asking us any questions you may have about our services and strategies. We will ask you questions about your past year’s activities and review last year’s tax return with you. We will explain the current tax code and how it may affect your taxes, and we will identify opportunities to minimize your taxes in the future.
We provide you with a customized plan so that you can enjoy a lower, more manageable tax bill next year. If applicable, we prepare an amended return on your behalf. This means that if you owe additional money, then Outstanding Tax is prepared to submit this for approval at no extra cost to you. You receive information about items that might need attention from other professionals, such as real estate agents or investment advisers, who have essential information related to your tax return or financial situation. In some cases, we may need to request additional information before giving you a more accurate estimate of how much money you could save.