Tax Preparation Services Brandon, Fl


Click for a Free Consultation
Tax Preparation Services Brandon, Fl

Tax Preparation Services

What is Tax Planning?

Tax planning is the analysis of a financial situation or plan to ensure that all elements work together to allow you to pay the lowest taxes possible. A tax efficient plan minimizes how much you pay in taxes.

Tax planning could be simple, such as making sure a taxpayer has enough withholdings to avoid tax estimate underpayment penalties, to incredibly complex scenarios, for example planning for a capital liquidation event.

Our experienced tax professionals analyze each and every one of our clients’ personal and financial situation. We get the full story in order to prepare the most advantageous tax plan to lower their tax liability.

Tax Planning for Small Business Brandon, Fl

Many small business owners ignore tax planning and don't even think about their taxes until it's time to meet with their accountants once a year. Tax planning is an ongoing process and good tax advice is a valuable component of every successful business. Our tax professionals meet with our clients monthly to review their financial statements and discuss advantageous tax planning ahead of time in order to implement those strategies in a timely manner.

There are infinite tax planning strategies available to small business owners. Some are aimed at the owner's individual tax situation and some at the business itself, but regardless of how simple or how complex a tax strategy is, our tax planning goals include:

  • Reducing the amount of taxable income
  • Lowering your tax rate
  • Controlling the time when the tax must be paid
  • Claiming any available tax credits
  • Controlling the effects of the Alternative Minimum Tax
  • Avoiding the most common tax planning mistakes

Reduce Your Taxes with Smart Tax Planning

Effective tax planning implements strategies to lower taxable income and maximize deductions. With the Tax Cuts and Jobs Act of 2017, many taxpayers assume they will not be able to itemize deductions. Our tax professionals are taught to analyze every situation and turn every stone to ensure our clients are taking advantage of every tax credit and deduction that they qualify for.

We meet with our clients at the beginning of every tax year so that they are aware of the strategies they can implement throughout the tax year in order to take advantage of every opportunity available to them. Meeting and discussing with our clients is an imperative part of our tax planning process allowing us to be verse in our clients personal and financial situation and making sure we create the best possible tax plan for our clients.

Why Choose Us For Your Tax Planning, Consulting, & Preparation in Brandon, Fl?

Our tax professionals make sure they are up-to-date on all of the tax laws and changes to tax laws. Tax laws change every year and can be confusing to interpret. Freshwater prides itself on staying current and obtaining a clear understanding of tax law.

We do not just prepare tax returns once a year for our clients and then wait until the next year to see them again. Our tax planning process is a continuous process throughout the year with reviews and consultation being provided to our clients throughout the year. Effective tax planning leads to tax returns prepared and submitted advantageously leading to tax dollars saved.

Individual Tax Returns:

Our tax professionals are trained to provide tax advice to lower taxable income and maximize deductions.

We help identify whether our clients qualify for credits such as the American Opportunity Credit, Lifetime Learning Credit, Earned Income Tax Credit, Child Tax Credit, Energy Tax Credit, Credit for the Elderly or the Disabled, Saver’s Credit and many more. In addition to tax return preparation, we also offer electronic filing (e-filing). Individuals taking advantage of e-filing and direct deposit typically receive their refunds twice as fast as returns filed on paper.

Business Tax Returns:

Business tax returns include 1120 for Corporate Tax Returns, 1120S for S-Corp Tax Returns, and form 1065 for Partnership returns.

Our tax professionals meet with our clients to discuss tax strategies available to them including but not limited to strategies to pertaining Section 179 deduction, Self-Employed Health Insurance deduction, Section 105 plans and Special Depreciation Allowance.

If you choose our small business annual package which includes the bookkeeping services, our tax professionals ensure that all of your business expenses are accounted for and are represented on your tax return. Don’t overstate your income on your income tax return. Make sure that all of the expenses you have paid for related to your business are included on your tax return lowering your taxable income.

Our tax professionals have experience in running their own small businesses. We have heard stories from our clients on how their previous tax preparer grossly overstated their income by including items that should not have been reported as income for their business. This led to an overstated tax liability based on incorrect financial information. Our CPAs in Brandon, Fl make sure they take the time to understand the complexities of the business and make sure the proper income and expenses are reported. This ensures that our clients do not overpay their taxes.

Tax Preparation & Planning Consultation

Allow us to help you prepare an efficient and advantageous tax plan and prepare tax returns that minimizes your tax liability to the lowest extent available through tax law. Request a free consultation with one of our certified enrolled agents or Certified Public Accountants today!