Throughout the year we pick up new clients – many from other accountants. We always review the prior work to see if there is anything that was missed or can be done to better your situation.
One of the recurring things we notice is that many accountants and tax preparers simply throw the numbers together and don’t think about how they affect you.
We work at a higher level than that. We do a full assessment every time we prepare a return for you.
We look at many items – not only to lower your taxes but to keep you out of the RED FLAG danger zone. For instance:
- We look at the audit potential of your return as to individual line items and the return as a whole.
- We consider your risk tolerance as to how aggressive you want us to be.
- We call you if there are any items that are questionable or require discussion.
- We review your financials before the returns are prepared to look for any unexpected numbers or ratios that may be a red flag.
- We review your tax basis and other technical issues to make sure that your losses do not get limited.
- We may recommend moves you can make to take advantage of expenses or losses you would not be able to take ordinarily.
- We organize your return and your businesses to take advantage of all the credits, deductions and losses we can.
- We make recommendations or perform tax planning services when we see opportunities to make changes that will lower your taxes.
As a business owner, there are many ways to organize or structure your affairs to get the best tax advantage without taking big chances with the IRS. This is where our experience and dedication really pay off for you.
Our job at Kallas Company is to help you maximize tax savings and help you create future wealth. For the greatest savings over time you need to plan ahead. Call us before you sell stocks, sell your business, buy a business or make any substantive changes to your financial situation.