"Your Personable Professionals, Servicing Your Small Business Or Personal Financial Needs"
Our organization does exceptionally well in tax planning, filing, preparation, and entity structuring. With expert knowledge and attention to detail, we provide personalized strategies to maximize benefits and optimize tax savings. Contact us today!
Tax Filing
We efficiently complete your taxes through effective communication and thorough information gathering. Asking the right questions, we ensure a comprehensive understanding of your unique tax situation, preventing overpayment.
Interesting Fact:
According to the Internal Revenue Service (IRS), as of the 2021 tax year, the penalty for failing to file taxes on time is typically 5% of the unpaid taxes for each month or part of a month that the return is late. The penalty can grow up to a max of 25% of the unpaid taxes. Additionally, if the failure to file is deemed fraudulent, the penalty increases to 15% per month, up to a max of 75% of the unpaid taxes.
Consulting
We're dedicated to simplifying tax and business complexities. Our goal is to empower you with knowledge about entity types, enabling informed decisions that align with your unique goals. Understanding your objectives, we assist in developing an optimal financial strategy.
According to a survey conducted by the Small Business Administration (SBA), about 30% of small businesses overpay in taxes due to improper entity selection. This means that for every $100,000 in revenue, these businesses may be overpaying taxes by an estimated $5,000 to $10,000 annually.
Tax Planning & Preparation
We proactively guide you through the upcoming tax season, analyzing past returns to enhance efficiency. Understanding your goals, from tax savings to home buying, we customize strategies for a smoother and more tailored process.
According to estimates from the IRS, millions of taxpayers overpay their taxes each year due to inadequate tax planning. The IRS reported that in a previous tax year, over 2 million taxpayers missed out on potential refunds, resulting in an estimated total of over $1 billion in unclaimed refunds. This demonstrates the financial impact of not having a well-structured tax plan and failing to take advantage of available deductions, credits, and exemptions.
BOOKKEEPING PACKAGES
BASIC
New to the practice scene? Let's ensure your financial foundation is strong!
$59.99
Monthly Recording, Classifying, and Reconciling for 1 Account
Up to 75 Monthly Transactions
3 Bi-Annual Financial Reports: Clear Explanations
Needed Email Assistance
ESSENTIAL
Seeking clarity on profits versus costs after expanding business operations?
$109.99
Monthly Recording, Classifying, and Reconciling for 2 Accounts
Up to 100 Monthly Transactions
3 Quarterly Financial Reports: Clear Explanations
Essential Email Assistance
PLUS
Growth exceeding expectations? Let's handle bookkeeping to sustain momentum!
Starting at $124.99
Monthly Recording, Classifying, and Reconciling for 2 Accounts
Up to 150 Monthly Transactions
3 Quarterly Financial Reports: Clear Explanations
Essential Email Assistance
Monthly Bank Reconciliation
$24.99
Location And Hours
OUR PRIMARY OFFICE
Located in: Cleveland Heights, OH 44118
~ Virtual financial services for remote support provided
Office Phone: (216) 320-9444
Email: taxchexinvesting@gmail.com
Hours: Monday - Saturday by Appointment
~ Typically available 10 a.m. - 7 p.m. EST
Frequently Asked Questions
Q: What are some key documents I need for tax preparation?
A: A: Some simple essential documents for tax preparation can include W-2 forms, 1099 forms, receipts for deductible expenses, bank statements, investment statements, two forms of I.D., and records of charitable contributions. It's best to consult with a member of our team for a comprehensive list based on your specific circumstances.
Q: How often should I review and update my bookkeeping records?
A: It is recommended to review and update your bookkeeping records on a regular basis, ideally monthly or quarterly depending on the amount of transactions you have, and the type of business(es) you own or operate. This practice helps you and us stay on top of your finances, identify potential issues early on, and make informed financial decisions based on accurate and up-to-date information.
Q: I am starting a new business, can you provide guidance on the right entity selection?
A: Absolutely! We can assist you in evaluating different business entity options (such as sole proprietorship, partnership, LLC, or corporation) based on factors such as liability protection, tax implications, and future growth plans. Our goal is to help you choose the most suitable entity structure that aligns with your business objectives.
Q: What would happen if I get audited by the IRS?
A: If you are audited by the IRS, we can provide great professional assistance. We will guide you through the audit process, help gather and organize the necessary documentation, and represent your interests before the IRS to ensure the best possible outcome.
Efficient Payroll Services for You
Optimize your business. Streamline payroll with us today for efficiency and growth tomorrow.
