Professional Tax Return Preparation

Our Tax Services Division: Winter Tax Service,  prepares and E-Files federal, state and international tax returns where available at a competitive cost. Today’s tax laws are so complicated that unless your financial affairs are extremely simple, chances are you will benefit from at least occasional help from a tax professional. It is too easy to overlook deductions and credits to which you are entitled if you prepare only one return a year. Even the use of computer software is no substitute for the assistance of a seasoned tax preparer.

We prepare thousands of tax returns every year. We know what to look for when your return is prepared. More importantly, you will have someone to answer your questions during the rest of the year as our Main office in Riverside is open year round. And we can put you on our mailing list to receive timely tax, business, and financial advice if available in your area.

Your Tax-Cutting Checklist

Whether you’re a wage earner, an investor, a business owner, or all three, you should use the tax-cutting benefits available in the tax law. There is little to be gained by paying more tax than the law demands.

Identify the tax-savers for which you qualify. Here’s a tax-cutting checklist to get you started. Check the list to see if there are tax breaks that you are overlooking.

For Individuals:

  • Roth IRA
  • Roth 401(k) if employer’s plan permits
  • Rollover to Roth IRA
  • Tax-deductible IRA
  • Child tax credit
  • Child care credit
  • Earned income credit
  • Annual gifts to reduce estate
  • Education savings accounts
  • Education expenses
  • American opportunity tax credit
  • Lifetime learning credit
  • Bunching deductions
  • Flexible spending accounts
  • Health savings account
  • Donating appreciated assets instead of cash
  • Qualifying property for personal residence gain exclusion
  • Best filing status
  • Shifting income or deductions from year to year
  • Adoption expense credit

For Investors:

  • Tax-free municipal bonds
  • Long-term capital gains
  • Rental property
  • Tax-free exchange
  • Low-income housing credit
  • Small business stock rollover

For Businesses:

  • Home office deduction
  • Keogh plan
  • SIMPLE plan
  • SEP
  • 401(k) plan
  • First year expensing of business equipment
  • Year-end bonuses
  • Bad debt write-off
  • Disabled access credit
  • Other business tax credits
  • Tax-free exchange

For your convenience, we have provided a FREE tax organizer. Print it out, fill in the sections that apply to you, and either submit your request online, email or bring it with you to your tax preparation appointment. Contact our office at 951-354-5022 if you have questions or want more information on these and other strategies that could reduce your taxes.

November 23rd, 2015 by Winter & Winter Insurance