Taxation

Income Tax Returns

Understanding the appropriate elections and documentation requirements necessary to the most effective election of federal tax form (1120 or 1120H) as well as understanding the intricacies of federal and California income tax law and exempt organization filing requirements. Just because your articles of incorporation say that your association is organized as a California non-profit mutual benefit corporation does not mean that the Internal Revenue Service and California Franchise Tax Board have granted your association exemption from income tax-something that is next to impossible for a homeowner association to get.

California Exemption Applications

How to successfully get your association an exemption from the $800 a year minimum franchise tax imposed on California corporations.

Income Tax Notices

Expertise in working with both the Internal Revenue Service and Franchise Tax Board to resolve income tax notices as well as the taxing authorities’ examination of previously filed tax returns. Successfully represented almost two dozen associations with their IRS tax return examinations (also known as IRS audits).

Other Tax Areas Of Expertise

• Federal Exempt Organization Forms 990 and 990T and California Form 109
• Local business tax returns (San Francisco for example)
• Property tax returns and the frequent erroneous assessment of property tax by counties
• Payroll tax returns
• Sales and use tax returns
• IRS Form 1099s
• Tax credits such as solar energy, energy efficiency or fuel tax
• Tax planning and research

Take Note of Clues that Suggest on Must Hire Tax Consulting Services in USA

It’s a well-known fact that when it comes to calculating tax everyone feels jitter down their spine. This is because even a single mistake may not only cost them huge but also will make the effort wasted. This is probably one reason why tax return services have been seen flourishing quiet too much these days.

What makes the situation get even worse, when people try to become jack of all trades and assume they know it all they overlook some knee factors. Thus, people taking up tax consulting services in USA have become one inevitable situation.

However, to guide them further, people may take note of certain clues and indications that may help them in realizing if they committing any kind of tax related mistakes.  Also they have reached an alarming state of hiring tax consulting services in USA.

If any dilemma prevails whether to hire tax return services or not, this indications will assist:

• Repeated errors: If earlier on the ground of varied tax rules, the calculation was different, when rules changes the calculation must change as well. However, despite of closely looking into it, the errors and mistakes are happening in a continuity. Then on may realize it’s time to get assisted.
• Changed spousal status: Theses tax return services providers are a pro and they understand that every situation is different. Say if one has recently got married or separated with their respective partners, they may have to incorporate certain changes in their tax dealings as well. And, who better it would to suggest then the experts themselves.
• Become an entrepreneur: People may completely ignore the presence of tax consulting services in USA as their business is too new to demand any tax related assistance or guidance. However that is not true, thus, they must be hired well in time.