The quality of tax return preparation makes all the difference when it comes to taxes. Tax returns are expected to be completed accurately. Due diligence as to accuracy is expected from both tax return preparers and taxpayers as well. Unknown to most tax return preparers,

IRC 6662 –imposition of accuracy-related penalty on underpayments provides for a 20% penalty of the underpayment, absent of reasonable cause –not a small amount by any means.

Tax Return Preparation is the time to audit-proof your tax returns by compiling the appropriate documents to comply with the substantiation requirements of the Internal Revenue Code.

Individual
We will review your individual situation to make sure that all applicable credits and deductions are correctly applied in your Form 1040 and appropriate schedules.

Business
We prepare business taxes for regular C Corporations (Form 1120), S-Corporations (Form 1120S), and Partnerships (Form 1065). Delaying the filing of business tax return can be very costly as it can involve huge penalties. Domestic corporations must file in income tax returns on 1120s whether or not they have taxable income and so must limited liability companies with more than one member.

Nonprofits
If you operate nonprofits and fail to file a tax return for three consecutive years, you will automatically lose your nonprofits status both federal and state. Don’t delay. Call us.

NYS Sales Taxes
If you’re registered for sales tax purposes in New York State, you must file sales and use tax returns quarterly, part quarterly (monthly), or annually with the department. Even if your business did not make any taxable sales or purchases during the reporting period, you must file your sales and use tax return by the due date.