Tax season is almost here, and you do not want to scramble to find a tax preparer near you at the last minute or rely exclusively on DIY accounting software.
If you run your own business or have a side gig in Parker, now is the time to prepare yourself for the upcoming tax cycle.
My name is Curt Carey. I live in Parker, Colorado with my wife and children, where I run a successful accounting firm called Peak Accounting Service, LLC.
Local tax preparation and tax planning is our specialty. We have a team of trusted Parker accountants with over 50 years of combined experience at getting businesses like yours maximum tax savings!
Here are just a few reasons why early tax preparation and planning makes sense for your small business:
- Stay on top of your finances and out of trouble with state and federal agencies by providing early tax preparation and planning.
- Tax planning is a great investment opportunity by helping you develop strategies to maximize your earnings.
- Planning for tax season is the best time of year to go over financial goals with your tax consultant.
Stay on top of your finances and out of trouble with state and federal agencies by providing early tax preparation and planning.
Tax preparation services can keep you out of trouble with the Internal Revenue Service (IRS).
One thing that everyone knows about taxes is that if you fail to pay them on time or if they are filed incorrectly, it can lead to big trouble down the road.
Government agencies can track down people who don't pay their taxes.
Getting in trouble with state and federal agencies doesn't just mean fines and penalties — it also means your credit score will take a hit and could make loans or other types of financing difficult or impossible to be approved.
It's best to avoid these problems by paying what you owe when you owe it. A good tax planning service, like Peak Accounting Service, can help ensure that you're playing by the rules and keeping yourself and your small business out of trouble with government agencies.
With so many different federal and state tax forms out there, it's hard to know which ones you need to fill out. You might need to file a W-2 or 1099 with your local government office. If you don't do it correctly, you could face fines or penalties for failure to file your taxes on time.
Also, a professional tax consultant will make sure that you have all the necessary documentation on hand before getting started. For example, you'll want copies of past tax returns, proof of income, proof of residency, social security cards, bank statements, property deeds, and more.
Tax planning is a great investment opportunity by helping you develop strategies to maximize your earnings.
Tax planning is one of the most important things that Colorado businesses can do to take control of their financial situation.
For example, a good tax strategy can help small businesses earn more, save more, and even reduce tax liability, all by managing your business accounting throughout the year rather than waiting until tax season is upon you.
Tax planning is a process of identifying and implementing actions to reduce the amount of taxes paid and is an incredible investment opportunity as it can help you develop strategies that will maximize your earnings.
For most people, tax planning starts with annual budgeting. By prioritizing spending and assigning funds to specific expenses, you can target those areas that will save you the most money come tax time.
Tax deductions are one area where businesses in Parker often overlook opportunities to save money. Every taxpayer can reduce their taxable income by claiming various tax deductions including:
- Childcare expenses
- Charitable contributions
- Student loan interest payments
- Health insurance premiums paid during the year
- Self-employed health insurance premiums paid during the year
- Home office expenses (deductions vary by state)
If you're self-employed or own a business in the Denver metro area, then you know all too well how complicated tax preparation can be.
For example, there are different forms that must be filed for sole proprietors, partnerships, corporations, S corporations, trusts, estates, and even for other types of small businesses that provide professional services.
In addition to preparing your personal taxes, you also have the option to file quarterly estimated taxes with the IRS throughout the year.
We can help you identify early tax planning opportunities so you can reduce your tax burden.
Planning for a tax season is a great time of year to go over financial goals with your tax consultant.
Tax season is an excellent time to plan for the future. The start of your tax season can be a great opportunity to review your tax-related goals with your tax consultant, which may include the following:
- Does your income match your expenses?
- Do you have an emergency fund?
- Are you saving for retirement?
- Are you contributing to your child's college education?
- Are you paying down debt?
- Are you on track to meet your financial goals?
Your tax consultant can help facilitate conversations about these personal and business goals and can help keep you on track throughout the year.
Our team of tax experts at Peak Accounting Service has years of experience organizing receipts, calculating deductions, and filing electronically, so they don't have to worry about sorting through business paperwork at the last minute.
Takeaways
If you are thinking about your year-end tax preparation, the time is now!
Our professional tax consultants at Peak Accounting Service can help maximize your small business 2021 taxes and keep your hard-earned money in your pocket.
Plus, we can efficiently handle the hassles of taxes early on, which leaves you with more free time to grow your business.
Here are just a few reasons why early tax preparation and planning makes sense for your small business:
1. Stay on top of your finances and out of trouble with both state and federal agencies by providing early tax preparation and planning.
2. Tax planning is a great investment opportunity by helping you develop strategies to maximize your earnings.
3. Planning for a tax season is a great time of year to go over financial goals with your tax consultant.
Go over all the benefits of early tax preparation and planning with a local tax consultant in Parker, CO by clicking here now.
