Tax season is ramping up right now. The IRS began accepting returns on Monday, January 23, which means many of you are looking to get your house in order and get your taxes filed. You may be wondering what the benefit is of using a tax professional versus doing it yourself. And if you DO decide to use a professional, what makes Gagliano Associates a better choice than say the kiosk inside WalMart? Well, for one thing, we offer a variety of services that many of the large chains don’t offer. We focus on quality, not quantity. But we also provide a number of services that many of the other professionals in the area do not.
S Corporation Tax Preparation and Partnerships
One of the services we provide which others don’t is tax preparation for S-Corps and small partnerships. What is an S-Corp? Well, I’m glad you ask! It is a type of business where corporate taxes, losses, deductions, and credits are passed onto shareholders for federal tax purposes. In plain English that means shareholders bear the brunt of liability on their personal income taxes. But it also means that they are taxed at their individual income rates. For a corporation, it reduces the tax liability.
Gagliano Associates handles tax preparation for small S-Corps. By small, I mean we handle taxes for S-Corps which have only a few members who takes an S election. This saves on taxes because members are required to do payroll. Any leftover profits are distributed as dividends and aren’t subject to self-employment taxes.
Payroll Services (Only for S-Corp Clients)
Did you know that we handle payroll? Yep. We do. We handle payroll for small businesses and S-corps so you can focus on what’s important–running your business. We manage payroll taxes and tax codes. Being tax experts makes it easy for us to handle the payroll and take any and all guesswork out of it.
Small Business Consultations
Whether you’re starting your own business for the first time, or you’re looking to make some changes in your current business plan, we offer small business consultations to help get your business off the ground. We do everything from advising how to set up your books to helping you decide whether you should be a sole proprietorship, LLC, or S-Corp. Here are some of the other services we offer with small business consultations:
- Determine what is deductible
- Advise how to take a home office deduction
- Calculate estimated payments and provide vouchers
- Advise on how setting up a self-employment retirement account in order to help you pay less taxes
- Advise on the procedure to become an LLC
- Advise on the steps to get an EIN (Employment Identification Number)
- Most importantly, we specialize our services to fit YOUR needs.
What Else You Can Expect From Gagliano Associates
We also prepare individual tax returns. We have been providing world class customer service since 1987. Our reputation is extremely important to us, which is why most of our business comes from referrals and word of mouth. We offer personalized service to meet your specific needs. And the best part is that you aren’t just our client from the time you bring us your paperwork until the time you get your refund (or pay your tax bill). We stand by you all year round. We are available to answer your tax questions, concerns, or offer advice all year–not just through tax season. We look forward to serving your tax preparation needs.
Finally, remember to book your appointment if you haven’t already! We offer remote services, evening, and weekend appointments for your convenience. You can also schedule your appointment online. Just remember: evening and weekend appointments fill up quickly! So go ahead–book your appointment. We look forward to working with you soon.