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The benefit of working with a financial planner who also does taxes is that we go beyond typical tax preparation services by integrating retirement and goal planning into tax strategies. We work with you to determine whether tax deferral is appropriate given your forecasted tax situation throughout your life. We will also forecast the potential impacts of additional Medicare premiums based on federal government-imposed income-related monthly adjustment amount (IRMAA). If tax-deferral is appropriate, we will work with you to determine the best approach given your personal financial situation. Strategies span from maximizing deductions and charitable donations; to contributions to tax-deferred accounts; to back-door and mega-back-door conversions to Roth accounts; to more advanced planning with trusts, annuities, and life insurance products; or even tax-efficient strategies for the sale of a business through private stock and 1031 exchange.
Tax Preparation Services
We use a client portal and robust tax preparation software to collect your information and prepare Federal and State tax returns. Throughout the process, we ask questions to make sure we aren’t missing items and are using as many deductions as legally allowed. We use a bank-level secure email system when emailing personally identifiable information (PII) as an added layer of protection. The process usually takes just a few days, taking the hassle out of tax preparation an dgiving you the peace of mind that your tax returns are complete and have been evaluated by a professional.
Electronic Filing of Federal and State
We are able to file your Federal and State (where allowed) tax returns electronically, with any payments or refunds directly withdrawn or deposited electronically to/from your bank account. The submission and reconciliation of electronic filing are taken care of by our team. This is the quickest way to file and receive refunds, giving you the peace of mind that your return is not lost in the mail, or sitting in a physical queue waiting to be opened and read at an IRS processing facility.
We also set up electronic payment of quarterly estimated taxes for those that don’t have regular W2 withholdings (for instance, business owners), or installment payments for taxes owed (for instance, with large tax bills) that will automatically be withdrawn from your account throughout the year. This takes the stress off of the individual, so they don’t have to remember to log into the IRS or State website to make their on-time payments, avoiding penalties.