Tax Services

Tax Preparation

Whether we like it or not, today’s tax laws are so complicated that filing a relatively simple return can be confusing. It is just too easy to overlook deductions and credits to which you are entitled. Even if you use a computer software program, there’s no substitute for the assistance of an experienced tax professional.

Here’s what you get with our Tax Preparation Services…

• Your tax return will be checked and rechecked by our computer software identifying potential problems the IRS may look at more closely and reviewing the math to limit IRS contacts.
• Your tax return will be reviewed by experienced tax professionals to examine the details of your circumstances and determine the best strategy for your situation.
• We will show you potential deductions to limit your tax liability for next year.

Tax Planning

Planning is the key to successfully and legally reducing your tax liability. We go beyond tax compliance and proactively recommend tax-saving strategies to maximize your after-tax income. We make it a priority to enhance our mastery of the current tax law, complex tax code, and new tax regulations.

Like-Kind 1031 Exchanges

Whenever you sell a business or investment property and you have a gain, you generally pay tax on the gain at the time of sale. The IRS provides in Section 1031 an exception and allows you to postpone paying tax on the gain if you reinvest the proceeds in similar property as part of a qualifying “like-kind exchange.” Gain deferred in a like-kind exchange under Section 1031 is tax-deferred, but it is not tax-free. The exchange can include like-kind property exclusively or it can include like-kind property along with cash, liabilities, and property that are not like-kind. But if you receive cash, relief from debt, or property that is not like-kind, you may be responsible for a taxable gain in the year of the exchange.

EP advisors can help you navigate through this compliance maze for your benefit. Let us help you with this process and avoid paying unneeded taxes for your sale.