Business and Personal Income Tax Preparation
In the world nothing can be said to be certain except death and taxes.
Ben Franklin
Not much has changed since the beginning of our country, has it? In fact, we hear that many folks would prefer death to facing the Tax Man!
This is one part of our business where we totally “get it”. The level of stress and pain are exponential whether you are dealing with problems on how to report something to not having reported it at all! A reason for unfiled returns piling up can simply be not knowing how to resolve owing more than you can pay. And there’s nothing simple about that.
That’s why we encourage our clients to “deal with” their taxes on an annual basis. What taxes you ask? Well… our most frequently used response = “It depends!”
Personally, you are looking at your annual individual 1040 return.
If you are a business owner, the list can go on and on sometimes occurring with exasperating frequency.
- Corporation and Partnership Tax Returns to the IRS as well as states and cities
- Michigan Business Tax Returns (soon morphing into the Michigan Business Return)
- Personal Property Tax Returns to the city
- Sales and Use Tax Returns to the state (in some states, also the county and/or city)
- Payroll Tax Returns to all of them? the IRS, states and cities
- Excise Taxes to the Federal
How to keep up?
Ask for help from folks who keep going back to school to keep up with the changes. At EAS, we do our best to keep ahead of the curve so that you pay your fair share of taxes and no more… whether personal or business!
In the words of Federal Judge Learned Hand, “Anyone may arrange his affairs so that his taxes shall be as low as possible. …There is not even a patriotic duty to increase one’s taxes. Over and over again the Courts have said that there is nothing sinister in so arranging affairs as to keep taxes as low as possible. Everyone does it, rich and poor alike and all do right, for nobody owes any public duty to pay more than the law demands.”
Let’s take Judge Hand’s advice when facing the Tax Man.
If you would like to speak with us about your business or personal tax preparation please contact us here.