As an Enrolled Agent authorized to practice before the Internal Revenue Service, the principal of the firm can handle a variety of tax situations, both for individuals as well as corporate entities. 

Planning in anticipation of tax consequences avoids or mitigates situations that could otherwise prove very expensive when tax returns are filed.  Should I borrow from my 403(b) account?  How should I setup my new business?  These are some of the questions that arise from circumstances involving your goals.

Tax preparation services include the filing of

  • Form 1040 Individuals
  • Form 1120C Corporations
  • Form 1120S S-Corporations
  • Form 990 Exempt Organizations

1120C Entities keep their financial operating results entirely with the company, paying and reporting dividends to shareholders.  1120S companies pass their results through to the personal returns (1040) of the owners of the firm.

If you have a business you should take advantage of tax qualified retirement plans. Your business does not have to be incorporated to take advantage of these plans since they are available to self-employed individuals.

Payroll Deduction IRA - As the IRS states, the Payroll Deduction IRA is probably the simplest retirement arrangement that a business can have. No plan document needs to be adopted under this arrangement.

  • The employer has no filing requirements.
  • Only employees make the contributions.
  • Any size business can provide this service to its employees.

Simplified Employee Pension (SEP) - A SEP plan can provide a significant source of income at retirement by allowing employers to set aside money in retirement accounts for themselves and their employees. A SEP does not have the start-up and operating costs of a conventional retirement plan and allows for a contribution of up to 25 percent of each employee's pay.

  • Available to any size business
  • Easily established by adopting Form 5305-SEPPDF, a SEP prototype or an individually designed plan document. If Form 5305-SEP is used, cannot have any other retirement plan (except another SEP)
  • No filing requirement for the employer:
    Only the employer contributes: 1) To traditional IRAs (SEP-IRAs) set up for each eligible employee; 2) Employee is always 100% vested in (or, has ownership of) all SEP-IRA money