The tax services of Smith and Raab, P.C., are designed for individuals and small business owners who can benefit from strategic planning. More than merely completing a tax return, the Smith and Raab process involves a thorough review of the client’s entire financial landscape to determine the tax strategies for the current year’s returns, as well as to plot a course of action for their businesses and families well into the future.
Smith and Raab brings a unique perspective to your returns: an understanding of your financial big picture – investments, financial goals, estate planning, and other elements that serve to uncover tax saving opportunities.
As a Smith and Raab tax client, you benefit from the following process:
• You complete a tax questionnaire designed to help you gather all appropriate tax records and information.
• You have an in-person interview with your Smith and Raab CPA. (Smith and Raab CPAs also conduct interviews over the phone with out-of-state clients or clients otherwise unable to schedule in-person visits.)
• The interview is an in-depth process, during which your Smith and Raab CPA works with you to develop ideas and opportunities for reducing taxes for the current year and plan strategies that will generate tax savings in the years ahead.
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What is tax planning and why should I do it?
Tax planning involves developing strategies you can follow during the year to reduce your taxes. Often, it helps an individual or business eliminate avoidable pitfalls during the year that would create unnecessary year-end tax burdens. Typically, this process results in tax savings by identifying opportunities as well as problems.
Tax planning helps you:
• Know how much you are going to owe
• Identify any potential underpayment penalties and strategies to avoid them
• Proactively manage issues like the alternative minimum tax
• Identify other types of tax traps you might not otherwise have been aware of
Smith and Raab tax planning services are available by appointment as a stand-alone session. Or tax planning can be scheduled as part of your tax return preparation interview.
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Smith and Raab provides tailored assistance for businesses on a full range of federal, state, and local tax issues. You determine the level and breadth of services.
• We prepare your business income tax returns and help you with tax planning.
• We prepare partnership returns, trust and estate fiduciary tax returns, and federal estate tax returns.
• We maintain your property tax records and prepare timely reports.
• We prepare sales tax reports from your sales records.
• Our payroll tax services range from preparing payroll checks, quarterly and annual business payroll tax returns, W-2s, and other reports to annual tax reporting for domestic help.
• We prepare returns for nonprofit organizations.
• We help you implement a new accounting system and train you in its use.
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