Services
Tax Services
Individual Tax Returns
While preparing your own tax return may sound like a good way to save money, it often ends up costing you in the long run. According to a study released by the US Government’s General Accounting Office, most taxpayers (77% of 71 million taxpayers) believe they benefited from using a professional tax preparer. While tax software offers some assistance, there’s no substitute for the real world experience of a qualified professional when it comes to 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. At Merit Tax we know that reliable and effective tax preparation is the foundation for building a strong financial future for your family or business. Our CPA and tax team use our extensive knowledge of federal and state tax regulations to maximize your refund as much as possible. We specifically focus on lowering your tax liability and increasing your deductions to put more money back in your pocket.
Business Tax Returns
We prepare tax returns for all types of businesses including sole proprietors, partnerships, limited liability companies, corporations, and non-profit 501C entities. We can also handle multi-state taxes for businesses with locations in more than one state. We provide tax services to an array of industries including information technology, medical practices, pharmaceuticals, construction, retail, hospitality, real estate and many others. Our focus is on helping the closely held business navigate the complex tax laws and minimize the amount of taxes they pay and keep that money in the business to help it grow.
Tax Consulting
In today’s complex, ever-changing tax environment, you need guidance and creativity from knowledgeable professionals who identify and implement tax planning strategies that limit present and future tax liabilities. We provide expert tax planning for high-net-worth individuals, ensuring they get the most out of their hard earned income. Our experienced team of tax professionals knows that proper tax planning requires a thorough understanding of each client’s unique objectives, plans and opportunities. That is why we take a proactive approach to ensure compliance requirements are fulfilled while every opportunity to minimize tax liabilities is examined. We keep clients informed about new and developing tax issues and provide innovative solutions to help them achieve their business and financial objectives.
Tax Problems Resolutions
Audit Representation
Nothing strikes fear in the hearts of people more than receiving an IRS Audit letter in the mail. Audits take significant time away from your business and family, requiring you to gather mounds of records substantiating every item reported on your tax return and develop a comprehensive understanding of tax law.
The IRS leaves no stone unturned in its mission to determine the accuracy of your tax return. If you don’t comply with the Auditors’ wishes, the IRS will recalculate your tax and send you home with a hefty tax bill as your parting gift.
Many taxpayers decide to handle a tax audit themselves and discover they may have been “penny wise,” avoiding a representative’s fee, but “pound foolish,” because they received a substantial bill for a significant tax deficiency.
IRS Auditors are trained to extract more information from you than you have a legal obligation to provide. IRS Auditors know that most people fear them and are ignorant of their rights. As a result, they know they can use that fear and ignorance to their advantage.
Rarely do our clients even have to talk with the IRS. We handle it all for you so that you do need not to take time off of your business or job to handle the bureaucracy and paperwork of the IRS. No lost wages or business. You simply forward a notification of an audit to us and we handle it from A to Z.
Tax Problems
Failing to pay your back taxes can result in a lien on your assets or even a seizure of your personal property by the IRS. If you’ve received a notice of a lien or levy, contact us right away and we’ll work with the IRS to negotiate a reasonable payment plan to pay off your tax debt.
If you owe the IRS money they may garnish your wages to pay the tax debt. If you fear the IRS may come after your paycheck, contact us for assistance and we’ll work with them to arrange a payment plan instead.
An offer in compromise (OIC) allows a taxpayer to resolve a tax debt by convincing the IRS to agree to accept less than the full amount owed. We can determine if you qualify and prepare the documentation required by the IRS.
If you’re up to date on your tax returns but don’t have the funds to pay off your tax bill, an installment agreement may be the solution. An installment agreement lets you pay off your tax debt over time