Our Tax Services
At TaxCosmos, we understand that managing taxes can be complex and time-consuming. Our comprehensive tax services are designed to meet the needs of individuals, small businesses, and real estate investors. With a deep understanding of tax laws and regulations, our team is committed to providing you with personalized and efficient solutions.
Individual Tax Preparation
Navigating personal taxes doesn't have to be daunting. Whether you're employed, self-employed, or dealing with more complex income sources, our experts are here to help. Our services include: et deserunt, recusandae. here
Income tax return preparation
Tax planning and advice
Assistance with tax credits and deductions
IRS audit support
Small Business Tax
Running a small business comes with its unique set of challenges, and taxes are no exception. We offer tailored tax services to small businesses that include:
Business tax return preparation (Sole Proprietorships, Partnerships, LLCs, S Corporations, C Corporations)
Payroll tax reporting
Sales tax compliance
Business tax planning and consulting
Entity selection and restructuring
Real Estate Tax Services
Real estate taxation can be intricate, involving various factors such as property type, usage, and location. Our real estate tax services cater to both investors and property owners, ensuring:
Property tax assessments and appeals
Real estate transaction tax planning
Rental income and expense reporting
Depreciation and capital gains strategies
1031 exchanges
Frequently Asked Questions
What documents do I need to bring for tax preparation?
Ensure a smooth tax filing process by bringing the following essentials: ID and Social Security numbers for you and your dependents.Income documents like W-2s and 1099s.Deduction proofs, such as charitable donation receipts and educational expenses .Last year's tax return for \details for direct deposit of your refund.This list covers the basics, but your specific situation may require additional items.
What's the difference between a tax deduction and a tax credit?
A tax deduction lowers your taxable income, which can reduce the amount of tax you owe. A tax credit directly decreases your tax bill, dollar for dollar. Some credits are refundable, meaning they can increase your tax refund.
How long should I keep my tax records?
Keep tax records for three years from filing or two years from paying the tax, whichever is later. For loss claims or property sales, extend this to seven years.
What happens if I miss the tax filing deadline?
Missing the deadline can result in penalties and interest charges on any unpaid taxes. However, if you're due a refund, there's no penalty for filing late. Consider filing as soon as possible or requesting an extension to avoid or minimize extra costs.
What are the benefits of using a professional tax preparer?
Hiring a tax professional brings several key benefits: precise compliance with tax laws, identification of opportunities for savings, time efficiency, minimized error risks, assistance in the event of an audit, and overall confidence in the accuracy of your tax return.
How do you ensure the security and confidentiality of my information?
We prioritize your privacy and security by implementing strict data protection measures, including encrypted communication channels, secure data storage systems, and regular security audits. Our team is trained in confidentiality protocols to safeguard your personal and financial information at all times.