Tax Preparation

Tax Services and tax planning

Tax Preparation Medford OR

There’s no substitute for the quality of service and advice you’ll receive from an experienced tax professional.

Here are a few of the benefits you’ll reap when using our service:

  • We’ll prepare all of the appropriate forms and record all figures and calculations accurately.

  • We’ll make sure that you receive all of the deductions and credits to which you are entitled.

  • We’ll file your return electronically to speed delivery of refunds.

  • We’ll work with you to adjust your payroll withholding to make sure you send the right amount to each tax authority – no more, no less.

  • We’ll show you how to adjust your finances to take advantage of tax benefits on future returns.

Are you a sole proprietor? Have you been so focused on your business that you haven’t paid close attention to your books? No worries! We'll tidy things up and prepare your Schedule C as part of your personal income tax return. Then we'll help you set up an easy system to keep your books current going forward.

Strategies

  • Splitting income among several family members or legal entities to take advantage of lower income tax brackets

  • Shifting income or expenses from one year to another when it can yield a lower tax rate

  • Deferring or eliminating tax liability through the use of tax-advantaged investment vehicles

  • Tracking all expenses eligible for itemized deduction

  • Taking advantage of tax credits

  • Adjustment of payroll withholding

We offer the following tax services:

Federal, State, and International Business Tax Services

Tax Return Compliance

Preparation of federal, state, and international tax returns is the core of our tax services. High-levels of technical and industry-specific expertise allow our tax professionals to ensure our clients’ tax returns are prepared efficiently and timely.

Audit, Appeal and Collection Representation before the Internal Revenue Service

We possess the expertise and experience to represent taxpayers before tax authorities.  Our tax professionals understand the dispute resolution and appeals process and work diligently to obtain you the most favorable results. We can help with all of your tax problems.
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Transactional Structuring

We help businesses structure economic transactions in ways that minimize the tax impact by advising them on acquisitions, sales, and mergers.

Accounting Method Reviews

We review businesses’ tax accounting methodologies for proper accounting and accounting method strategies to maximize income tax benefits.

Research Credit Calculations

We can help your business determine if it is eligible to claim certain federal and state research credits, assist with the documentation requirements, and quantify the tax credit amount.

Sales and Use Tax Determination

We can help you understand the sales and use tax consequences of specific transactions and ensure you meet any filing requirement.

Tax Planning Services

Federal Income Tax Planning

We aid businesses with all aspects of federal income tax planning.  This includes implementing federal income tax strategies that maximize savings, increase profits, and manage cash flows. 

State and Local Tax Planning

Our team understands the structural and transactional underpinnings of state and local regulations in ways that allow us to create solutions that mitigate tax liabilities. We provide state and local tax planning in the following areas:

  • Income tax
  • Franchise tax
  • Sales and use tax
  • Property tax
  • Other miscellaneous taxes

Business Succession Tax Planning

You spent your life building your business, and now you want to pass it on to the next generation or sell the value you built.  We advise businesses on the proper succession planning to preserve their family and business legacy while also looking out for potential tax consequences that may result.

Other Tax Services

Accounting for Income Taxes

Financial accounting for income taxes can be complex.  Our professionals have the technical skills and experience to help our clients navigate these complex requirements and create efficient income tax accounting and reporting.  We also help companies stay up-to-date with regulatory guidance and disclosure requirements. The services we offer allow our clients to minimize year-end surprises and reduce risk related to reporting.  These services include:

  • Calculation of tax provisions
  • Account for uncertain tax positions
  • Analyze current and deferred taxes
  • Prepare financial statement footnote disclosures

Tax Updates

We keep our clients up-to-date on the latest federal, state, and international tax issues through webinars, newsletters, website postings, and face-face meetings, by staying ahead of tax issues and communicating how they will impact your operations quickly and address them promptly. 

Individual Tax Services

When it comes to individual taxes, change provides opportunity.  We keep on top of these changes to provide you with the best advice and strategies, especially through planning opportunities.  You can depend on us for objective guidance and personal attention.  We believe in focusing on your long-term financial goals and steering your current needs in a direction to meet them.

Estate and Trust Tax Services

If you have not considered what will happen to your hard-earned assets as you age and eventually pass on, you should.  Without an estate plan, the wealth you worked your entire life to build will be distributed according to state law and not according to your wishes. Estate planning is crucial if you want to minimize taxes and distribute your preferred beneficiaries as much as possible.

We will work with you to design an estate plan customized to your particular needs by utilizing various planning vehicles such as family limited partnerships, trusts, and charitable entities. Our team can assist you by performing the following:

  • Review wills and trust instruments.
  • Estimate estate taxes and strategize alternatives that may provide tax savings.
  • Review business issues, including valuation and the transfer and/or disposition of business interests.
  • Identify potential liquidity problems caused by federal and state estate taxes for the family business's continued operation, probate, administration costs, etc.
  • Develop a lifetime gifting program using vehicles such as family limited partnerships, charitable trusts, and qualified personal residence trusts
  • Prepare estate, gift, fiduciary, and non-profit tax returns.
  • Advise you on the possible use of various trust structures, including charitable remainder trusts, grantor annuity trusts, personal residence trusts, family partnerships, credit shelter trusts, marital deduction trusts, and revocable lifetime trusts.

Looking for a little information right now? Please view the latest Tax and Financial News article in our Newsletter.


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Wise & Co LLP CPAs

920 E. Jackson Street
Medford, OR 97504

Tel: 541-772-8666
Fax: 541-779-4442
Email: info@wise-cpa.com

For more information click here

Visit us at www.jdpcpas.com

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We are here to help with business consulting, business planning, tax matters and help with all your financial and business concerns.