Tax Planning & Compliance
We aim to be our clients’ most trusted advisor, and we always keep your interests in mind.
Our firm specializes in helping small businesses reach their financial goals and maximize their tax benefits. Our experienced team can help your business with tax preparation and E-filings as well as with regular accounting services using QuickBooks.
Businesses and Entities
We keep up with the most recent tax laws and codes, and can work with your business to come up with a tax plan that not only takes advantage of all available benefits, but one that will help you avoid problems down the road. We can also help you to navigate through the tax implications connected to buy/sell and succession planning and advise you about any debt and financing. Stevans & Associates, PLLC cares about your business success, and we are committed to providing competent, professional service with integrity.
If you are starting a new business, we can advise you about entity selection and show you the tax advantages and disadvantages of sole proprietorship vs. incorporation, or organizing as an LLC. We can also help you apply for a Federal Identification Number, obtain the necessary state withholding tax and unemployment account approvals, and help you manage your payroll.
Real estate professionals have a myriad of entity structures to choose from when setting up a business. We can help you to define your goals, weigh the pros and cons of each entity structure, and choose the proper structure so you can reach your goals and protect your assets along the way and into the future.
We aim to be our clients’ most trusted advisor, and we always keep your interests in mind. Contact Stevans & Associates, PLLC to talk about how our tax planning and preparation services can help your business.
Tax Planning
At Stevans & Associates, PLLC we understand the significance of strategic tax planning for both individuals and businesses. Our dedicated team of tax professionals will assess your unique financial situation to craft personalized tax strategies. For individuals, we offer tailored plans to maximize deductions, minimize liablities, and optimize returns. For businesses, we provide comprehensive tax planning strategies that align with your company’s objectives, ensuring compliance while maximizing the tax efficiency. Trust us to navigate the complexities of tax regulations, allowing you to focus on your financial growth and long-term success and having peace of mind that you are appropriately planning for taxes.
Individuals and SMLLCs
Income tax preparation is never straightforward. Tax laws are complicated, and keeping up with new regulations and codes can be overwhelming. Stevans & Associates, PLLC is a Caring, Accessible, Knowledgeable, and Experienced firm that can help you to have your CAKE and file your taxes.
Our team is committed to helping individuals maximize their tax benefit and avoid confusion and problems down the road, especially for those individuals who also own small businesses, are settling an estate, or who are going through a divorce. We can help you to come up with a financial plan with tax law and your fiscal future in mind.
One of our specialties is handling accounting and tax complexities for real estate professionals. Over the years, we have helped everyone from owners of a single property to companies that own hundreds of units. The tax code and regulations are riddled with potholes and pitfalls that can demolish an uninformed real estate plan. Our professionals have dealt with almost every real estate issue imaginable and our clients have included “flippers”, landlords, real estate agents, property managers, developers, contractors, attorneys, insurance agents, bankers, and hard money lenders. We have built a network of real estate professionals who can handle any situation and help you achieve success in real estate.
Contact us to discuss the new tax laws and how they might affect your real estate plan. Code section §199A may apply to you, qualifying you for a 20% income deduction. New tax regulations are being developed and considered, and we have the experience with many tax codes that impact the real estate industry, including §263, §162, §199, §469, §743, §754, §1031, §1250, and §1411.
We can help you maximize your improvements and depreciation deductions. We can help you make the correct elections to qualify for annual write-offs under §168, §179, and §263. The depreciation rules are complicated, but not as complex as the passive activity and real estate professional regulations. Let us help you avoid IRS issues and at the same time maximize your advantages and benefits.
State & Local Income and Sales Tax
The more government programs that are implemented, the more the states have to increase taxes and collect tax revenues from different sources. There are thousands of different federal, state, county and local municipalities around the country that levy taxes. Many of these taxing agencies have their own set of income tax and sales tax laws that vary drastically from one another. Our professional staff, with the help of state-of-the-art tax research software with AI, can help you stay in compliance and ahead of any tax law changes. We have the experience and the knowledge to advise you on your multi-state tax nexus and apportionment.
Tax Debt Resolution Services
Don’t be fooled by the commercials promising fast and easy tax debt reduction and resolution. In most cases, the IRS will not bargain or reduce your interest and penalties. The IRS is a set of laws that are implemented by IRS employees with little to no flexibility. Most of the debt resolution companies are scams requiring large payments upfront with little to no action or resolution to follow.
Although there are no magic wands or secret sections of the tax code to reduce what you owe, our professionals do know the tax laws that can help you and give you peace of mind. Our professionals can help in many cases to reduce taxes, interest and penalties by amending returns to correct missed deductions and credits and utilize first time penalty abatement.
We can also advise how to qualify for a streamlined installment agreement, an Offer- in -Compromise or Currently not Collectible status. In some extreme cases we can refer you to and work with a bankruptcy attorney that may be able to have some of the income taxes removed.
All of these situations have strict guidelines and statute of limitations that need to be met. Our knowledgeable caring staff can help guide you.
IRS and State Audit Representation
Professional representation can be vital during an audit, and our experience with tax authorities enables us to guide clients in their dealings with federal and state agencies. If you have been chosen for an audit, the professional representation you can find with our firm can put many of your worries at bay. We are ready and willing to answer any and all questions the IRS may be asking of you.
Estates, Trusts, and Gifts
Effective estate and trust planning can ensure financial security for loved ones. For businesses, it can maintain a smooth succession of ownership. Stevans & Associates, PLLC’s role is to help you navigate the complex and shifting tax laws to facilitate the transfer of assets and minimize the tax liability of your beneficiaries. Everyone should have a well thought out plan as to how to disburse one’s estate so as to avoid complications and to be sure wishes are followed. Having your taxes and estate thoroughly and carefully planned will ensure that your loved ones don’t have any complications to deal with during a time of loss.
