Our Income Tax Process

To ensure exceptional service, your tax preparation experience will begin with an in-depth tax interview with one of our tax professionals. The typical business tax client can expect a process similar to the following:

We will request information such as your Company’s prior year income tax returns, and any 1099s or 1098s that the entity has received. If you have not filed and distributed your 1099s or W-2’s, we are happy to do that for you also. If your company pays wages, we will request the 941s (quarterly payroll tax returns) so that we can ensure that you have taken all of the allowable deductions on your tax return.

If your Company has an operating agreement, we will request a copy of it as well as any changes in ownership that may have occurred throughout the year.

Next, we will request a copy of your balance sheet and income statement. We will discuss the financial statements with you to determine that you are taking all possible deductions and recording income properly. We will also need detail of any fixed asset additions you may have had during the year.

Often, we will obtain an Accountant’s copy of your QuickBooks file if you are using QuickBooks so that we can make any necessary adjustments for you. If you do not use QuickBooks, we will provide a list of necessary journal entries so that your accounting records will agree to the amounts reported on your income tax return. Additionally, we are able to assist clients who are outside of the Chandler area by using our QuickBooks server to allow remote access.

Our clients sometimes prefer to have us review their accounting records throughout the year (quarterly or monthly), for better income tax planning. It is never too early to contact us for income tax planning.

Next Steps…

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