Tax Preparation

 

Because tax regulations change constantly, filing tax reports can be complex.  So we help our clients by providing tax preparation services and prepare individual, business, and organizational federal and state returns, based on our interpretation of the current government tax laws, regulations, rulings, and judicial precedents. 

 

We will keep in contact with you to ensure that you file these reports in a timely manner in order to avoid costly penalty and interest charges from missed deadlines or unknown filing requirements.  With constantly changing tax legislation, we regularly evaluate the best methods to minimize your tax liability.  We want to make sure that you take advantage of the tax incentives that apply to your specific situation.  

 

Please be aware that we file tax returns in all 50 states including Hawaii.  We also provide E-Filing to those who request it.  Furthermore, we also prepare all required city income tax, franchise tax, sales tax, business license tax, and payroll tax returns for individuals, corporations, partnerships, and limited liability companies.

 

Along with our tax preparation services, we provide consulting and advisory services to answer your questions throughout the year.  

 

 

Tax Planning

 

At Cottage Consulting Corp we feel that proper planning and preparation makes all the difference.  We look forward to working with our clients on a continual basis and not just at year-end and our fee schedule is structured in a way to encourage regular communication between us.  We often find that proper planning can help to avoid costly mistakes and encourage our clients to contact us at any time throughout the year whether to discuss an upcoming decision or simply for a financial check-up.  

 

You can be confident that our firm is on top of any current new developments pertaining to the ever-changing tax laws.  We watch emerging tax developments by reviewing proposed legislation and regulations, new laws, and IRS rulings.  We communicate with you about how these changes might affect your business matters and overall tax liabilities.  Our advice is always up-to-date.  We offer practical, proactive, and innovative solutions to tax planning that put your business or personal needs first.  We provide our individual and business clients with the tax expertise and knowledge they deserve year round.

 

We consult with you on the best plans and strategies for operating in an efficient and advantageous tax manner.  We understand the tax implications of proposed transactions and can help you evaluate the most tax efficient methods for managing these transactions.  

Additionally, there are several basic tax-cutting strategies that we will consider for your individual and business planning needs, such as:

 

• Splitting income among several family members or legal entities.

• Shifting income from one year to another in order to have it fall where it will be taxed at a lower rate.

• Shifting deductions from one year to place them where the tax benefit will be greater.

• Deferring liability through certain investment choices and through pension plan contributions.

• Helping you choose the correct business entity that will achieve the best overall savings for both income and FICA taxes

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We encourage you to consult frequently with us during the year so that we may be kept current, at all times, with your financial matters and estimate potential tax liabilities of your transactions.  This will enable us to proactively strategize for purposes of minimizing your overall tax liabilities.  Many clients also prefer periodic income tax and financial meetings that may be quarterly, semi-annually, or annually.  The nature and frequency of such tax planning meetings is uniquely tailored to the nature and complexity of the particular client.

 

Remember, we work for you not for the IRS. Many of our clients save many times the fee in reduced tax liability through careful planning and legitimate tax strategies.