If you are asking yourself “’Do I need a tax advisor?” the answer is most likely “Yes”. Taxes are complicated and get more so every year. Federal Tax laws change when a new political party comes into power. Unless you review the tax law changes every year, how the heck would you know if there was a change impacting your taxes or giving you an opportunity to save?
It is true that if you are hatted on doing your taxes, you can probably do them yourself. If you keep up to date on changes, and understand what you are doing, that is fine. Being educated on taxes and finance is a good idea.
But if you are asking if you need a tax advisor, then that probably means there is some uncertainly there.
Also, while paying an EA or a CPA to do your taxes or advise you may not be cheap, it is a lot cheaper than making a mistake. I recall one potential client who had increased his tax liability by $13,000 in a prior year because his partially-trained tax preparer missed an opportunity. I told the client I could fix it for him and get the 13K off his liability. Now, 13K would pay a lot of years of tax preparation!
Couples, families, business owners and those with multiple incomes, assets, or investments need to have a trusted and trained tax advisor (i.e., EA, CPA, Tax Attorney) to do their taxes. If they are well organized, they may not need a bookkeeper. Of course, at Torchlight Tax, we can do whatever you need.
Keeping track of forms, expenses and so on becomes difficult for many people and most prefer to hire a tax advisor in Las Vegas. Torchlight Tax and Accounting is your trusted tax advisor in Las Vegas and can prepare your taxes, save you tax dollars, and make the tax process as pleasant and painless as possible!
Torchlight Tax is an accounting and tax preparation firm with offices across the Las Vegas Valley that provide quality accounting and tax filing. By assessing your current financial situation, we can provide you with both tax preparation services and tax advice to prepare you for next year. As professional tax advisors, we help our clients preserve their assets, increase their returns, and maintain financial health. We’ll make sure you’ve accounted for every deduction and get every tax credit and break the law allows. Don’t let the stress of tax season overwhelm you. With assistance from our tax advisors, you’ll have everything under control. Free consultations are available.
Many people do not know how a professional tax and accounting firm differs from a bookkeeper or tax preparer. The main difference when working with a professional tax and accounting firm, such as Torchlight Tax, is that our firm utilizes the services of CPAs, EAs, and Attorneys who are distinguished from bookkeepers and other tax preparers by stringent qualification and licensing requirements. Our entire team has a purpose to legally save your tax dollars and to make taxes as painless as possible. This means we take your calls and respond to your concerns. If you receive a threatening IRS call or Notice or are worried about some tax question, we are here for year round taking your calls and responding to your emails.
Whether you are filing personal, small business, or corporate taxes, or negotiating IRS tax debt, if you are not already using a professional Tax, Accounting and IRS Representation firm, you most likely have missed out on major tax benefits. This is because a professional tax and accounting firm utilizes licensed professionals such as Certified Public Accountants (CPAs), EAs and Attorneys, who can not only advise individuals on personal financial matters but who can also advise businesses and corporations of all sizes and types. Tax laws are complicated, and no one knows everything. Torchlight Tax is a team and any one of our tax pros can call on other EAs, CPAs and Tax Attorneys in the team who may have specialist knowledge in a specific area of tax.
When doing current taxes, we often come across missed tax savings from prior years. When this happens, the Internal Revenue Service allows you to amend your taxes and lower your tax liability. Whether you or your prior tax preparer missed a W-2 or 1099, a revised 1099. large charitable donations, or made some other error, amending your tax return can help you recover the money you are rightfully owed. When we find this situation, we will advise you on potential savings and amend the previously filed tax return.</p”>
Sometimes, there may be a situation where a tax return could be amended, but it is too late to receive any benefit. Or maybe you made an error that was missed by the IRS that would have increased your tax liability. In some cases, it is prudent to file an amended return. But if it is not necessary and will not save you any money or decrease your risk, we will tell you not to bother. It is silly to amend a return to no advantage which is too old for the IRS to audit. Some firms might file a bunch of unnecessary tax returns and charge a fee. Sometimes a taxpayer himself might increase his tax liability by filing an unnecessary amendment that increases his tax liability. We will not do this.
Amending a tax return requires more professional acumen then doing it right in the first place. At Torchlight Tax, we do file the tax return correctly the first time. And we will happily amend your tax return, but only if it actually is to your benefit. If you think you might need to amend tax returns, contact Torchlight Tax for a free consultation.