Tax Planning Services in Roseville

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Tax Shark’s Tax Planning Services in Roseville, California can help you make the most of all your business endeavors. Whether you own a small business or are an independent contractor, you can keep more money in your pocket each year by planning out your taxes ahead of time. Tax planning is even beneficial for W2 workers who want to hold onto more of their hard-earned dollars.

No matter how you earn a living, you just need help from a skilled planner to work within the rules of the system and avoid missteps along the way. Thankfully, our team at Tax Shark is poised to provide the help you need each and every year.

Benefits of Tax Planning Services

If you are looking to build a secure financial future, tax planning services will help you achieve that goal. To get a jump on the coming year, make sure to start the process in late fall to get everything in order before you ring in the new year. By doing that, you could enjoy all of the following benefits.

Correctly Time Business Investments

When you apply your earnings to all the right areas, you can reduce your tax liability and keep more money in your accounts. If you are building your small business from the ground up, for example, you might want to go ahead and invest in the expensive equipment you need. Then, you can potentially write off the cost either in full or across several years, depending on what’s most beneficial for your situation.

Plan Personal Endeavors

Getting married, sending your child to college, renovating your home, and many other personal endeavors can all have an impact on your taxes. By understanding their potential impact, you can plan out your personal life or just simply be ready for the results. You can even have a chance to participate in short-term tax programs, such as investing in renewable energy systems for your home, before time runs out.

Put Enough Money Away for Retirement

If you are over age 50, then it is a good idea to put away at least $7,000 in an authorized retirement account. This drops your gross income and associated tax payment, while building a nest egg for the future. The laws change every year, however, so only a tax planner can help you figure out where to best direct your funds and achieve this goal.

Get the Right Tax Credits

The tax system offers a wide range of credits that further reduce your gross income and tax obligations. Unfortunately, you definitely do not qualify for all of them. Figuring out which ones apply to your situation can prove challenging on your own. When you bring in a tax planner to look over your finances, you can quickly discover which credits might apply next filing season.

Make All Tax Payments on Time

While running a business, you could lose hours upon hours trying to track that info down and get everything sorted by the deadline. While operating as an independent contractor, on the other hand, quarterly tax payments are a must to avoid hefty penalties. While working with a tax planner, they will let you know what documents to sock away for the filing season — and when to get your documents in to the IRS to avoid late penalties.

What to Expect During Your Roseville Tax Planning Appointment

By late October, you should be thinking about tax planning services for the coming year. Starting early will ensure you have enough time to get into all the details and create your personalized plan. To get started, you just have to make an appointment with our team at Tax Shark by filling out our online form.

Before your appointment date arrives, start gathering up all the info you might need, including:

Tax returns from at least 3 years prior.
Proof of income, such as W2s, 1099s, and profit and loss statements.
A list of all your assets and their values.
Personal information about all members of your household.
Equipment purchase needs for the coming year.
Home improvement and family planning goals.
Bank, retirement, and investment account statements.

With this info in hand, you can sit down with your tax planner and go over the details of your potential obligations, deductions, and credits. They can then help you formulate a beneficial plan that will reduce your tax owing for the coming year. After that, all that’s left to do is follow the provided plan to reach your goals and build your wealth.

Don’t waste any more time with potentially costly guesswork, get started today by making your tax planning appointment with our team in Roseville, California. We look forward to helping you create and follow your perfect plan.

Why Hire Tax Shark?

Lana from Tax Shark was able to answer all of my questions and help me with my situation. She did the research on my issue and got it taken care of. Don't neglect your taxes boys and girls.

Jon E. - Contractor