Tax Services
We understand how the idea of handling one’s taxation could be a complicated matter. Besides, finding the right professional could be even tedious. At Phanald IT, we endeavor on helping with specific financial situation while educating and proving quality information and tax solutions to our clients. We’re also committed to maintaining the highest standards of integrity and professional expertise. We’re dedicated to helping to minimize their tax liabilities; to achieve their overall fiscal goals; and to ensure their staying compliant with IRS law and regulations.
Tax Planning
Tax planning is an integral part of every individual’s or business financial plan. This means, taking effective approach and making strategic decisions, with an objective in mind, to get their tax liability reduction throughout the year.
Our goal resides in working with individual client to assess their objective that may impact future tax expectations while taking into consideration any tax implications of various options. Then, we efficiently help maximize any legitimate tax breaks using tax exemption, deductions, and credits.
Tax Amendment
A tax amendment is a means used to correct errors reported in previous year tax return. As confusing as it may seem, a tax amendment could be advantageous if you missed to claim an eligible credit or a deduction when original filed your return. It could also turn out that you owe IRS money because you missed a 1099 form for instance.
Regardless, one of Phanald IT Tax professionals is happy to get everything taken care of in an efficient manner.
Tax Extension
Whether you need additional time to file your federal tax return; you go through an unexpected life event; or you’re trying to get your penalty reduced because you can’t afford to pay in full by the deadline, whatever the reason, an extension is your best bet.
A tax extension extends your usual April 15th deadline to October 15th, which allows you an extra six months to file your tax return. Be advised the extension is only for filing your tax return. When you file your tax, if you’re expecting a refund, you just won’t get it until you file. But if you owe on taxes, payment is still due by the deadline. Otherwise, you might have to pay penalties and interest on the tax due.
Tax Preparation
Filing your own tax can be complicated and even tedious unless your financial affairs are simple enough. Although you could do on your own, it could be more beneficial seeking an outside assistance with your taxes.
Chances are you’ll use a seasonal or a steadier help from a tax professional. Either way, you should consider Phanald IT. Due to our deeper understanding of tax laws, we review your personal information and give you a more personalized tax solution.
A- We offer you advice about best steps to take to reduce your tax liability.
B- We determine which expenses and circumstances that may result in tax deductions, credits, and other opportunities for savings that you might miss.
C- In addition, we use tax software that enables us accurately and efficiently prepare your returns while keeping your records on file and give consistent tax returns year after year.
Installment Agreement
The Internal Revenue Service (IRS) would prefer that you prepay your taxes, or you pay them on time, but life happens. If you’re facing financial challenges and find yourself behind in your tax payment, you may be eligible to pay the taxes you owe within an extended timeframe through an installment agreement with the IRS.
The IRS allows two kinds of payment plans: short-term and long-term. So long as you’re keeping up with your promised payment plan, the IRS usually won’t garnish your wages or seize any bank accounts or property. But getting on an IRS payment plan doesn’t get you out of interest and penalties for late payment; those accrue until your balance is zero.
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