By MsAPeters March 20, 2019
After living in fear for many years, that the IRS would take my paycheck and my \r\n bank account, I finally got it all resolved. I made some bad choices back in 2008, but the guys (Dave and David) at Flat Fee Tax Service filed all my missing tax returns and got the balance wiped out with an Offer in Compromise. I should have done this years ago. Thank you so much! A.P. ...read more
By purplepen63 March 19, 2019
I want to thank Dave Rosa at Flat Fee Tax Service for all of his help getting me out of "tax hell". I had unfiled tax returns and tax debt that I just couldn't pay as I am now on disability. Their Tax Attorneys got my tax returns filed and then settled my debt. The entire team was just super. Thank you all.\r\n\r\nDave Jacintho ...read more
By SashaGreene February 21, 2015
I am sooo very thankful for your service. After receiving several notices in the mail about my tax issues, I decided to do some research online. I contacted about 15 different agencies to assist me with owing the IRS over 10,000 dollars. So many kept calling and pushing me to get started and pay them. I was scared of being "scammed." Flat Fee Tax Service were the only ones who stated, " I will not chase you, if you decide to go with this service call me back and we can move forward." Mr. Rosa was great. He explained in detail each step of the way, kept me informed, and returned my calls and responded to my emails. Pricing was also more reasonable as he worked with me on my down payment and monthly payment. I ended up paying maybe a total of $4,300 ($2400 to IRS and $1900 to Flat Fee Service). I truly stepped out on faith with this one, and was blessed!!!! Thank you sooo much Flat Fee!! D. Watson ...read more
Serving the San Diego area since 1972Services Provided-Tax preparation and planning for individuals, partnerships, S-Corps, C-Corps, Non-Profits, and trusts for federal returns, all 50 states, and US territories-Bookkeeping and financial analysis-General business consultingClient profiles- 500 individuals with a wide range of needs including complex itemized deductions (e.g. medical, charitable, office in the home & all types of employee business expenses), all types of investment (interest, dividends, capital gain/loss, & real property), sole proprietorship business income & expense, real estate rental income & expense, Sales Tax and Gift Tax.- 60 Partnerships, S-Corps, C-Corps, and trusts- 40 bookkeeping clientsCertifications- All tax preparers are Enrolled Agents- All bookkeepers are QuickBooks certified O'Connor's Tax Services 4420 Hotel Circle Ct. Ste 365 San Diego, CA 92108 Phone: (619) 220-5277 Website:taxpreparationsandiego.net Keywords: tax preparation, Bookkeeping Services, tax preparation services, tax consultation, tax services ...read more
By O'Connor's Tax Services August 14, 2015
7 Biggest Misconceptions Business Owners Have About Their Returns One of the biggest hurdles you'll face in running your own business is staying on top of your numerous obligations to federal, state, and local tax agencies. Tax codes seem to be in a constant state of flux making the Internal Revenue Code barely understandable to most people. The old legal saying that "ignorance of the law is no excuse" is perhaps most often applied in tax settings and it is safe to assume that a tax auditor presenting an assessment of additional taxes, penalties, and interest will not look kindly on an "I didn't know I was required to do that" claim. On the flip side, it is surprising how many small businesses actually overpay their taxes, neglecting to take deductions they're legally entitled to that can help them lower their tax bill. Preparing your taxes and strategizing as to how to keep more of your hard-earned dollars in your pocket becomes increasingly difficult with each passing year. Your best course of action to save time, frustration, money, and an auditor knocking on your door, is to have a professional accountant handle your taxes. Tax professionals have years of experience with tax preparation, religiously attend tax seminars, read scores of journals, magazines, and monthly tax tips, among other things, to correctly interpret the changing tax code. When it comes to tax planning for small businesses, the complexity of tax law generates a lot of folklore and misinformation that also leads to costly mistakes. With that in mind, here is a look at some of the more common small business tax misperceptions. 1. All Start-Up Costs Are Immediately Deductible Business start-up costs refer to expenses incurred before you actually begin operating your business. Business start-up costs include both start up and organizational costs and vary depending on the type of business. Examples of these types of costs include advertising, travel, surveys, and training. These start up and organizational costs are generally called capital expenditures. Costs for a particular asset (such as machinery or office equipment) are recovered through depreciation or Section 179 expensing. When you start a business, you can elect to deduct or amortize certain business start-up costs. Starting in tax year 2011, you can elect to deduct up to $5,000 of business start-up and $5,000 of organizational costs paid or incurred after October 22, 2004. The $5,000 deduction is reduced by the amount your total start-up or organizational costs exceed $50,000. Any remaining costs must be amortized. 2. Overpaying the IRS Makes You "Audit Proof" The IRS doesn't care if you pay the right amount of taxes or overpay your taxes. They do care if you pay less than you owe and you can't substantiate your deductions. Even if you overpay in one area, the IRS will still hit you with interest and penalties if you underpay in another. It is never a good idea to knowingly or unknowingly overpay the IRS. The best way to "Audit Proof" yourself is to properly document your expenses and make sure you are getting good advice from your tax accountant. 3. Being incorporated enables you to take more deductions. Self-employed individuals (sole proprietors and S Corps) qualify for many of the same deductions that incorporated businesses do, and for many small businesses, being incorporated is an unnecessary expense and burden. Start-ups can spend thousands of dollars in legal and accounting fees to set up a corporation, only to discover soon thereafter that they need to change their name or move the company in a different direction. In addition, plenty of small business owners who incorporate don't make money for the first few years and find themselves saddled with minimum corporate tax payments and no income. 4. The home office deduction is a red flag for an audit. While it used to be a red flag, this is no longer true--as long as you keep excellent records that satisfy IRS requirements. Because of the proliferation of home offices, tax officials cannot possibly audit all tax returns containing the home office deduction. In other words, there is no need to fear an audit just because you take the home office deduction. A high deduction-to-income ratio however, may raise a red flag and lead to an audit. 5. If you don't take the home office deduction, business expenses are not deductible. You are still eligible to take deductions for business supplies, business-related phone bills, travel expenses, printing, wages paid to employees or contract workers, depreciation of equipment used for your business, and other expenses related to running a home-based business, whether or not you take the home office deduction. 6. Requesting an extension on your taxes is an extension to pay taxes. Extensions enable you to extend your filing date only. Penalties and interest begin accruing from the date your taxes are due. 7. Part-time business owners cannot set up self-employed pensions. If you start up a company while you have a salaried position complete with a 401K plan, you can still set up a SEP-IRA for your business and take the deduction. A tax headache is only one mistake away, be it a missed payment or filing deadline, an improperly claimed deduction, or incomplete records and understanding how the tax system works is beneficial to any business owner, whether you run a small to medium sized business or are a sole proprietor. And, even if you delegate the tax preparation to someone else, you are still liable for the accuracy of your tax returns. If you have any questions, don't hesitate to give us a call or emails at Invictus Advisors we are always here to help you and your business succeed ...read more
By Invictus Advisors May 13, 2014
San Diego Income Tax Preparation for Individuals and Small Businesses Sole Proprietor Schedule C. corporation - 1120. S-Corp - 1120S Partnership, LLC - 1065 Payroll services Sales Tax Report Affordable price Authorized E-file Provider PnL Company 8144 Miramar Road, San Diego, CA 92126 Tel: 858-357-1812 ...read more
By PnL Company April 12, 2013
Many people give money to family members as a gift in their time of need or if they come into a substantial amount of money. Giving money to a family member can sometimes be taxed; however, there are ways to avoid this this and give money to family members free of tax. ...read more
Many people have opted to learn to file their taxes themselves. This is a great way to save money, and it puts people in control of their own tax return. The process can be confusing, but there are enough resources to learn the correct method. ...read more
