Tax Preparation, Tax Planning, and Deductions

Tax planning is vital, no one likes surprises at the end of the year. Depending on your business, tax planning may be necessary all year, in the beginning of the fourth quarter, or as a year-end review. Be proactive and make better decisions while you still have time. In order to provide you the best possible tax reduction, we use the following procedures:

Tax Season Will No Longer Be A Burden.

Business Income Tax Returns

Choosing the proper Business Organization structure can save you thousands in taxes every year. Understanding the benefits and consequences of choosing which structure is right for your business is an important first step. Maximizing those benefits is something that our experts can assist you with deciding. We can prepare and file returns for any organizational structure: Sole Proprietor, Limited Liability Company (LLC), Partnership, Corporation or Non-Profit. But what’s just as important is that we help you understand how the tax generated from these business structures affect you – the taxpayer.

Personal Income Tax Returns

Whether your needs are filing a simple Income Tax Return to report income from a job or a more complicated return to include Business Pass through income. We can help. Maybe you sold stocks, inherited property or sold your home and moved out of state, LKM Accounting and Tax has the ability to file not only your Federal Income Tax Return, but your State Return in all 50 states. Our professionals are required to update their skills and knowledge annually to ensure your taxes take advantage of every possible deduction you are allowed. Not sure we can help? Bring in your current return for a free evaluation.

Sales Tax Filing and Reporting

Besides the Annual Business Income Tax Return, businesses that sell tangible goods are required to file Sales & Use tax returns on intervals set by the State Taxing Authorities. What’s a taxable sale and what’s not can get complicated. An item such as freight may be taxable in one instance then not taxable in a separate transaction. Services can also be taxable depending on the service performed. At LKM Accounting, we understand the intricacies of complicated sales tax reporting requirements. We create systems that can correctly monitor and report taxable purchases to ensure you are not overpaying or underpaying your sales tax requirements.

Property Tax Returns

If you own a business and received a Statement of Personal Property, we can assist you with those returns too. By properly accounting for your business assets, we can easily prepare your Statement of Personal Property with your Local assessor and take one more task off your do to list.

Entrepreneur


Do you find yourself dreaming of being your own boss? Feeling like you are in a dead end, tired of making money for someone else and have that strong desire to step out of the nest and fly on your own? Well, before you do, come and chat with us so we can help you make a successful change from worker to successful business owner. Decisions like determining your initial business structure, registering with Tax and State Authorities, Getting a Business ID and setting up your Point of Sale or Financial records can seem overwhelming and that’s where our expertise shines. We’ve helped dozen’s if not hundreds of individuals make that same decision.

Making that decision can be a huge challenge – both emotionally and financially. But things are always smoother when you have a trusted partner whom you can bounce ideas or questions off of before diving into an empty pool head first. The truth is 90% of all businesses close in the first 5 years and of the 10% who survive, 50% of those will close before they’ve reached 10 years. LKM Accounting has been in business for over 15 years managing too withstand the test of time. We love sharing that knowledge with you to help you reach your maximum potential and that longevity goal as well.

Come talk to us. Pick our brain, we’re as excited to meet you as we are to help you launch your dream.

Free Consultation For New Clients!