Tax Preparation & Assistance
While running a small business, every penny counts. Your small business may have the ability to minimize taxes which could be the difference between profitability and just scraping by. Don’t pay more taxes than you owe and hire an expert from Limitless Investment and Capital.
The new tax reform law increases both the complexity and potential opportunity in your tax planning. Limitless Investment and Capital leverages its deep tax and industry experience to look in broad scope and great detail at your business so you can navigate the changing path ahead. Our CPA’s, Enrolled Agents and Tax Advisors provide a combination of advisory services, insights, and technologies, help you understand your starting position, model the tax impact of new and amended provisions, analyze your options, and plan and execute your next steps.
Why Have Limitless Investment & Capital Prepare Your Taxes?
Extensive Knowledge & Experience – Our CPA’s, Enrolled Agents and Tax Advisors have up to date knowledge on the constantly changing deductions and credit changes with over 65 collective years of tax preparation and accounting experience.
Quality control – All returns are double-checked.
Plan Ahead – Our Enrolled Agents and Tax Advisors will plan your best payroll withholding for the upcoming year.
Reduce Taxes – Tax Planning to reduce overall taxes in the upcoming year for your business.
Deductions & Credits – Extensive review of your return for deductions and credits.
Our spectrum of business tax services are relevant for startups and small businesses, and range from tax planning, to tax compliance, controversy and risk management, including research and development, government incentives, and tax management consulting.
Top 4 Red Flags That Trigger an IRS Audit
1. Your numbers don’t match up
An examination or audit may be triggered when reported income or deductions don’t match up with the documents the IRS has on file—W-2s, 1099s, 1098s and so forth.
2. Blurring the lines on business expenses
The IRS will give a close look to excessive business tax deductions.
3. Not reporting all of your income
Unreported income is perhaps the easiest-to-avoid red flag and, by the same token, the easiest to overlook. Any institution that distributes an individual’s income will report it to the IRS, and the more income sources you have, the greater the difficulty in keeping track.
4. Your records aren’t 100% accurate
Record-keeping also is essential for outside income from part-time jobs or tutoring. If you have good records and backup documents, an examination can be fairly painless. You just supply the information requested to the IRS, any necessary adjustments are made, and everybody is happy.