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Federal, State & Local Tax Compliance & Planning Services
Federal, state and local tax laws change on a daily basis, making it extremely difficult to comply with and fully understand the tax laws. Watson & Associates works hard to stay current with the latest tax law changes so we understand the impact and opportunities available to you and your business.
Although our tax return preparation services are second to none, we believe the true value in our services is helping you save tax dollars through proactive planning. We offer a variety of tax preparation and planning services designed to help you meet your financial objectives, in the following areas:
Federal, state and local tax preparation for:
• Individuals
• Partnerships
• Corporations
• Limited liability companies
• Estates, gifts and trusts
• Non-profits
Federal, state and local planning including the following:
• Selection of business entity structure
• Self employment tax minimization strategies
• Transaction strategies, including mergers and acquisitions
• Business succession planning
• Representation before federal, state and local tax authorities
• Other IRS controversies:
- Late returns
- Failure to file
- Underpayment penalties
- Social security taxes
- Improper employee withholding
- Innocent spouse relief
• Tax research and analysis
• Estate and gift planning
• Review of previously filed returns to identify tax overpayments
• Multi-state operations (including state income and local tax issues)
• Integration with financial planners
• Business plan development
• Starting a new business
• Change of ownership issues
• Profit improvement planning
• Tax projections
• Divorce tax planning
• Tax considerations of investments
• Compensation planning
• Employee benefit plans
• Cost classification and cost recovery
• Employee vs. independent contractor issues
• Inventory and other accounting methods
