As today’s tax environment becomes increasingly more complicated, LG&H encourages our clients to take full advantage of the services that we provide, including: tax forecasting, planning and representation before federal and state tax authorities.
Clarifying the Tax Reform’s Impact on You
There has been a lot of talk about what is still deductible with the new tax reform. Tax rates and many other changes will impact how you are taxed in 2018 versus how you have been taxed previously. We can help you sort that out so that you know what to expect.
Major Life Changes May Come with Tax Implications
If you are planning a life-changing event, such as an adoption, marriage or divorce, we can ease your financial worries regarding the effects this can have on your taxable income. Tax credits include child care and retirement that will lower your tax bill. If your withholding covers your tax bill we may not need to assist you in the payment of quarterly estimated tax payments, but we can should the need arise. All of the income, deductions and credits considered in determining your tax will have a different effect on your AMT tax and we can work with you to minimize both taxes.
We Work with Self Employed Individuals
Being self-employed is a lot of work. So let us help with the workload, by providing you with some tax benefit options. Is your business run out of your home? Let us advise you on how this can be done in order to minimize taxable income. If you have staff within your home; let us make sure that taxes are being withheld when they need to be. There are a number of things to consider and LG&H wants to confirm that you are looking at everything.
Foreign Reporting Regulations are stricter. Should you be concerned?
Some foreign assets may need to be reported to the IRS, such as a foreign bank account. We can prepare the FBAR and follow up with you each year in order to review filing requirements.
Retirement Concerns and Planning
Have you maximized your retirement contributions for the year? You may want to consider another type of retirement savings besides your work 401(k). ROTH IRA or nondeductible Traditional IRA contributions can give you tax free retirement funds. Are you looking to make a donation to your favorite charity? LG&H will inform you of the necessary documentation to ensure tax deductibility.
We Can Help
Our staff continuously reviews Treasury Department Rulings, Congressional Hearings, and Court Opinions to keep our clients informed of the latest developments and emerging trends. If the IRS contacts you, we are here to help.
- Peace of mind – we address your tax concerns and deal with your tax headaches
- Help in planning ways to decrease your tax liability
- Let us deal with the IRS