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This page last updated on
May 1, 2008

 

 

What is an Enrolled Agent (EA)?

Tax Preparation & Income Tax Planning Services
Back Taxes & Other Income Tax Problems

Income Tax Preparation

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CAREFUL RESEARCH AND PREPARATION of your personal income tax returns with the objective of calculating the lowest federal and state income tax that you owe by law.

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DETERMINING WHAT INCOME IS TAXABLE AND WHAT IS NOT to ensure you pay tax only on the income the law requires. More on income

bulletCHECKING ALL ALLOWABLE DEDUCTIONS, ADJUSTMENTS AND CREDITS to ensure that we identify every personal and business deduction or credit to which you are legally entitled. More on deductions & credits
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CHECKING DIFFERENT FILING STATUS to see whether a couple will pay the lowest tax by filing joint or separate tax returns.

bulletCALCULATING ALL POSSIBLE OPTIONS FOR PART-YEAR STATE RESIDENTS to ensure clients claim the largest deductions and exemptions allowed resulting in the lowest state tax due.
bulletTAX PREPARATION FOR U.S. CITIZENS & RESIDENT ALIENS WORKING OVERSEAS - Taxpayers who meet certain requirements can exempt up to $87,600 per year (2008 limit) in earned income from U.S. taxation using the foreign earned income exclusion (click for more info).

 

CLICK HERE TO GET YOUR TAX RETURN PREPARATION PROCESS STARTED NOW!

Tax Withholding and Estimated Tax Calculation

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TAX WITHHOLDING CALCULATION to ensure your employer withholds enough from your paychecks to avoid a big tax due next April, but also to ensure that not too much is withheld so that you avoid giving the IRS an interest-free loan of excess withholding for the year.

bulletESTIMATED TAX CALCULATION to ensure you pay enough tax on income not subject to withholding to avoid tax penalties when you file your return.

Professional Income Tax Planning

bulletPLANNING THE MOST TAX-EFFICIENT WAYS TO SAVE FOR RETIREMENT, COLLEGE AND OTHER OBJECTIVES to ensure you take maximum advantage of tax exclusions and DEDUCTIONS created by Congress to encourage taxpayers to save for the future.
bulletEXPENSE DEDUCTION PLANNING to time or structure deductible expenses to obtain the greatest tax advantages permitted by law.
bulletINCOME PLANNING to time recognition of income where possible to subject that income to the lowest available tax rates.

Representation for Audits, Back Taxes and Other Income Tax Problems

bulletAUDITS – A licensed tax professional will review your return and supporting documents, prepare a pre-audit strategy and represent your tax positions during the actual audit.
bulletAPPEALS If an IRS auditor determines additional tax is due, we can review the audit report and research possible grounds to appeal the audit findings, then represent you at the IRS appeals hearing.
bulletBACK TAXES -- Unfiled back tax returns are building up every day, on top of any tax due and penalties the IRS has or will assess.  We'll prepare and file those back tax returns for you, then start the process of working out a payment plan for the amount due the IRS and/or your state.
bulletCOLLECTIONS  If the IRS has issued an intent to levy on a taxpayer's property or actually seized property, there are appeals avenues available to delay IRS action and propose other options including installment payments or an Offer in Compromise for a reduced amount.  NOTE that there are specific time limits on various appeal options, so contact a tax professional immediately if you receive a levy notice.

The first typical tax service for a new client is tax preparation of the previous year's federal and state tax returns, but our services do not stop there. 

 

Brookwood Tax Service also offers calculated projections of tax withholding and estimated taxes, to ensure our clients are paying the proper amount of taxes to the IRS throughout the year to avoid penalties and interest for underpayment, but also to ensure our clients are not paying in too much and giving the IRS an interest-free loan over the course of the tax year.

 

After the tax filing season, we also offer all clients additional professional income tax planning services to emphasize a proactive approach to managing future savings, deductions, exemptions, tax preferences and income recognition.  A professional tax plan puts the taxpayer, not the IRS, in control.

 

Should a client's return be selected by the IRS for examination, we also offer additional representation services to advocate for the client before the IRS.  An authorized representative can even appear instead of the taxpayer at IRS audits and hearings.

  Do You Work
Outside of the U.S.?

 

If you live and work in a foreign country, you may be able to exclude up to $87,600 of earned income from tax.

 

Click here for more on The Foreign Earned Income Exclusion.

 

 

  Income Tax Planning
Opportunities

1. New Tax Laws

2. Retirement Savings

3. Retirement Plan

    Distributions

4. Education Savings or

    Deductions

5. Timing income

    recognition

6. Grouping deductions

7. Asset sales planning

(including home sale)

 

 

 

 

National Association
of Enrolled Agents

 

 

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