Charitable Giving Strategies
It is beneficial to have a strategy when it comes to charitable giving. Taxpayers often give to charity without including their taxes as part of their plan. While tax savings may not be the reason that a taxpayer gives charitably, there are advantages that can be missed without the proper planning. Our CPAs have the knowledge and experience to inform you of the strategies.
It is important to understand that when going through proper channels, charitable donations can be exempted from taxes. At [smith n smith] we can help you strategize so you can effectively choose your charities and set you up with proper charitable giving services in order to help you save as much as you can on taxes.
You may not be interested in tax savings when donating to charity. However, there are options that allow you to apply for deductions on your taxes. It is wiser to obtain these facilities and avoid financial complications later.
Our team of experts at Smith & Smith & Ruiz CPAs provides you with proper planning so you can make the most of charitable giving services and save as much as possible on taxes for the benefit of your own financial situation.
A cardiologist received a letter from the IRS for delinquent payroll taxes that had already been paid.
The cardiologist was sure that the payroll taxes had been paid however, he needed help to prove this was the case. Our CPAs reviewed the tax payments and reconciled them to the various tax liabilities. Upon completion, it was determined that the aforementioned taxes were indeed paid. The issue was that they were applied incorrectly.
A group of doctors were looking for a CPA firm to help them form their new practice.
A group of doctors had been working for various practices and decided to form their own medical entity. They were sure that they could succeed given their experience and knowledge in their field of medicine. Needing a CPA firm to advise them on various tax decisions, they decided to seek the services of Smith & Smith & Ruiz CPAs, LLC.
An Oil & Gas company needed guidance on how to handle their growth.
They started as a sole proprietorship and were in search of a CPA firm that could advise them on how to handle the growth of their company. After searching for a firm, they decided to meet with Smith & Smith & Ruiz CPAs, LLC. In our initial meeting, we learned of their business and inquired about their goals. We decided that it was best for them to incorporate.
An owner of an auto shop came to Smith & Smith & Ruiz CPAs, LLC with a letter from the IRS.
This letter stated that an audit would be taking place. Having never been through an IRS audit, the owner needed help to prepare. We advised him on the process and shared our past experiences. When the audit came, we were there with him every step of the way.
The Dreaded Letter from the IRS.
A client received a letter from the IRS regarding his prior year tax return. Unfortunately, he was being audited. The IRS believed that expenses for his LLC were overstated and disallowed certain deductions. In addition, the IRS stated that the client owed thousands of dollars in penalties alone. We met with this client and went over all of the relevant documents. We were able to guide him through the process and provide him peace of mind. Upon review of transcripts and various documents, we met with an IRS agent on behalf of our client. This …
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