Tax season is to accountants what the holiday shopping season is to retailers, and Joan Halter CPA is no exception. In fact, many people only reach out to their accountants around tax season. We believe this is a missed opportunity! Today, we’re sharing 5 things your NJ CPA can help you with outside of tax season.
1. Beneficial Fund Allocation
Tax representation is all about ensuring that your taxes are completed accurately and that you keep as much of your hard-earned funds as possible. However, working with Joan Halter CPA to establish beneficial fund allocation can go a step further by making sure the money you’ve saved works FOR you in the long term.
Whether you’re saving for retirement, diversifying your investments, or want to reinvest your income into your own business, we would love to be your advisers.
Bookkeeping is an essential tool in service of proper money management and business expansion. If it’s been more than a year since you’ve worked with a bookkeeper, please consult with us. We’ll tell you what you’re doing right, and where you could make a few changes to gain the most benefit throughout the year.
3. Tax Planning
Tax preparation and tax planning may sound similar, but tax planning is the best way to make sure you avoid unexpected expenses next year. As we sift through your current tax setup, we’ll let you know whether you’re under- or over-paying. Additionally, we can advise you on essential organization tactics that will make submitting your tax preparation files easier than ever before.
4. Tax Law Changes as They Apply to You
In a single year, there can be multiple changes made to tax laws. In order to be sure your withholdings are still set correctly, Halter CPA can keep you updated on tax law changes that apply to your personal or business-related taxes. Don’t be caught off-guard by novel tax laws this coming April.
5. Audit Representation and Establishing an Installation Plan
Audit: just the word is enough to make one feel a bit anxious. Audits can happen out of the blue, and they are almost always stressful. Having your NJ CPA team in your corner to ensure that your previous year’s tax returns, deductions and withholdings are supported with physical records is guaranteed to make the process less intimidating. We’ll be here for you from the day your audit notification letter arrives until the day the process is completed.
Should you find out that you do owe a significant sum to the IRS, you may wish to establish an installment plan. The IRS is normally amenable to this approach, but they will not suggest it for you.
Our team will help you assess your budget, choose a monthly payment plan that will place minimal stress on your financial stability, then submit a proposal to the IRS on your behalf. Paying this debt over time will have no negative impact on your credit, providing you make your payments on time.