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Tax Accountant Scottsdale AZ

Your Reliable Accounting Partner for Businesses & Individuals

Tax Accountant Scottsdale AZ

At LBS Tax, we provide a full range of tax and accounting services designed for business owners, independent professionals, and companies of all sizes. Our experienced tax professionals and CPA firm help you simplify financial planning, manage tax preparation, and develop effective tax strategies to minimize tax liabilities and maximize tax savings.

General Ledger Setup & Reporting

A well-organized general ledger is the foundation of your financial system. Our accountants help you set up and maintain accurate ledgers, ensuring proper tracking of assets, liabilities, credits, and expenses. This structure allows business owners to make informed decisions and maintain compliance with tax laws.

Financial Statement Preparation

Understanding your company’s financial position is crucial for growth. Each year, we prepare detailed financial statements, including income statements, balance sheets, and cash flow reports, that give you clear insights for tax planning, tax filings, and long-term financial stability.

Accounting Systems & Support

Choosing the right accounting system is critical for efficiency and compliance. Our team specializes in implementing and supporting accounting software tailored to your business needs. This ensures accurate financial reporting, streamlined tax return preparation, and easy access to data through our secure client portal.

Cash Flow Statements

Managing cash flow effectively helps prevent financial surprises. We provide comprehensive cash flow statements to track money entering and leaving your business, supporting better financial planning and helping you meet short- and long-term financial goals. For added convenience, we also offer payroll solutions and payroll bookkeeping services to keep your operations running smoothly.

Budgeting & Tax Strategies

Business Tax Accountant Scottsdale AZ

Tax laws and compliance requirements are always changing, making accurate bookkeeping essential. Our accounting firm provides bookkeeper support services and ongoing staff training to ensure proper ledger keeping and compliance with tax regulations. We also assist with amended returns, tax resolution, and collection appeals, protecting your business from costly errors.

Common Tax Questions? We Have Answers

Whether you need help with personal taxes, partnership tax issues, or gift and estate planning, our tax return specialists and consulting services ensure you receive expert advice tailored to your needs. From tax return preparation to resolving complex tax problems, we’re here to help every step of the way.

Why Choose LBS Tax for Accounting & Tax Services?

  • Experienced Scottsdale CPAs & tax professionals
  • Complete tax services for individuals & businesses
  • Personalized tax planning to reduce liabilities & increase savings
  • Payroll solutions & bookkeeping support for small businesses
  • Secure client portal for easy access to your financial data

Training and Support of Clients’ Bookkeeping Staff

With constant changes in tax laws, accurate bookkeeping is more critical than ever. As a trusted accounting firm, we provide ongoing training and support to your bookkeeping staff, ensuring compliance with current tax regulations. Our expertise extends to handling tax resolution, collection appeals, and Freedom of Information Act requests, helping businesses maintain financial health and regulatory compliance.

Common Tax Accountant Questions

What are the tax implications of starting a new business?
Starting a new business can have significant tax implications. You may be required to register for a tax ID number, file for various licenses and permits, and pay various taxes such as income tax, sales tax, and payroll taxes. It is important to work with a tax accountant to ensure you understand and comply with all applicable tax laws and regulations.
How can I minimize my tax liability as a small business owner?
There are many strategies that small business owners can use to minimize their tax liability, including taking advantage of deductions and credits, maximizing retirement contributions, and using tax-efficient business structures. It is important to work with a tax accountant who can help you identify opportunities to reduce your tax burden while staying compliant with all tax laws.
What deductions and credits am I eligible for as an individual taxpayer?
As an individual taxpayer, you may be eligible for a wide range of deductions and credits, such as the standard deduction, home mortgage interest deduction, and various education and child-related credits. Working with a tax accountant can help you identify all of the deductions and credits that you are eligible for and ensure that you claim them correctly on your tax return.
What are the tax implications of investing in stocks, real estate, or other assets?
Investing in stocks, real estate, or other assets can have significant tax implications, including capital gains taxes, dividend taxes, and property taxes. It is important to work with a tax accountant to understand the tax implications of your investments and develop a tax-efficient investment strategy.
What steps can I take to avoid an audit by the IRS?
While there is no guaranteed way to avoid an audit by the IRS, there are steps you can take to reduce your chances of being audited. This includes keeping accurate and complete records, reporting all income and deductions correctly, and avoiding red flags such as claiming excessive deductions or having income sources that are significantly different from prior years. Working with a tax accountant can help ensure that your tax return is accurate and complete, reducing your chances of being audited.

Contact LBS Tax Today

Enjoy peace of mind knowing your tax and accounting needs are handled by professionals. Call us at (480) 664-1249 or contact us online to schedule a consultation and discover how we can help you achieve your financial goals.

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