Name: Tax Accountant
Brand: LBS Tax

Tax Accountant

Here at LBS Tax, we provide a number of accounting services to our business clients to help them make the important decisions that guide the growth of their companies.

General Ledger Set Up and Report

We can help you set up a ledger that will hold all of your financial records and make it easier for you to manage your business’ assets, debts, credits, and accounts.

Financial Statement Preparation

Each year we will help you prepare your financial statement, using our expertise to assemble all of the necessary data related to your company’s financial position.

Accounting Systems and Support

A good accounting system can prevent many issues arising later on in assembling financial statements and other reports. We help a number of businesses set up, manage, and maintain their accounting systems.

Cash Flow Statements

Analyze your business’s financial health with our professionally prepared cash flow statements, which allow you to see the amount of cash coming into your business and the amount of cash going out. We also offer Payroll Services in Chandler.

Budgeting

Regardless of the size of your business, budgeting is an important tool in maintaining your financial stability. Our experienced staff can help you set up an appropriate budget for your business. Business Tax Consulting is one of LBS Tax & Services specialties!

Training and Support of Clients’ Bookkeeping Staff

With so many changes occurring in tax law today, a mistake made in your bookkeeping can be disastrous for your business. As a professional Tax Accountant we provide regular training and support for your bookkeeping staff, keeping them informed as to the latest changes and helping them record your company financial transactions. We are well-versed in tax law and can assist in a variety of ways including a freedom of information act request, collection appeals, and tax resolution.

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.

Enjoy peace of mind when it comes to your financial health. Call us today at (480) 664-1249.

Tax Accountant Scottsdale AZ

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