Orlando, FL accounting firm
Tax Preparation Services vs Tax Planning Services
Many small business owners believe they are getting tax planning services when really, they are only receiving tax preparation services. At Perez Goree & Associates, LLC, our goal is to help clarify the differences between the tax planning and preparation and provide the support you need to manage your finances. As part of our package of tax planning services we offer bookkeeping, financial reporting, small business payroll, and business advisory.
No matter what accounting and tax services you need, we're ready to help. Request a free consultation now or call us at 407-630-4684 to learn more.
Tax Preparation
- Usually consists of one meeting between tax preparer and client.
- A historic perspective of client's personal and business economic situation. Current and proposed tax policies not factored into tax filing process.
- The tax preparer only processes tax documents provided by client and offer little if any personalized strategies to reduce taxes.
- Clients may only interact with tax preparer once a year when time to file tax returns which are after year-end when most tax strategies for prior tax year have expired.
- The tax preparer does not in many cases offer tax advice.
- A compliance service. Ensures tax forms are completed accurately.
Tax Planning
- Consists of a series of strategic meetings between the tax advisor and client.
- A current and forward-looking perspective of client's personal and business economic situation. Current and proposed tax policies factored into planning process.
- The tax advisor suggests personalized strategies to client to reduce income taxes for current and future years.
- The advisor initiates contact with client throughout year and recommends proactive tax strategies for client to consider.
- The tax advisor can and in most cases does prepare tax returns.
- An advisory service. Goes beyond completing tax forms accurately and considers multiple strategies to reduce or eliminate tax liability.
Bookkeeping and
Financial Reporting
We know that time is a valuable resource for every small business owner so we start by finding ways to make managing your finances quicker and easier.
Read MoreComplimentary Tax Analysis
We perform an analysis of your tax return to see if there are any missing deductions, credits, or opportunities to shift income or expenses. We'll quantify the savings, and you can decide if you want a detailed tax plan looking back and forward multiple years.
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