Year-End Tax Planning

Defer income until 2022 while increasing deductions until 2021.
If you do so, you may be able to take full advantage of higher deductions, credits, and other tax incentives for 2021 that are phased out at certain levels of adjusted gross income (AGI). Married couples with children with an AGI of roughly $150,000 should investigate measures to reduce their AGI so that they can take advantage of the enlarged child tax credit, dependent care credit, and any missed recovery rebate credits (stimulus checks).
Taxpayers who expect to be in a lower tax band next year due to changed financial circumstances should consider deferring income. BBBA proposes a new 5% surtax on households with an AGI of more than $10 million, as well as an extra 3% tax (for businesses).

Advise clients on income tax provisions and develop tax-efficient alternatives.
Identify the tax consequences of a client’s financial transactions and provide advice on tax mitigation methods.
For existing and new client projects, we conduct tax effect analyses.
Prepare and e-file clients’ annual and recurring tax returns.
Respond to tax authorities’ questions and objections on behalf of clients.
Assist with tax refund claims.
Represent clients in front of taxing authorities such as assessors, commissioners, judicial forums, and appeal tribunals.

Clients are guided and assisted in registering with the sales tax department.
Advise clients on important sections of indirect tax regulations, such as sales tax, VAT, special excise duty, and capital value tax, among others.
Indirect tax laws require you to e-file monthly and other periodic returns.
Assist with tax refund claims.
Represent clients in front of taxing authorities such as assessors, commissioners, judicial forums, and appeal tribunals.