Individual Accounting and Tax Services
The focus of my practice is on the individual. By paying attention to and working together with my clients I have found this helps avoid unexpected adverse tax results. The tax characterization of transactions is based on an understanding of relevant transactional facts which is more easily achieved with good communication between the CPA and the client. Our process is based on the principal of effective collaboration between my clients and myself.
From my perspective it is important to remember that a tax return is a contestable document. Your interests are well served by your knowing what to expect in the event of an inquiry from either the IRS or FTB and being prepared to defend amounts reported on your tax return. Treasury Regulations clearly state in discussing whether a taxpayer acted with reasonable cause and in good faith in respect to an underpayment of tax, “the most important factor is the extent of the taxpayer’s effort to assess the taxpayer’ proper tax liability”. Passive interest in one’s own tax return is not the optimum practice when dealing with the tax authorities and attempting to mitigate the imposition of certain penalties. We can help you meet this burden.