Planning is the key to successfully and legally reducing your tax liability. We go beyond tax compliance and proactively recommend tax saving strategies to maximize your after-tax income. We thoroughly investigate any issue and develop optimal solution for our clients. Tax area is very complex and law is changed frequently. It is very important to understand what the tax consequences of each decision you make as business or individual.
Our strengths are understanding how each accounting transaction will flow on a tax return and structure it to minimize tax liability.
Businesses and individuals pay the lowest amount of taxes allowable by law because we continually look for ways to minimize your tax liability throughout the year, not just during tax season.
Preparing income tax return can be laborious, convoluted and cumbersome task. According to a study released by the US Government's General Accounting Office last year, most taxpayers (77% of 71 million taxpayers) believe they benefited from using a professional tax preparer.
Tax laws are so complicated that even a relatively simple return can be confusing. It is just too easy to overlook deductions and credits. Yet penalties for underpayments are costly. Even use of computer software program will not substitute for the assistance of an experienced tax professional.
Our tax preparation services include:
• Individual income tax returns
• US Expatriate income tax returns
• US tax returns for foreign nationals
• C corporation returns
• S corporation returns
• Partnership, LLC & LLP
• State and local returns
• Qualified benefits plan reporting
• Informational reporting returns
• Excise taxes
• Tax elections
We represent clients before the following authorities in connection with examinations of their returns, appeals, requests for rulings, and answering filing requirement questionnaires and assessments:
• Internal Revenue Service
• State Departments of Revenue
• Sales and Use Tax
• Foreign Jurisdictions
We structure any of the following transactions in order to help our clients minimize their tax liability.
We provide tax planning and compliance for the following property transactions:
• Like kind exchanges.
• Involuntary conversions.
• Installment sales.
• Sale of business property.
• Sale of residence.
• Mixed use of property.
• Business or Rental Use of Home.
• Short sales.
We educate option holders on the tremendous tax planning and savings opportunities available with their ISO's, ESPP's, NSO's.
We prepare the often complex tax return associated with option holders and assure the alternative minimum tax (AMT) is handled properly and all AMT credits are tracked and refunded.
Tax laws filing and compliance requirements vary from state to state and often times are complicated and involved, yet non-compliance is subject to stiff penalties. Laws governing the sales tax may require it to be included in the price (tax-inclusive) or added to the price at the point of sale. A portion of the sale may be exempt from the calculation of tax, because sales tax laws usually contain a list of exemptions.
We review clients' inventory in order to find tax exempt items. We provide our clients with clear picture of the requirements and policies for each state they doing business in and help to shape sales & marketing in various states.
We also assist with administration of the sales tax payment process and filing sales tax returns in all states.
If you have a business or work as an employee or consultant for a company, you'll have to allocate your earnings between the various states in which you worked.
In many situations the calendar or log book is essential, and will provide the basis for what you need.
The results might sometimes be surprising.
We can help you to avoid multistate tax issues and do proper tax reporting with each state authority.
Feel free to call us (651) 439-5990 or email us Leo@Leoneuman.com whenever you have a question or concern.
- High Quality
- Client Success
Industries We Serve
- Small Business
- Real Estate
- Service Industries