All U.S. Citizens and residents with taxable income must file annual tax returns with the government. There is a lot of value in having a tax professional like our Enrolled Agents and tax accountants do it for you.
We often find deductions that our clients qualify for that other tax preparers are unaware of or have overlooked. These deductions are much-needed by our clients and save them real dollars at tax time.
Just as important as finding deductions to reduce taxable income is knowing how one type of income or loss can affect a different kind of income, passive vs active income and loss sources, and capital losses vs ordinary losses – knowing how to report self-employment income properly and other non-W-2 wage income. Understanding how to compute capital gains and losses, short-term vs long-term, and how they are taxed differently is essential. Knowing rental loss rules, such as the “passive activity loss rule,” is crucial if you invest in real estate.
If you own a business, you may have a tax expert who knows what a corporation or partnership (LLC) can deduct and how the profit is calculated and how that profit is taxed, and understand the flow-through rules that carry profit or loss from your company return to your return where the profit is ultimately taxed.
We have extensive experience helping small businesses, their owner and partners, self-employed individuals, and investors that require a tax professional, including:
We strive to reduce your tax liability. Many new clients contact us to review, amend, and re-file their prior-year tax returns. We have often secured significant tax refunds after reviewing prior-year tax returns and re-assessing them for all applicable deductions or tax breaks. Do you have a prior-year tax return that needs to be reviewed? If so, reach out to us and let us know so we can schedule you for a consultation with a tax expert in our office.
What To Do Before We Prepare Your Tax Returns
If you’re looking for tax preparation in Greensboro, North Carolina, let us show you what sets us apart. Before you reach out to us for assistance, you may want to review our tax preparation checklist.
What is an Enrolled Agent?
An enrolled agent is a person who is licensed by the U.S. Treasury Department to represent (“defend”) taxpayers in disputes with the Internal Revenue Service (IRS):
Enrolled Agents must adhere to strict ethical standards and complete 72 hours of continuing education courses every three years to retain their license. Enrolled agents, like attorneys and certified public accountants (CPAs), have unlimited practice rights. This means they are unrestricted to:
- Which taxpayers they can represent
- What types of tax matters they can handle
- Which IRS offices they can represent clients before
Find a Tax Preparer You Can Trust at Swaim & Associates
When you want tax preparation specialists, randomly picking a result after searching for “tax preparation near me” will not give you what you need. You want to know if your tax returns will not lead to an audit by the IRS or if you’re leaving money on the table due to missed deductions or overstated income.
When we provide tax preparation services, we will work with you to ensure everything on your tax return is legally correct. We will also do our best to ensure we get you the maximum refunds, and on the off-chance an audit occurs, we offer our representation services to defend you against IRS-enforced collection actions such as garnishments and asset seizures. We will negotiate a payment plan with the IRS on your behalf or possibly have the collection of the tax suspended for one year by having your debt classified as “currently not collectible.” We’ll also give you tax advice to help with future tax planning.
Set up an appointment with a simple call to our Greensboro, NC office at 336-433-9997. We will answer all of your questions during that call and then in your in-person meeting. You should fully understand your tax situation and the tax consequences of your personal and business decisions. We can also provide tax help regarding tax penalties for any action you may have incurred.