Tax Services for Businesses and Individuals
Whether you're a small business owner, an aspiring entrepreneur, or an individual taxpayer, the goal for anyone filing their taxes is to take advantage of any opportunities for minimizing liabilities while maximizing their earnings.
The team at Hollins Associates CPAs, PLLC applies a detail-oriented approach to help you organize and prepare your financial records for tax season and beyond. Why pay the government more than you owe? Let us help you save your hard-earned money.
Call us today to experience the assistance we give to each client through our professional insight and personable care.
What Can a Tax Professional Do That I Can't Do Myself?
Whether you're trying to fully understand your finances or save money, you might think that it's a good idea to prepare your taxes yourself. But you may not have anticipated all the complicated IRS terminology, confusing tax laws, and their constant changes to take you for a loop.
Here's how our team of tax professionals can help you:
- Organize your tax information
- Fill out tax forms accurately and on time
- Look for any deductions, credits, or incentives
- Help you develop tax-saving strategies
- Provide year-round guidance
- Help you through an audit
- Support you through problems with the IRS
Our team of expert accountants and our founder and CPA continue their knowledge in all the ways of tax filing, laws, and obligations to help you benefit the most from your return.
Which Type of Taxes Do You Help With?
At Hollins Associates CPAs, PLLC, we work with businesses, individuals, and non-profits of many diverse industries to keep their tax information organized and on track. Regardless of your tax situation, you can rely on us for the following:
- Individual tax returns
- Trusts and Estates
- C corporation filings
- S corporation filings
- LLC corporation (partnership) filings
- Nonprofit form 990
We have over 15 years of experience in handling the taxes of professionals in such industries as personal service, health care, construction, information technology, and real estate.
Do I Need Professional Assistance for My Personal Taxes?
Preparation for taxes can range from very complicated to exceptionally easy. For those with a lot of deductions, the best option could be to use a professional tax service.
The more complex the forms, the more it makes sense to hire a professional to prepare your taxes. If you have few or no deductions, you may be able to prepare your taxes yourself.
To find out how our professional tax services can help you, contact Hollins Associates CPAs, PLLC today!
Do I Need Expert Tax Help for My Business Taxes?
You can certainly prepare your tax return for your business. However, business taxes are far more complicated than personal returns.
As a busy entrepreneur, chances are you won't have the time necessary to ensure your forms are organized, completed correctly, without errors.
Here are five reasons you should consider a professional tax preparer for your business:
- You're a busy business owner short on time
- The thought of preparing your business' taxes overwhelms you
- You don't understand how your business' financial activities can affect your taxes
- Your tax situation is complicated
- You're not sure of your tax liabilities, potential write-offs, or deductions
When Do I Need to Start Preparing My Taxes?
We always encourage you to file by the tax deadline— typically the second or third week of April. Wait too long, and you could miss the deadline, setting yourself up for high interest, penalties, and unwanted attention from the IRS.
The earlier you begin to prepare your tax information, the more likely you will be able to experience a smooth tax return process. Ideally, you should be gathering and organizing your information all year-round.
What is the Value of Tax Planning?
Skilled tax planning is the processes of helping you save, so you can invest more money, creating a financial boost rather than a financial burden during the tax season.
Professional tax planning looks into the tax-law requirements and from there, strategizes to help you take full advantage of potential tax deductions and tax credits, making good use of all available breaks under the Internal Revenue Code.
These strategies are designed to help you achieve your financial goals and are also used to achieve your business goals.
I Have Received Unwanted Attention from the IRS – What Should I Do?
You wouldn't go to court without a lawyer, why try to deal with the IRS without a qualified team of tax resolution professionals by your side?
Whether you're a small business owner or an individual taxpayer, our firm can assist you with the following:
Back Taxes Owed
Back taxes are any taxes you owe after the year that remain unpaid. If you let an entire filing year go by without paying what you owe to the IRS, it's considered "back taxes."
Our firm has experience negotiating directly with the IRS on your behalf to agree on a suitable settlement option. These can include an offer in compromise, installment agreements, penalty and interest for back taxes, and a currently-not-collectible status.
Liens and Levies
Liens are claims that the government makes on your property when you're past due on your income taxes, including real estate and other assets. Levies are the literal seizure of your property to pay taxes owed.
Our team works with the IRS to help get these actions removed as well as help you avoid penalties in the future.
The IRS can use a wage garnishment against your paychecks to collect back taxes that you owe. We can make the right arrangements on your behalf to settle your debt and stop your wages from being garnished.
If the IRS audits your tax return, they want a closer look at your return to see if you included all your income and only took the deductions and credits that you were allowed by law.
We will work with the IRS on your behalf to help and support you during an audit.
Contact Our Haymarket Tax Professionals
Contact Hollins Associates CPAs, PLLC today for your consultation and to see how we can help lower the tax liability for yourself or your business. We provide personalized tax and accounting support throughout Haymarket and the surrounding communities.