Personal Tax


Let One Of Our Experienced Accountants Help Guide You

Tax preparation can be a stressful time for individuals, couples and families. You can trust our staff to partner with you to protect your interests and handle your personal accounting matters.

Preparation

For most of our clients, the first tremendous benefit is our guidance in getting better prepared for tax season.  Sometimes this will include moving receipts out of a shoebox and into a more organized monthly system.  Simple bill paying systems can help and better tracking of household expenses can also be helpful. At each step of your tax preparation process, we partner with you to ensure you are organized and no longer overwhelmed.

Finding Deductions or Credits

For families with paychecks big and small, a lack of deductions or tax credits can be an issue.  You want to maximize your tax savings and keep as much money in your pocket, but often overlook expenses that may be available.  For instance, can you deduct a portion of the cost of the new roof you put on your primary home?  Are you deducting your child care expenses, health insurance premiums, and education costs?

Correctly Taking Deductions or Credits

There are usually conditions around correctly claiming tax deductions or credits.  For instance, if you have student loan interest you may be able to deduct it from your tax return but only if you satisfy certain conditions.  Another great example is a home office – if you work out of your home what can you deduct and, more importantly should you deduct your home office?  We can help you make that decision.

Exploring new ideas

For many couples in the Bucks County, PA area, they feel they are giving too much of their income to the government and want to look for new ways to keep that income in their pockets.  Increasing your retirement savings, investing in a rental property, and making charitable donations can save you tax dollars.  However, it is critical that if you plan to employ any of these methods or others that you work with our staff to fully explore your options.

Filing of Actual Returns

We understand that when you attempt to file your federal, state, and local returns it can be a confusing time.  There are multiple forms requiring a significant amount of information and you are probably often asking yourself “am I filling out my tax return properly.”  Our staff members are experts in ensuring that your forms are filled out correctly and just as importantly, on time.

Trusts

The accounting and reporting requirements for estates and trusts may be substantial.  Trust guidelines must be followed closely with regards to beneficiary disbursements and income reporting.  A trust may also have to file a fiduciary income tax return which can be very complicated and requires expert guidance.  Our staff is qualified to assist you in all aspects of trust administration.

Estates

The death of a loved one can be a time of great uncertainty for the family as they process emotions but also have to deal with significant financial issues.  While we would love for the settling of affairs and probating wills to be easy, unfortunately, it is often a complicated time.  We partner with you, your family, and your attorneys to ensure that any issue regarding the estate tax is fully understood and properly explained.  We can walk you through the entire process, from tax filing requirements, to estate administration to the final distribution of assets.

Often, simply thinking about your personal tax situation brings about great stress and anxiety.  We can plan with you to limit your tax exposure, stay organized and ensure that even your most complicated situation is explained to you in simple to understand terms.