Enjoy the Benefits of Oxnard Tax Filing

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A professional tax preparer can provide services that are difficult to get from a self-filing program. Trust Oxnard tax filing to untangle tax law and ensure that your taxes are filed accurately and legally.

Top Reasons You Shouldn’t Go it Alone

While an online tax prep program may be enticing, there are many reasons you should hire a professional. Consider the following:

  • If you are audited, the online program can’t and won’t represent you in court or testify on your behalf.
  • The tax law is constantly in flux. Professionals are required to stay on top of federal, state, and other local tax laws. They can make sure your return is filed according to current requirements.
  • A tax pro can give you advice on steps you can take now to save on your return for next year. Planning ahead is invaluable.
  • Hiring Oxnard tax filing can save you money. Just one additional deduction or credit you may have missed can easily exceed the cost of hiring the preparer.
  • Your time is worth money. How much time do you save by not filing your taxes yourself? Multiply that by what you would earn if you worked those hours.

Oxnard tax filing is more than just convenient, it’s a smart choice for expert tax services.

Avoid the Audit: Use the Best Tax Return Preparer in Oxnard

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While it is impossible to completely avoid an audit by the IRS, using the best tax return preparer in Oxnard can significantly reduce your chances of catching the government’s attention. A pro preparer can spot any trouble areas on your tax forms that may serve as an audit flag. These areas include:

  • Missing data. If you did a side job and lost the 1099-MISC or forgot to report the dividends on your 1099-INT, the IRS will notice and so will your tax preparer. He or she will make sure the paperwork and the numbers on the forms match.
  • Incorrect deductions and credits. The amount and type of deductions and credits you are allowed to claim can change every year. Use the best tax return preparer in Oxnard to insure you have the right ones.
  • Business loss: It could be that your business sustains a loss every year. However, the IRS looks askance at businesses or individuals that continually lose money. Your preparer can make sure your losses are legit and help you find ways to report them on your forms correctly.

The Details Matter

In addition to the above, an experienced tax preparer will check the small things, such as math and social security numbers. When dealing with the IRS, the details count.

Swap DIY Taxes for a Tax Preparation Office in Oxnard

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As you prepare for tax day, do you know how you are going to file your taxes? While many people choose to trust a tax preparer or accountant, some do try to brave the tax paperwork on their own. Which should you take part in? If you are used to filing your own taxes, here is why you should reconsider.

Defense Against Novice Mistakes

To visit a tax preparation office in Oxnard,  you can have  stress-free tax time. When you file your own taxes, you run the risk of errors that could cost you your refund or force you to pay more in taxes. Tax law is complex and always changing. Odds are you do not know precisely how many different deductions you can make or other circumstances that could help you.

Reliance on Experienced Preparers

Do not overlook experience when it comes to preparing for your taxes. When you walk into a tax preparation office in Oxnard, you have experience to back you. Not only do official preparers have education and often have degrees in accounting, they are up to date on the laws and used to working with people like you.

DIY tax filing can be the source of many different mistakes. You can avoid those the moment that you walk into the office of a tax preparer in Oxnard.

Tax Representation in Oxnard: Do Not Face Your Audit Alone

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Audit defense, or tax audit representation, is where a tax professional stands on behalf of a taxpayer during an income tax or IRS tax audit. If you are audited by the IRS, to have tax representation in Oxnard may be crucial.

You’ve Been Audited, What’s Next? 

When an audit happens, don’t panic. Most audits are simply a letter requesting more information about your tax returns. In other cases, you may have to meet with an agent about your tax forms. Stay calm, don’t ignore the letter and write back as soon as possible.

Choose Tax Representation 

In some cases, an audit may be more complicated than sending in your 1099 forms. In these cases, look for an enrolled agent. Excella Tax, for instance, provides IRS audit representation in Oxnard. An enrolled agent has experience dealing with IRS and state audits. If you have never handled an audit before, this will make your experience easier. Many taxpayers become intimidated during an audit. A representative will ease your mind.

IRS representation in Oxnard takes some of the burden off the taxpayer. Tax representation helps prepare your case. In addition, if you have representation, you can trust that the firm has the experience and knowledge to ensure that you come out of your audit with success.

 

How You Benefit From the Responsibilities of a Tax Preparer in Oxnard

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A tax preparer in Oxnard must prepare and submit income tax returns to the IRS. Correct tax filing is crucial and mistakes incur penalties and late fees for the taxpayer. This is why it’s crucial for a tax preparer to earn a client’s trust. At the end of the day, a preparer’s responsibilities will benefit the client. Here is what they have to do.

Interview All Clients

Before filing a tax return in Oxnard, the preparer has to interview his or her clients fully. These questions will determine which forms they need to prepare. Some of the information gathered includes:

  • Annual income
  • Deductions
  • Expenses
  • Exemptions
  • Businesses owned

The more thorough the interview process, the more likely the tax preparer is to save the client the most money and to file the taxes accurately.

Gather All Financial Information

It is the responsibility of the tax preparer to collect all of the financial information. They will gather income statements, receipts, names and identities of dependents and any other necessary tax forms. As the client, you don’t have to worry about forgetting important financial information.

Complete All Tax Forms

The tax preparer will fill out all the forms and file the tax return in Oxnard. Some may utilize professional software to ensure that they file all forms and fill each one out correctly. Without software, the IRS offers fillable forms to perform calculations easily. The preparer will inform the client of tax refunds or the amount of taxes due. Once completed, it is up to the tax preparer to file the income tax return. This way, you don’t have to about late fees or slow processing times.

To hire a tax preparer in Oxnard takes a lot of responsibility off the client. It is up to the tax professional to go through the entire tax filing process. This takes a huge burden off the taxpayer because you don’t have to worry about getting everything right.

Choose the Best Tax Preparation in Oxnard Over Personal Software

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If you’re on the hunt for the best tax preparation in Oxnard, you might catch yourself deciding between a tax preparer and tax software. While both options are useful, many people find a tax preparation service to be the best option. Here is what a tax preparer offers that software does not.

An Understanding of Tax Complexity 

If you have a complex tax situation, utilizing software may not be the safest option. Here are some situations where may need a professional service:

  • You went through a major life event in the last year
  • You want to deduct legitimate expenses
  • You own your own business or sideline businesses

When tax filing in Oxnard, a tax prepare has a deeper understanding of the intricacies of tax preparation. Software can’t provide the advice that a preparation service can.

A Flexible Schedule 

If you use software, then you still have to take time out of your day to prepare and file your taxes. Busy schedules can make tax time a giant burden. After compiling the necessary documents, it still may take you up to 6 hours to complete the forms. Tax services have the time.

Proficiency in the Tax Process 

If you have never went through the process of tax filing in Oxnard before, you’re more likely to be overwhelmed. Tax software is helpful but you have to keep in mind that it relies on the information that you input. You can make mistakes that it won’t catch. How up to date are you on tax law or how new tax bills affect you? The tax preparer has to be on top of state and local tax law, even if you aren’t.

The best tax preparation in Oxnard may easily be in the form of a preparation service. Tax professionals understand the complexities behind filing taxes, have more flexible schedules and offer proficiency when it comes to the tax process.

Services for More Than Just Tax in Oxnard

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To reduce your taxes, you need a tax preparer in Oxnard and Ventura County. Bookkeeping and tax firms prepare accurate returns and ensure that the clients receive maximum savings. In addition to your taxes, clients receive help with more than just their taxes.

Year Long Assistance 

When you hire a tax preparer during tax season, the specialist can only assist you with what you have already done. With assistance all year long, you can maximize your deductions as you go. Tax specialists will counsel you on the best practices for tax in Oxnard.

Bookkeeping Services 

If you own a business, you know how important accurate bookkeeping is. Unfortunately, you don’t always have a lot of time to dedicate to good bookkeeping practices. Administrative tasks can get in the way of perfecting your services or marketing your products. An Oxnard tax and bookkeeping services may take care of many of your bookkeeping services.

Here are some of the bookkeeping services that Excella Tax offers.

Cash Services 

  • Reconcile bank statements
  • Verify credit card deposits
  • Verify daily deposits
  • Process daily sales

Accounts Receivable 

  • Apply cash received to customer accounts
  • Maintain subsidiary receivable ledger
  • Account for revenue
  • Mail billings

General Ledger 

  • Input receivable transactions
  • Prepare financial statements
  • Prepare monthly and year-end closing
  • Prepare adjusting journal entries

Accounts Payable 

  • File 1099 forms
  • Request W-9 information
  • Maintain vendor files
  • Prepare vendor checks
  • Reconcile vendor statements

Payroll 

  • Prepare employee earnings and department payroll
  • Complete year-end W-2 forms
  • Respond to any payroll inquirers
  • Prepare, file and pay payroll taxes

These are some of the most common services requested of an Oxnard tax and bookkeeping services.

If you want help with your taxes, it makes sense to hire a professional. In addition, professionals are able to help with more than just your taxes. Instead, you can receive valuable bookkeeping and tax help throughout the year. Simply look for help with tax in Oxnard.

Tax Return: The Filing Guide

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Tax season is coming. Are you ready to file your tax return in Oxnard? Some people choose to file their own taxes. This is the time-consuming option. If you decide to do it yourself, prepare for long hours of work. When you choose a tax preparer, you can simplify the process.

How Long Does it Take to Complete Your Taxes? 

On your own, the IRS estimates that you will need to spare 16 hours on taxes. This includes record keeping, tax planning and completion of the form.

Tax preparation takes a lot of time. While you still have a responsibility to supply your preparer with the proper documents, the preparer lessens the burden. The tax experts will discuss a variety of tax strategies with you in hopes to save you thousands of dollars. The tax preparer can help the following:

  • Businesses
  • Partnerships
  • Individuals

Most people have a busy schedule. You don’t have to sacrifice sleep for tax filing in Oxnard.

What Are the Consequences for Errors? 

If you make a mistake on your taxes, you may have serious consequences. No one wants to suffer through an audit. If you underreport your income or erroneously claim deductions, there are legal ramifications. Someone who is a professional in tax prepare in Oxnard will check for errors.

How Much Do You Need to Learn? 

Before you file your tax return in Oxnard, you need to understand the basics of tax code. Since 2001, Congress has made 5,000 changes to the code. The code is almost four million words! Now, you don’t have to memorize it to file your own taxes. There are forms, resources and publications to help you figure out the various credits and deductions. Still, it is a lot to understand.

Tax experts in Ventura specializes in tax preparation. This means that they can walk you through much of the process and make your tax filing stress-free.

Income Tax Filing: Is a Preparer Worth it?

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When income tax filing season comes around, most people dread it. Tax returns are difficult to fill out. This is where a tax preparer comes in. The question to ask, however, is whether a tax preparer is worth it. Here are some circumstances where you might need a tax specialist.

Itemized Deductions 

If claiming itemized deductions is right for your specific situation, you can deduct these expenses on your tax forms.

  • Mortgage interest
  • Investment interest expense
  • Medical expenses
  • Property, state and income taxes
  • Investment interest expense
  • Miscellaneous deductions

As you can guess, deductions can get complicated. What counts as a deduction? What doesn’t count as a deduction? This is particularly confusing when you get into miscellaneous deductions. These expenses may be unreimbursed business expenses, educational expenses tax preparation fees, a home business and more. Often, when it comes to deductions, this is where people wish they had a preparer to help with tax return filing.

Freelance or Consultants 

You have to pay self-employment taxes. If you are a contractor, rather than an employee, then odds are you don’t take taxes out of your paycheck. This doesn’t mean that you have to pay. Instead, it means that you have to pay the self-employment taxes when it comes time for income tax filing.

Filing taxes when you’re self-employed can be complicated. It’s best to have a preparer to help you.

Financial Support

Do you support someone with your income? If you supply someone with financial support then odds are that person will count as a dependent on your taxes. The only time that this might not work is if you have a friend or relative who isn’t your direct descendent. To find out who counts as a dependent, tax specialists can help.

No one enjoys tax return filing season. This time of year is stressful but with the right knowledge and the right help from a tax preparer, it’s not so hard.

Top Three Reasons to Choose Excella Tax

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To use a tax professional to prepare your taxes is to save money on your taxes. Tax preparation services like Excella Tax utilize a variety of strategies to save you upwards of thousands of dollars. Specialists can prepare an accurate return that guarantees all possible credits and deductions end up taken out.

As tax time rolls around, there are three solid reasons to choose Excella Tax for your tax filing need.

Fewer Errors

The IRS has a list of common tax errors. These errors are as follows:

  • Computation errors
  • Simple math errors
  • Entering information on wrong line

Professional tax specialists are less likely to make simple mistakes on a return. Not only is a professional more accustomed to filing one, but also a professional will recheck when he or she is through with the form. Everything should be correct at filing.

Less Burden

Tax returns are complicated. To navigate through a tax return is time consuming and stressful. If you run a small business, you will have itemized deductions and will need to file several forms. Consider all of the work that you have to do as one person. A tax professional eases the burden for you. 

Minimal Risk

Signing your tax return means that you guarantee that the information is accurate based on your best knowledge. If it turns out that there were errors then you might have to deal with legal consequences. When you have a tax preparer, you have a safeguard against liability.

The reasons to choose Excella Tax for your tax filing need are simple. Taxes are not only complicated but it is important for you to make sure that your taxes are filled out and filed properly. When you hire a service to do it for you, you minimize your risk, lessen your burden and have fewer errors overall. This is why it’s crucial to use a tax service.