Helping You Take Control of Your Taxes
Everyone has to deal with taxes, but each year, they become more complex and harder to handle on your own. A tax expert can help you make sense of complicated tax laws and ensure that you get what you are owed.
The experienced team at Herbert Kraus, CPA helps individuals, families, and businesses make the most of tax season. We not only help you file, but help you plan and save year-round, and we stand behind you if you face any tax problems.
Why give the government more than what you owe? Let us help you keep more of your money in hand. Schedule a complimentary consultation today!
How Does a Tax Professional Help Me?
Tax filing is much more involved than filling out forms. Determining filing status, making sense of reforms, and figuring out which deductions apply takes time and an in-depth understanding. If you aren’t a professional, tax filing can be long, stressful, and costly.
Our team offers knowledge, experience, and a fresh perspective. You can count on us to:
Should I Get Tax Help For My Personal Taxes?
A single change in your life situations could have dramatic effects on your taxes. If you’re single, have one job, no dependents, and no investment or property, you may be able to handle tax filing on your own. For most of us, life is far more complex, and so are your taxes.
If any of these apply to you, it’s well worth your time to consider getting tax help:
Should I Get Tax Help for My Business Taxes?
Business taxes are even more complex than personal ones. They also need to be completed and filed much more frequently, essentially making them a full-time aspect of your business.
If your taxes are left to someone without tax experience, or whose job is divided between multiple responsibilities, it could result in errors, late filing, and even possible audits. An outsourced tax professional can focus exclusively on your business taxes and provide tax strategies to help you hold onto more of your profit now and in the future.
What are the Benefits of Professional Tax Planning?
There are numerous advantages to having a tax expert on your side. When you partner with us, you can enjoy:
More money – We help you find deductions, exemptions, and other options to legally lower your tax liability.
More free time – Let us get your taxes in order while you use the time to do the things you love.
More peace of mind – We carefully search out errors to ensure your taxes are filed correctly and on time.
More understanding – We help you understand how and why the tax laws affect you and answer any questions you may have.
What Kind of Taxes Do You Help With?
We work with individuals, businesses, and non-profits, and are experienced at filing taxes for each. You can rely on us to handle:
We also have specialized experience working with internet personalities, including Twitch streamers and YouTubers. Take a look at our Tax Preparation page for more information!
When Should I Start Preparing my Taxes?
Anyone who’s left their taxes to the last minute knows how stressful that can be. It’s up to you how early you want to start, as long as you file before the deadline. (If you are entitled to a refund, the sooner you file, the sooner you can get it!)
Whatever you decide, the smart approach is to prepare for tax filing throughout the year. Organizing your financial data, receipts, and past tax returns will help make it easier to find what you need when filing. We can work with you to identify deductible items and purchases that can help you save more when filing. Other relevant info includes charitable donations, retirement account contributions, investment gains and losses, etc.
What if I'm Late Filing?
A lot of time and information is needed to file your taxes. If you get a late start to filing, or you don’t think you’ll be able to file in time, we can help you file an extension. You’ll still need to pay the IRS the approximate amount you think you owe, but you won’t have to stress about getting your paperwork in order.
How Long Do I Have to Wait for My Refund?
Even after your refund has been accepted, it can still be days or weeks before your refund arrives. If you need swift access to those funds, you may be eligible for an Easy Advance Refund. We provide a no-cost advance on your expected refund, allowing you to make use of the money without worrying about the IRS dragging its heels.
Find out more about this service on our Easy Advanced Refund page.
Is Tax Planning Worth It?
We plan many aspects of our life, from buying a car to throwing a party or taking a vacation. However, most people don’t consider planning for their taxes.
Tax planning is about using custom strategies throughout the year to help you save more on your tax returns. Whether you’re dealing with business or personal taxes, tax planning with the help of an expert can ensure that you hold onto more of your hard-earned cash.
What Does Tax Planning Do?
When you come to us for tax planning, we take the time getting to know you and understanding your financial situation, assets, and goals. We then put together a customized plan using various strategies to help you save more money on your taxes.
Common strategies include using retirement savings and other investments to move you into a lower tax bracket, or carefully timing large purchases (such as property) to gain tax advantages. With these strategies, you can make smarter decisions throughout the year to legally lower your tax liability next time you file.
Our experienced staff stay up-to-date on all tax reforms and help you understand how they’ll affect you and your finances. We provide year-round assistance, and can happily help you navigate significant life changes so that you won’t get blindsided by unexpected consequences.
What Do I Do if I’ve Been Audited?
If you or your business have been audited, the most important thing to do is to keep calm. An audit doesn’t necessarily mean that you’ll have to pay, and having an expert on your side helps to ensure that you’ll be treated fairly.
Our team provides audit representation for those facing IRS audits. We help you organize your financial data, and can act as a go-between for dealing with the IRS. We’ll answer any questions you have and do all we can to help you feel relaxed and informed throughout the process.
What If I Owe Back Taxes?
The IRS can collect on back taxes owed for up to ten years. If you have taxes you haven’t paid, the late fees can quickly add up to an insurmountable sum.
We can work with you to help you develop a strategy to pay what you owe. We also act as your representative to the IRS.
What If I Can’t Pay What I Owe?
Financial difficulties can happen to anyone. It’s not uncommon for unexpected things to happen, leaving you unable to pay the IRS what you owe – especially if you’re more than one year behind.
If you owe the IRS more than you can pay, we can help advocate for you. We can negotiate with the IRS to help lessen your financial burden, and in rare cases, possibly dismiss it altogether. Some of the common methods include:
Offer in Compromise
When a debt is too high to reasonably be paid off, we can file for an Offer in Compromise. We work with you to determine what you can pay on the debt and make an offer to the IRS. Once they accept a figure, the rest of your debt is cleared.
If your debt can’t be paid all at once, we can work with the IRS to determine a reasonable payment plan. This allows you to pay off the debt gradually without incurring additional fees.
Innocent Spouse Relief
Individuals whose spouses have committed fraud or other illicit financial acts can be cleared of responsibility for their spouse’s actions, as well as their debts. We can work with your attorney to help ensure that you are not held liable for such actions.
Are You Ready for More Money and Less Stress?
Whether you are trying to save money on your taxes or get out from under tax debt, having an experienced tax professional can make a world of difference. Our team at Herbert Kraus, CPA is ready and waiting to help!
Contact our office and schedule your complimentary consultation today. We look forward to working with you!