Tax Preparation and Planning Services
Tax Preparation and Planning Services for Houston Businesses and Residents
While many people understand that modern tax law is complicated, what many don’t know is just how much they may be leaving on the table in the form of deductions and credits.
Howard CPA, LLC is Houston’s tax accounting expert, and we’ve worked with a variety of SMBs, nonprofits, and Houston-area residents. Our mission is to reduce the tax impact on your organization, using tax mitigation strategies that we develop collaboratively with our clients.
Whether your business needs to develop its own tax mitigation strategy or just prepare a few tax forms, Howard CPA, LLC has the expertise needed to leverage tax law on your behalf.
Our Tax Preparation Services are Tailored for Houston Businesses and Individuals
Howard CPA, LLC provides tax preparation services for individuals, businesses and nonprofits. We regularly work with every kind of company, including:
- Sole proprietorships
- Limited partnerships
- Limited liability partnerships
- Limited liability corporations
No matter how your business is organized at the top, Howard CPA has experience working with similar organizations. We can also help individuals prepare their personal taxes and help nonprofits track down and fill out nonprofit tax forms like Form 990.
What Can Houston Businesses Expect From Our Tax Preparation Services?
Tax preparation services aren’t quite as extensive as tax planning services, but they’re still valuable for any individual or business with a complicated tax situation. Some examples would pertain to those that:
- Possess significant assets or own a business
- Have a lot of investments in your portfolio
- Make regular, major charitable contributions
- Made a big change to your life in the last year (marriage, had a child, etc.)
- Need to itemize your deductions
- Just don’t have the time, patience, or detail-oriented mindset for proper tax prep
If the above list pertains to you or your business, then professional tax preparation services through Howard CPA, LLC will ensure all of the proper forms are prepared accurately and reported to the IRS on time. We can also maximize your itemized deductions to help mitigate your tax burden.
Tax preparation through a reputable certified public accountant can save a great deal of time. According to the National Small Business Association, nearly a third of SMB owners said that it takes at least 80 hours to prepare and file their taxes. That’s a lot of time that could be better spent elsewhere, and we give that time back to our clients.
We’re Specialized in Houston Estate and Trust Tax Preparation As Well
Estates and trusts follow their own tax rules, and few CPAs are experienced in them. Howard CPA, LLC is an exception, and we regularly help Houston estate owners and trustees handle their taxes. Specifically, our team can prepare fiduciary income tax returns through Form 1041, which details the income, losses, and deductions associated with the estate or trust.
We’re able to offer specialized services to Houston trustees and estate owners because we’re partnered with a number of estate planning attorneys and trust officers. With this expert guidance on hand, we can make the most of existing tax laws while observing all regulatory language.
Howard CPA, LLC also includes gift tax preparation with its estate and trust tax preparation services.
We Can Also Help Houston Companies and Individuals With Tax Planning
Tax planning goes much further than tax preparation. With professional tax planning services, we will discuss your current financial situation and future financial goals. Once that is defined, we’ll work together to determine how to minimize your tax burden and ensure those goals are funded. In short, we create a tax-saving strategy that’s tailored to you.
Tax law is overly complicated, but that means there are opportunities for people who have an expert on their side. For example, tax planning strategies may incorporate the following:
- Smart use of itemized deductions
- Research into what deductions and credits you qualify for
- Use of investment accounts, like 401(k)s, IRAs and 529s
- Use of special spending accounts, like employer or dependent care flexible spending accounts, or health savings accounts
There are too many tax-saving tricks to count, which is why many people and organizations look to a tax planning expert for assistance. For instance, if you own a home, deducting your mortgage interest and property taxes could save you quite a bit more than filing a standard deduction and moving on. Or, if you’re expecting a child soon and family wants to help out with expenses, you could have them pay the hospital directly instead of gifting you – this will save them a lot on taxes. These are the kind of ideas that a tax planner could consider for your customized tax-saving strategy.
Tax planning is highly recommended if your tax situation is complex, which is usually the case if you own a business or have significant assets.
Need Guidance With Education Funding in Houston? We Have a Tax Plan For That
The cost of education is rising rapidly and has historically risen at about twice the rate of inflation. Funding your child’s or grandchild’s education has never been more of a challenge, but we can help secure their educational future with special, tax-friendly investment options.
For example, consider investing in a 529 plan to fund your child’s education. There are generous funding and withdrawal rules when it comes to 529s, to the point where you can avoid most taxes while setting aside money for college.
There are other options, too, and our team is experienced in their structure and use. Traditional and Roth IRAs, Coverdell ESAs and various custodial accounts are a few examples.
Howard CPA, LLC is Houston’s Trusted Tax Planning and Preparation Expert
Our team has helped many Houston businesses and individuals minimize their tax burden through tax preparation and planning services. We may be able to save you money with a proper tax planning strategy in place, and we can offer services that many other CPAs cannot. Whether you’re looking to trim your tax bill, account for your future tax burden, or need insight into tax-advantaged investment options, Howard CPA, LLC can provide a perfect solution.