Individual tax preparation

This is the process of gathering and organizing your financial information and completing the forms and documentation necessary to file your income tax return with the government. Individual Tax preparation includes federal, state, or local tax returns.


What does tax preparation mean?

Core CPAs & Advisors is your industry benchmark when it comes to tax preparation. Our tax preparers are a team of tax experts. They file and assist with general tax forms, and they can defend a taxpayer (like you) with the IRS (good news!). The range of what a tax preparer can do depends on their credentials and whether they have representation rights. Let’s put it this way: tax preparers are asked to serve two masters: their clients and the IRS.

Many people choose to prepare their own taxes using tax preparation software or by filling out forms by hand, while others seek the help of a team of tax experts such as Core CPAs & Advisors or tax preparers to ensure accuracy and maximize tax savings. However, we strongly recommend our clients seek help from experts like us, your #YourExpertCPA, as the path that taxes can take is often unpredictable, confusing, and complex. Going hand in hand with someone with vast experience like our careful planners is the best solution you can give a matter of this nature because we listen to our clients’ needs and we make strategies based on them.

Typically, our #YourExpertCPA will ask you for the following requirements (and others) once you have your first meeting together.

  1. Gathering your financial information: This involves collecting all relevant financial documents, including W-2s or 1099s, receipts for deductible expenses, etc.
  2. Filling out tax forms: Individual taxpayers often fill out tax forms specific to their country, such as the IRS Form 1040 in the United States. 
  3. Calculating tax liability: Taxpayers must determine their tax liability by taking into account some factors like their income, deductions, credits, etc. 
  4. Filing the tax return: Once the tax return is prepared, it must be filed with the appropriate tax authority by the filing deadline. It can be done electronically or by mail.
  5. Record keeping: We strongly recommend you keep copies of your tax returns and supporting documents for several years in case of an audit or if you need to refer to previous tax returns!
We invite you to our blog where we have entries that talk more specifically about tax issues and others about the world of accounting that you need to know to navigate smoothly through this type of practice. In our social networks, you can find relevant information such as important dates to remember and tips that can help you in your daily accounting processes.

Links to our blogs about taxes:

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