Tax Preparation

Tax Preparation

Preparing your own income tax return can be a task that leaves you with more questions than answers. According to a study released by the US Government’s General Accounting Office last year, most taxpayers (77% of 71 million taxpayers) believe they benefited from using a professional tax preparer.

Whether we like it or not, today’s tax laws are so complicated that filing a relatively simple return can be confusing. It is just too easy to overlook deductions and credits to which you are entitled. Even if you use a computer software program there’s no substitute for the assistance of an experienced tax professional.

We are experienced in federal and state tax returns for individuals, C-corporations, S-Corporations, LLCs, partnerships, limited partnerships, trusts and non-profit organizations.

Here’s what you get…

  • Your tax return will be prepared by our staff and reviewed by a CPA.
  • Your tax return will be checked and rechecked by our computer software identifying potential problems the IRS may look at more closely and reviewing the math to limit IRS contacts.
  • Your tax return can be filed electronically so you will get a refund back quicker.
  • Our staff can advise you how to adjust your payroll withholding to get more money back each week. Why give the IRS an interest free loan for up to 16 months.
  • We will identify potential deductions and other strategies to limit your tax liability for next year. 

If you’d like to receive more information about our Tax Preparation Service, please complete this form.

    Tax Preparation

    OUR SERVICE

    At Coburn, Chessher & Walker CPAs PC, we work side-by-side with our clients and tailor our services to fit their specific needs. We combine personal attention and access with the highest levels of technical expertise and specialized knowledge. Timely communication and responsiveness are hallmarks of our client relationships. All of these attributes support our objective of helping you reach your financial goals.

    We pursue excellence by staying on top of current developments and technologies. We stay abreast of industry issues and observe the marketplace so we can analyze provide service and advice tailored to your specific needs and goals. We use our experience and resources to develop industry insights and specialized skills that allow us to bring maximum value to your projects. Together all of these factors allow us deliver superior service and act as a trusted business adviser.

    A detailed listing of the services we provide is set out below. Take a look at what we have to offer and how we can help you or your business.

    Tax Services

    At Coburn, Chessher & Walker CPAs PC, we assist our tax clients through efficient compliance and effective planning to help them realize substantial savings. We use a team approach and focus on timely communication to provide our clients with excellent service. Tax partner and specialist involvement ensure that our clients receive the most experienced technical expertise we have to offer. We offer the following tax services:

    Federal, State and International Business Tax Services

    Tax Return Compliance

    Preparation of federal, state and international tax returns is the core of our tax services. High-levels of technical and industry specific expertise allow our tax professionals to ensure our clients’ tax returns are prepared efficiently and timely.

    Transactional Structuring

    We help businesses structure economic transactions in ways that minimize the tax impact by advising them on acquisitions, sales and mergers.

    Accounting Method Reviews

    We review businesses’ tax accounting methodologies for proper accounting and accounting method strategies to maximize income tax benefits.

    Transfer Pricing Studies

    Our transfer pricing specialists can provide your business with consultations and studies to assist you with determining appropriate “arms’-length” pricing among related companies.

    Research Credit Calculations

    We can help your business determine if it is eligible to claim certain federal and state research credits, assist with the documentation requirements and quantify the amount of the tax credit.

    Real Estate Cost Segregation Studies

    At Coburn, Chessher & Walker CPAs PC, we have proven cost segregation strategies that can be used to accelerate real estate tax depreciation deductions for businesses. This results in a deferral of taxes which in turn increases cash flow.

    Cost segregation works by separating the costs of property from the building, land acquisition or construction costs. This benefits your business because the property has a shorter useful life for depreciation purposes when it stands on its own than when it is combined with the longer lived building or land.

    There are certain limitations surrounding cost segregation. It can only be performed on buildings constructed, acquired, enhanced or expanded in 1986 or later. Additionally, certain industries tend to have buildings with the most potential for tax deferral and improved cash flows. These industries include but are not necessarily limited to the following:

    • Auto dealerships
    • Hospitals and medical facilities
    • Industrial facilities
    • Manufacturing facilities
    • Office buildings
    • Retail stores and shopping centers
    • Apartment or condominium complexes
    • Supermarkets and restaurants

    Audit & Appeal Representation

    We possess the expertise and experience to represent taxpayers before tax authorities. Our tax professionals understand the dispute resolution and appeals process and work diligently to obtain you the most favorable results.

    International Tax Assistance

    Business is becoming increasingly international. More companies than ever deal with foreign tax issues at some level and this will only increase with continued globalization. At Coburn, Chessher & Walker CPAs PC, we can help you navigate the complexities of a variety of international tax planning issues including the following:

    • Choosing the most advantageous type of entity and corporate structure
    • Subpart F income determinations
    • Foreign tax credit utilization
    • Using IC-DISC for tax reduction
    • Transfer pricing
    • Foreign earnings repatriation
    • Foreign withholding and reporting obligations
    • Treaty interpretation

    State and Local Tax Specific Services

    Nexus Consulting and State Tax Liability Analysis

    We can help you to understand and navigate where your business is required to file and pay state and local taxes based on multistate activities. Additionally, we will make recommendations of where to file and quantify potential tax liabilities associated with various state and local jurisdictions.

    Sales and Use Tax Determination

    We can assist you understand the sales and use tax consequences of specific transactions and ensure you meet any filing requirement.

    Tax Planning Services

    Federal Income Tax Planning

    We aid businesses with all aspects of federal income tax planning. This includes implementing federal income tax strategies that maximize savings, increase profits and manage cash flows.

    State and Local Tax Planning

    Our team understands the structural and transactional underpinnings of state and local regulations in ways that allow us to create solutions that mitigate tax liabilities. We provide state and local tax planning in the following areas:

    • Income tax
    • Franchise tax
    • Sales and use tax
    • Property tax
    • Other miscellaneous taxes

    Business Succession Tax Planning

    You spent your life building your business and now you want to pass it on to the next generation or sell the value you built. We advise businesses on the proper succession planning to preserve your family and business legacy while also looking out for potential tax consequences that may result.

    Other Tax Services

    Accounting for Income Taxes

    Financial accounting for income taxes can be complex. Our professionals have the technical skills and experience to help our clients navigate through these complex requirements and create efficient income tax accounting and reporting. We also help companies stay up-to-date with regulatory guidance and disclosure requirements. The services we offer allow our clients to minimize year-end surprises and reduce risk related to reporting. These services include:

    • Calculation of tax provisions
    • Account for uncertain tax positions
    • Analyze current and deferred taxes
    • Prepare financial statement footnote disclosures

    Tax Updates

    We keep our clients up-to-date on the latest federal, state and international tax issues through webinars, newsletters, website postings and face-face to meetings. By staying ahead of tax issues, and we can communicate how they will impact your operations quickly and address them in a timely manner.

    Individual Tax Services

    When it comes to individual taxes, change provides opportunity. We keep on top of these changes to provide you with the best advice and strategies, especially through planning opportunities. You can depend on us for objective guidance and personal attention. We believe in focusing on your long-term financial goals and steering your current needs in a direction to meet them.

    Estate and Trust Tax Services

    If you have not considered what will happen to your hard earned assets as you age and eventually pass on, you should. Without an estate plan, the wealth you worked your entire life to build will be distributed according to state law and not according to your wishes. Estate planning is crucial if you want to minimize taxes and distribute as much as possible to your preferred beneficiaries.

    We will work with you to design an estate plan customized to your particular needs by utilizing a variety of planning vehicles such as family limited partnerships, trusts and charitable entities. Our team can assist you by performing the following:

    • Review wills and trust instruments.
    • Estimate estate taxes and strategize alternatives that may provide tax savings.
    • Review business issues including valuation and the transfer and/or disposition of business interests.
    • Identify potential liquidity problems caused by federal and state estate taxes for the continued operation of the family business, probate, administration costs, etc.
    • Develop a lifetime gifting program using vehicles such as family limited partnerships, charitable trusts and qualified personal residence trusts
    • Prepare estate, gift, fiduciary and non-profit tax returns
    • Advise you on the possible use of various trusts structures; including charitable remainder trusts, grantor annuity trusts, personal residence trusts, family partnerships, credit shelter trusts, marital deduction trusts and revocable lifetime trusts.

    Looking for a little information right now? View the latest Tax and Financial News article in our Newsletter.