Our tax services exceed basic tax preparation. While tax compliance is vital, we are constantly working with our clients - business owners, high net worth individuals and fiduciaries - to develop and implement personalized tax strategies. As your trusted advisor, we can help you:
Corporate Accounting and Financial Services
Whether a corporate start-up, an entrepreneur, or mature business, sound financial management is a keystone of your corporate health and growth. The first step to take when starting a business is to seek sound financial guidance. Felsing LLC will assist clients to improve processes, efficiency and accuracy. We are skilled in assessing your start-up situation, managing day-to-day accounting, and helping you focus on the future you have envisioned.
S Corp Tax Return
An S-Corporation files a Form 1120S tax return for income and losses that will be passed through to its shareholders. An S election must be made to treat a corporation as an S-Corp. Generally, S-Corps do not pay taxes, instead the shareholders are taxed on their portion of the income and losses of the business.
Partnership Tax Returns
A Partnership files a Form 1065 tax return for income and losses that will be passed through to it’s partners. Note a partnership must have at least two partners to exist. Generally, partnerships do not pay taxes, instead the partners are taxed on their portion of the income and losses of the business.
Individual Tax Returns
An individual, including married individuals, file a Form 1040 tax return which is submitted to a federal, state or local taxing agency to report income, calculate and pay taxes. The Felsing LLC professional team is experienced in the preparation of Individual Tax Returns.
Gift Tax Returns
Individuals who make gifts, in excess of the annual gift exclusion, must complete Form 709, U.S. Gift Tax Return. IRS sets the annual exclusion each year. The Felsing LLC professional team is experienced in the preparation of Gift Tax Returns.
Foundation Tax Returns
All private foundations, whether they have taxable income for, or activity during the year or not (including non-exempt private foundations, and nonexempt charitable trusts described in section 4947(a)(1) of the Code that are treated as private foundations), are required to file an annual return on Form 990-PF, Return of Private Foundation. Felsing LLC’s professional team is experienced in the preparation of Foundation Tax Returns.
Tax Projection and Planning
Effective tax planning, whether for personal, business or trusts, can be instrumental in reducing or eliminating taxes, planning for cash flow and taking advantage of any new tax legislation. Felsing LLC can prepare projections using multiple scenarios over a range of years.
If you have a tax problem, a notice from the IRS, or are under audit, you may feel overwhelmed at the prospect of pleading your case before the IRS. The Felsing LLC tax professionals will take your place and represent you in front of the IRS.