Tax Services Our Cincinnati CPAs Provide During the Summer Months

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Handling personal finances and taxes can be stressful. It often doesn’t feel worth it if the end of the process reveals you owed more than you originally anticipated. Our Cincinnati CPAs at LongSchaefer specialize in assisting with your needs for planning and preparation before and after your yearly tax filing. In today’s article, we’ll discuss the different services offered through summer time, after you file your taxes. 

Related Post: 4 Circumstances When You Want to Delay Filing Your Income Taxes

We Handle 

Tax Problems

Forgetting to file taxes, or choosing to file after the deadline, can become a messy situation. According to SmartAsset, the penalty for filing late is 10 times higher than the penalty for filing, and then paying late. The fee charged for filing late is 5% of the amount owed per each month that passes until your return is filed. If you find yourself or business in this situation, our Cincinnati CPAs can assist by helping you file your return as soon as possible. Then we’ll continue to assist by helping you plan and prepare for the next tax season.

Tax Planning

Our CPAs pride themselves on staying up-to-date on all tax laws and regulations that apply to you and your business. When they prepare for tax planning, we assist in setting up saving strategies that will maximize your after-tax income. 

Our team also take advantage of services that ultimately help you financially such as:

  • Tax Provisions
  • Meeting deductibles 
  • Tax Credits that legally and successfully reduce your tax liability

By successfully completing tax planning with our team of Cincinnati CPAs, you’ll be set for the next step in your tax process: tax preparation.

Tax Preparation

After finishing your tax planning process, our CPAs will begin tax preparation for you and your business. Tax preparation largely consists of compiling all of the necessary documents for filing taxes, and then we help you complete the tax filing process. Tax planning and tax preparation allows our team of CPAs to successfully file your taxes and know that all legalities have been accounted for. 

Business and Personal Tax

We cover an array of services for both individuals and businesses, including payroll services, bank financing, part-time CFO services, small business accounting, and business planning. Once your tax return has been filed and you’ve had sufficient rest, we can begin the process of assessing your business and assets. If there is a service we can perform for you, we’ll gladly do everything we can to make sure your business adheres to all laws and regulations from a tax standpoint.

Related Post: What To Do When Your Taxes Are Late? 

LongSchaefer on Summer Services

The tax season never really ends for our Cincinnati CPAs here at LongSchaefer. We believe in doing everything possible to protect you, your business, and your financial dreams. If you think our Cincinnati CPAs can assist with any of your tax planning, preparation, or business planning needs, we’d love to hear from you. Contact us today to discuss how we can help and become your trusted business advisor.

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May 2020 COVID-19 Update

In order to comply with the Ohio Health Department Order & CDC social distancing recommendations, our offices are closed until further notice. Rest assured that our established protocols and available technology will allow us to provide the same level of service and quality you expect from LongSchaefer during this time.

The SBA has announced details of how it’s helping small businesses through the Coronavirus outbreak. The IRS is sending payments to families affected by this crisis. 

Please click on our Coronavirus information pages for more information.