At ABP, we educate our clients on your business bookkeeping. Many self-employed people do not understand how imperative business bookkeeping is and how it impacts personal tax returns in terms of saving money. We ensure that you have the proper business return results to ultimately save you on your personal return in the long run.
Your business bookkeeping has to be in complete alignment to ensure optimized saving results on your personal return.
Taxation can be a genuine struggle for anyone. Whether you are managing your own personal taxes or the taxes of your business entity, we understand the challenges and nuances of the process. At ABP, we’re experts in managing taxes of all varieties. We help you to get and stay ahead, avoiding unnecessary fees in the process. In order to win the game, you have to know the rules. At ABP, we don’t just know the rules: we know how to win!
As business owners, or those who are self-employed, there are crucial deductions within your business that you are allowed to take to ensure that you are not paying more taxes than needed. At ABP, we make sure that you are utilizing every pertinent, applicable, business deduction to maximize long-term savings.
Our client tax deduction strategy all starts with bookkeeping. Depreciation on one’s vehicle, mileage on that vehicle, and home office expenses are just the beginning. We know the rules, and knowing the rules saves you money at the end of the year.
As your tax accountant we also take the stress out of you filing your taxes. This annual process is stressful for most people, but it doesn’t have to be! With our team, you can rest assured that there will be no money left on the table.
Businesses can be taxed for all manner of income, depending on exactly what kind of business you own and the services that you provide. At ABP, we’re well versed in understanding what your needs are, as we have experts in federal, state, and local tax laws. We work to properly report all income and spending, covering all of your bases. Our team of highly trained experts ensures that you receive the most accurate tax return. ABP takes care of all of this, so that you can run the business that you love without having to worry. We sweat the details, so that you don’t have to.
We know that choosing an expert is the right way to go when it comes to accounting needs. Your business bookkeeping affects your business tax returns, which also has a direct impact on your personal tax return.
When someone is self-employed, you have one big bucket of income and it flows through to your personal tax returns. If your business bookkeeping isn’t prepared properly and doesn’t include all allowable expense items, then this can have a negative impact on your personal tax returns. At ABP, we implement a strategy that covers it all, allowing you to take advantage of your benefits at optimal levels.
If you are not claiming all allowable deductions (like personal vehicle mileage and home office expenses), then you are paying more than needed. Our bookkeeping experts make sure that you are claiming all legal deductions, saving you money, while making sure that you are not taking deductions that you are not entitled to.
The information reported on tax returns must be backed up by source documents. Receipts, invoices, or canceled checks are all applicable source documentation. These records need to be kept organized and ready for an inspection by the IRS at any given time. If the IRS examines your tax returns, you may be asked to explain the items reported—and that’s where ABP comes in to save time and stress for you!