With our combined tax and business and experience we can simplify your everyday financial needs to allow you to focus on your business. We have attorneys onsite with accounting and business experience to further enhance your success. Our philosophy is to partner with our clients to allow them to concentrate on achieving great growth and success.
At McDonnell Richardson CPA, PC we have a staff on board staying up-to-date with the latest tax laws and how they can benefit you. Tax laws continue to change and keeping up with them is a full-time job that will take you away from your business. A tax return is much more than just a document submitted to the IRS. Your tax return is used in so many other areas that it is wise to make sure there are not any unwanted assets or income.
We take the time to know you and use the tax rules to benefit your tax return. There are hundreds of possible deductions and credits out there, and they all have their own rules about who’s allowed to take them. Tax rules can be complicated but knowing how to use them for your benefit can change how much you end up paying (or getting back).
At McDonnell Richardson CPA, PC, we stay up with how and when to protest. The appraiser’s proposed value is based off a mass appraisal and does not have the manpower or time available to appraise each property accurately. Assessed values are sensitive to economy growth and decline. When the economy grows, your local appraisal district increases values but when the economy declines it is reluctant to reduce your valuation.
We can help you get your books organized for the tax return(s) preparation. To lessen the burden on you, all we need is your receipts, bank and credit card statements and we will get your books ready and prepare your tax returns. There are expense categories unique to your small business, and we will make sure they are included.
We can help you keep your sales tax obligations in order. After we meet and discuss your business and it is determined you should charge sales tax the first step is we will make sure your books are set up properly and file for a business Sales Tax Permit. After determining the frequency of your payments and the best way to keep up with the tax collections, we will set up the online payments to keep your business compliant.
We strive to deliver unparalleled customer service with a personal touch. As experienced financial professionals, we specialize in creating estate plans for individuals and business owners to safeguard their wealth. We firmly believe that the most important step in designing an appropriate estate plan is listening to our client. We take the time to learn all we can before determining if you need an Estate Plan or if a Will suffice.
At McDonnell Richardson CPA, PC, we understand the audit process and are on your side. Keeping tax returns and the documents you used to complete them is critical if you’re ever audited. Typically, the IRS has three years to decide whether to audit your return, so keep your records for at least that long. There are circumstances that allow the IRS a longer time limit on auditing you and we recommend you keep records for seven years.