praxis ba

Tax Preparation and Planning

Employment Tax Returns: Preparing payroll tax returns, including federal and state withholding taxes, unemployment taxes, and other payroll-related filings.

Tax Filing

Business Tax Returns: Preparing and submitting federal, state, and local tax returns for various business structures, including sole proprietorships, partnerships, LLCs, and corporations.

Sales Tax Returns: Calculating and filing sales tax returns on behalf of clients to ensure compliance with state regulations.

Employment Tax Returns: Preparing payroll tax returns, including federal and state withholding taxes, unemployment taxes, and other payroll-related filings.

 

Tax Strategy

Tax Planning: Developing strategies to minimize tax liabilities through effective planning and forecasting.

Deductions and Credits Identification: Identifying eligible deductions and tax credits to maximize tax savings, including research and development credits, energy efficiency credits, and more.

Entity Structure Advice: Providing guidance on the most tax-efficient business entity structure based on client needs and goals.

Tax Compliance

Regulatory Updates: Keeping clients informed about changes in tax laws and regulations that may affect their business.

Compliance Audits: Conducting internal audits to ensure that tax filings are accurate and compliant with applicable laws.

Retirement Planning

Retirement Plan Setup: Assisting businesses in establishing tax-advantaged retirement plans, such as 401(k)s or IRAs, to benefit both the business and its employees.

Retirement Contribution Strategies: Advising on optimal contribution levels to retirement plans to maximize tax benefits.

Estate and Gift Tax Planning

Estate Planning Advice: Providing guidance on estate planning strategies to minimize estate taxes and ensure smooth transfer of assets.

Gift Tax Compliance: Assisting clients in understanding and complying with gift tax regulations to avoid penalties.

International Tax Services

Cross-Border Tax Planning: Advising businesses engaged in international operations on tax implications, including treaties and compliance with foreign tax laws.

Foreign Income Reporting: Assisting clients in reporting foreign income and understanding their tax obligations in different jurisdictions.