Tax Services

Whether you’re a small business owner, nonprofit executive, or at the helm of a large firm, we’re here to help you be successful.

In today’s business environment, you need to maintain your profitability while taking advantage of new opportunities. This is especially important in the ever-changing areas of tax law and financial planning. Whether your business is a sole proprietorship, C or S corporation, partnership, or non-profit, we’re here to help you with tax and financial planning, as well with sales tax issues and audit representation.

Tax Planning

Effective tax planning is one of the cornerstones of Bean Counting Firm. Instead of waiting a couple of months before tax time, we prefer to do your tax planning 2-3 times throughout the year. This way, you’ll receive very detailed view of what your tax position looks like, and avoid any surprises at tax time. Our main services in the tax planning area include:

– Withholding from payroll in regard to tax brackets
– Planning for quarterly estimates
– Discussion of tax benefits relating to investment portfolios
– Business entity structure and benefits
– Planning for investment properties
– Equipment purchasing and depreciation questions

We’ll review the financial condition of your business with an eye on helping you benefit from current tax laws, and help you take advantage of losses, credits or write-offs that that will reduce your overall tax liability.

Individual Taxes

Whether you’re a family or a Schedule C/Sole Proprietorship, Bean Counting Firm will help you with all of your individual tax needs.

Schedule C Sole Proprietorships

If you are in business for yourself as a sole proprietor, you will typically file Schedule C in addition to your normal 1040 income tax return. We’ll help you navigate through the special terminology that the IRS uses on this form in order to maximize your deductions.

C/S Corporations

When starting a business or changing your business structure, one of the most common decisions you’ll make is whether to form an S-corporation or C-corporation. Bean Counting Firm will provide you guidance on your options and associated tax implications of each structure.
If you’re a C-corporation, Bean Counting Firm will help you file a tax return (Form 1120) and pay taxes at the corporate level. If you’re an S-corporation, we’ll help you navigate the complicated accounting rules and tax compliance challenges. We will issue K-1′s to each partner in a timely manner.

Partnerships/LLCs

Whether you have an LLC or a Partnership, we’ll handle the paperwork for each individual partner and file a Form 1065 and Schedule K-1′s. We’ll provide you with an accurate reporting of each partner’s investments, draws and basis. We will provide each partner with a proper accounting of assets, profits, and liabilities on an annual basis.

Nonprofits

The Bean Counting Firm staff is very knowledgeable about nonprofit tax implications. How you characterize your plans when filing for incorporation or for tax exemption with the IRS is important. We’ll help you with the reports and filings you will need to submit. If you’re tax-exempt, you are most likely exempt from a variety of other taxes, including state, property and sales taxes.

IRS/State Correspondence

If you need help solving an IRS or state tax problem, Bean Counting Firm is here to assist you. We have extensive experience helping businesses resolve tax issues they might have after filing their federal or state returns. After carefully reviewing your audit letters, we’ll propose the most appropriate course of action, collect the explanatory data, and write replies to the appropriate tax authorities. We will stay in close contact with them until the case is resolved and closed.

Income Tax Audit Representation

If you’ve received an audit notice, don’t panic. Tracie is able to represent you before the Internal Revenue Service, California Franchise Tax Board and the Oregon Department of Revenue and solve any problems that may arise. Tracie has a proven track record of obtaining positive results for our clients.