Our Services
Our Services
Small Business Accounting in Williamsburg, VA
When it comes to small business taxes, it is critical to work with a trusted and experienced professional. A qualified small business tax preparer will have the knowledge and expertise needed to ensure that your business is filing its taxes accurately and in accordance with all relevant laws and regulations and paying any outstanding obligations. They will also be able to guide you through any tax-saving strategies or deductions that may be available to your small business entity. Whether you need help with business filing, year-end accounting, or other related services, a professional small business tax preparer can help make the entire process quick and stress-free. So, if you’re looking for reliable business tax help, look no further than the professionals at Griffin and Johnson Tax Prep in Williamsburg, VA. With their help, you can be sure that your business will be in good financial shape year after year.
Tax Services in Williamsburg
Tax preparation can be a daunting task, but there are a number of options available to help make the process easier. Tax software, for example, can help to automate many tasks involved in preparing a return, including calculating taxes owed and completing forms.
However, we know many tax preparers offer services that can help maximize deductions and minimize the amount of taxes owed. For those who are self-employed or have complex financial situations, hiring a professional tax preparer such as Griffin and Johnson Tax Prep may be the best option. Tax preparation professionals can help to ensure that all relevant information is considered and that the return is filed correctly. No matter what method is used, careful planning and attention to detail can help make tax season a little less stressful.
We Can Help You with Incorporation Services
Whether you are starting a new venture or taking over an existing one, there are many benefits to using incorporation services. First, the right business structure must be selected. Depending on your business and personal goals, there are a variety of options for how to structure the company. For instance, if you want tax benefits or protection from liability, then it would make sense to not only separate yourself personally but also protect any assets that could be at risk in case something goes wrong. When you’re just starting out, it’s important to decide on the right form of business—this will determine which entity type should be chosen.
FBAR Filing in Williamsburg, VA
If you have a bank account in another country, its important to report that information with an FBAR filing. The Bank Secrecy Act requires individuals living abroad with foreign financial accounts worth more than $10,000 per year to file the documents on behalf of themselves and their spouses or dependent children under 18 years of age if any exist at the time they file (or will become eligible).
You can do so by submitting FinCEN Form 114 annually
Who Must File According to the Internal Revenue Service (IRS)?
A United States person, including a citizen, resident, corporation, partnership, limited liability company, trust, or estate, must file an FBAR to report if the following is applicable:
A Financial Interest in Or Signature or Authority Over At Least One Financial Account Located Outside The United States of America If The Aggregate Value of Those Foreign Financial Accounts Exceeded $10,000 At Any Time During the Calendar Year Reported.
The Aggregate Value of Those Foreign Financial Accounts Exceeded $10,000 At Any Time During the Calendar Year Reported.
ITIN Services
Most American citizens and permanent residents who work in the country are required to file tax returns if their annual income exceeds a certain threshold. Even if your income is lower than that, you might still want to file because you might be eligible for a refund. People who need a U.S. taxpayer identification number but are unable to obtain a social security number (SSN) from the Social Security Administration are issued ITINs by the IRS (SSA). You might be affected if you:
You had federal income tax withheld from your paycheck
Paid estimated tax obligations
You may be eligible for the Earned Income Tax Credit
You could also be eligible for the Child Tax Credit
