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Tax Planning and Preparation
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Most of the decisions to reduce taxes cannot be made after the end of the tax year. Tax planning is a year long process. By working with our clients on a monthly basis we are able to reduce their taxes. At EWH our tax planning and preparation consist of the following year around procedures:
- Review of monthly financial statements with tax planning in mind.
- Year around monitoring of tax law changes.
- Year end tax planning with checklists and projections two to three months prior to the end of each client's year end.
- Preparation of an unadjusted year end statement, which is used as a tax planning tool to maximize all legal deductions. We then prepare a second finalized year end statement.
- Personal tax questionnaires are mailed out at the close of the tax year to guide you in assembling all the required information.
- All returns are processed through a state of the art computer system designed to provide a total review. Not only are the calculations rechecked electronically, but the computer initiates a process confirming the accuracy of your return.
- A final review is then done by the professional manually. Rest assured, our professionals strive to produce a tax return that reflects the lowest tax entitled - mathematically correct, technically correct by law and with total confidentiality. Only then do they grant their signature of approval.
All returns are then electronically filed, which ensures:
- Quicker refunds.
- Confirmation by the IRS that it was received.
- An automatic check from the IRS if it is an error-free return.
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