Our tax preparation services, serving Michigan taxpayers and businesses, can help you on the road to IRS tax debt relief caused by delinquent tax filings of IRS Federal taxes and Michigan state taxes. Call us now at 1-866-668-2953 for immediate tax return help that you can trust. Let our certified IRS Enrolled Agents, Tax Attorneys, and Accountants on staff, get you a fresh start for your current tax filings or for delinquent tax returns.
Our Tax Preparation Services Include:
- Individual Tax Return Preparation, 1040
- Business Tax Return Preparation
- Corporate Tax Return Preparation – S-Corp, C-Corp, Form 1120
- Self-Employed Tax Preparation, 1099
- Michigan State Income Tax Returns
- Tax Consulting
- Back Tax Returns
- Amended Tax Returns
- Failure to File Returns
Both individuals, self-employed individuals, businesses, and corporations are required to file tax returns with the IRS and the State of Michigan. Failure to timely file and pay your returns can have multiple negative consequences, including the IRS coming after you and being unable to get financing. At A&L Tax, we have the skills and experience required to evaluate and prepare both business and personal returns. We specialize in preparing corporate returns, partnership returns, individual returns, and back-tax returns. Whether you need one year or ten years of returns prepared, Austin & Larson can get your income tax returns filed and up-to-date with the IRS and the state of Michigan.
Individual Tax Return Preparation for Michigan Taxpayers
The majority of people have a requirement to file their Michigan individual income tax return. Even if you do not have a requirement to file, it still may be beneficial to you to file your income tax return. Our tax system is complex and ever changing. Even if you believe that your tax return is “simple”, there are still many questions that should be addressed when filing your individual income tax return.
A checklist of some of the frequent questions that Michigan taxpayers have while preparing their individual tax returns include:
- Who can I claim as a dependent on my tax return?
- What to do if someone else claimed your dependent?
- How do you value non-cash charitable donation?
- Can you deduct upgrades to your house?
- Can you claim expenses for your direct sales business?
- What are unreimbursed business/corporate expenses?
All of these questions need to be addressed in order to get you the best possible tax return for the state of Michigan and the largest refund to which you are entitled. Some items, which on their surface do not seem like a big deal, may actually cause large financial tax liabilities in the future.
For instance, most married taxpayers believe that they must file jointly with their spouse. Or they file jointly because it results in a larger refund. However, they do not realize that this makes them jointly liable for any future balance on this tax return. If this return is later audited, both spouses will be liable for any additional tax assessed, even if the taxpayers have subsequently divorced and are no longer together.
At Austin & Larson Tax Resolution, we will review in detail your income tax return information with you, discussing all of your tax options and making sure that you are informed on all items on your returns. We want to make sure that your tax returns are accurately prepared, filed on time by the due date, and filed in a way that is most beneficial to you, now and in the future.
Michigan Business Tax Return Preparation
There are many different types of businesses and even more types of business returns. In order for a business in Michigan to operate smoothly, it must make sure that all required business tax returns are timely prepared and filed. For instance, an S-corporation has an annual corporate return that needs to be filed, along with quarterly and annual payroll returns if there are employees. The business will also need to make payroll deposits to the IRS. They may also have sales tax and payroll returns due to the State of Michigan and returns due to the UIA. Failure to file or make deposits can result in large penalties and interest and may also result in the IRS assessing the balances against the taxpayer on an individual level. With all of these returns and filing requirements, it is essential that a business have the right team and processes in place to make sure that they are meeting the IRS and State of Michigan requirements.
We will check with the IRS to verify that all of your required returns have been filed and/or determine which returns still need to be filed. We can also assist you with putting systems into place to make sure that your business remains in compliance going forward.
Back Tax Return Preparation
If you have not filed for multiple years, we can go back and file all missing returns required by the IRS. In order to establish most types of resolution with the IRS, you must have all returns filed through the current year.
One of the largest questions taxpayers have is how they can prepare their prior year returns without their tax information. Unlike a traditional Accountant firm, we specialize in preparing back tax returns, regardless of the state of your records. If you need back returns prepared, we can assist you with getting them filed and getting back on track with the IRS.
State of Michigan Tax Returns
The State of Michigan also has a complex tax return system. Depending on where you live or where your business is located, you may also be required to file a city return. Businesses have a number of different returns that they may be required to file with the State. Although the State and IRS are similar in how they handle many tax items, there are items that they treat differently.
Choosing the Right Tax Return Preparer
Choosing the correct tax preparation firm is essential to make sure that you are getting an accurate return with the largest refund to which you are entitled. Incorrect or fraudulent tax returns can lead to tax audits, additional tax assessments, or possible criminal charges. If you are going to owe tax balances that you are unable to pay, it is very important that your returns are prepared in a way that supports resolution of your balances.
Our years of tax preparation experience have provided us a lot of insight on common errors when filing Michigan individual and business tax returns. Some of the more common errors include the following:
- Failure to carry over business income/loss from your S Corporation return to your personal return
- Failure to carry over your wages paid from S Corporation to your personal return
- Failure to pay yourself a proper wage under an S Corporation as required by the IRS
- Failure to include all income items on your personal return (W-2’s, 1099’s, etc.)
- Claiming incorrect expense items under your business expenses which are not deductible such as personal expenses or claiming all of your meals and entertainment
- Failure to include all dependents and deductions you are entitled to
- Incorrectly claimed filing status
All of these errors can result in the IRS flagging your tax returns for audit or making adjustments to your returns with additional assessments. For all of these reasons, it is extremely important to choose the correct firm to prepare your tax returns and represent you before the IRS.
State of Michigan, IRS tax filings, or audit matters are complicated and time-consuming. Austin & Larson Tax Resolution understands your tax prep needs and can provide you the best tax services for any situation. We guarantee that you will receive professional tax services with peace of mind the end result . Our ultimate goal is to save you time and money. Call 1-866-668-2953 and leave your tax concerns to us. You will find that our tax return preparation fees are quite reasonable.