Tax Assistance For Self Employed In Ann Arbor, MI

Independent contractors and 1099 earners across Michigan face diverse tax challenges that require specialized attention for both filing requirements and resolving outstanding liabilities with federal and state tax authorities. Some entrepreneurs operate modest side ventures with minimal deductible expenses. They might work as freelance consultants or gig economy workers. Others manage complex operations involving multiple revenue streams, staff members, dedicated workspace deductions, and asset depreciation schedules requiring careful documentation.

Connect with Austin & Larson Tax Resolution, a trusted Michigan-based collective of tax specialists serving Brighton, Jackson, Lansing, and Saginaw communities. Our comprehensive IRS support encompasses return preparation expertise, compliance guidance, examination defense, and negotiation of federal back tax obligations. Our strategic filing services can substantially minimize your liability exposure when tax authorities initiate contact. Through careful analysis of payment arrangements and professional advocacy on your behalf, we deliver dependable assistance that Michigan’s self-employed professionals value and recommend.

Contact our office today at 1-866-668-2953 for expert guidance with self-employment tax matters and 1099 reporting concerns.

Our specialized tax resolution team, comprising IRS Enrolled Agents, licensed Tax Attorneys, CPAs, and experienced Tax Accountants, provides practical and reliable tax relief approaches combined with detailed compliance counseling. We maintain the technical knowledge and real-world experience required to guide you through completing your tax return documentation.

Unlike traditional accounting services, we conduct thorough expense analysis sessions with you to confirm you’re utilizing all legitimate tax deductions and credits within your reach. Our mission is to ensure your IRS federal and Michigan state tax returns are thoroughly accurate and filed strategically to optimize your tax resolution outcomes for both present liabilities and historical back taxes. For Tax Assistance For Self Employed In Ann Arbor, MI and throughout the region, our team brings personalized attention to each client’s unique situation.

Numerous independent contractors and 1099 earners encounter significant challenges meeting their current year tax liabilities. As a self-employed professional, you’re obligated to submit quarterly estimated payments. These installments are scheduled for April, June, September, and January deadlines. While many independent business owners plan to remit their estimates punctually, they discover it challenging to accumulate substantial tax amounts every several months. Countless taxpayers lag behind on these installments, assuming they’ll reconcile them when preparing their annual tax returns. Unfortunately, the filing deadline then arrives and they cannot cover the tax balance. Additionally, they face extra tax penalties for missing their estimated payments.

This scenario may occur for a single year, or it may escalate into consecutive years of federal back tax obligations.

When self-employed professionals find themselves delinquent in their tax responsibilities, catching up becomes extraordinarily difficult. Numerous individuals try to sidestep the overdue tax issue by neglecting to file their returns. Some Michigan taxpayers we’ve assisted had multiple years of unfiled tax documents and no remaining financial records. Certain taxpayers try to address the back taxes but subsequently cannot maintain their current year’s obligations. Some taxpayers believe they’ve fallen so far behind that no tax resolution alternatives exist for them.

Nevertheless, regardless of your circumstances, we can identify what the ideal tax relief approach is for you.

The primary, and often most significant challenge in resolving your tax matter is confirming you achieve compliance with submitting your current year’s tax payments to the IRS. We provide tax compliance approaches to help you manage your quarterly estimated tax remittances. We’ll also support you in establishing methods to maintain your business or independent contractor bookkeeping and documentation throughout the year. This way you’ll constantly know where your business stands concerning income and deductions for the year. By implementing these steps, you can break the cycle of continuously owing the IRS and/or the State of Michigan each year.

Once you have the current year’s tax compliance managed, we’ll transition to resolving your IRS and Michigan back tax balances. To settle your taxes when self-employed, you’ll need to supply information on your current year’s income and business expenses. This exemplifies another reason why maintaining thorough books and records is essential. The IRS will examine both your previous income, combined with your current year projections to evaluate your records.

As self-employed income can vary substantially from year to year, having a representative champion a lower tax obligation proves beneficial, instead of the IRS potentially utilizing an income level higher than you anticipate earning in the current year.

The IRS will also thoroughly examine your business deductions. They may determine that some aren’t “ordinary or necessary” for your enterprise. You need someone representing your interests who can negotiate your tax resolution outcome based on IRS collection standards, not the personal perspective of the IRS agent handling your case. Failing to properly negotiate your income and expenses could result in the IRS placing you into an installment agreement you cannot manage instead of a more favorable back tax resolution, such as an Offer in Compromise.

If you’re a Michigan self-employed taxpayer seeking Tax Assistance For Self Employed In Ann Arbor, MI or surrounding areas, let Austin & Larson Tax Resolution assist you with your self-employed/1099 business tax needs. We’ll help you gain traction with paying your current year’s taxes and organizing your records properly. We’ll then work with the IRS to obtain you the best resolution achievable on your tax debt.

Call us now at (866) 668-2953 if you’re self-employed or an independent contractor and need 1099 tax help.