"Tax preparation is more than putting numbers on
tax forms. Understanding clients' needs and
circumstances and advising them is central to preparing their
tax returns."
Individuals All
matters affecting the tax return are
considered. We may consider filing status and
exemptions. For example, parents might qualify as
dependents or as medical dependents, and in some cases
tax savings may result by not claiming
children as dependents.
Special rules affect how persons in some occupations, such as
commodity trader, day trader, and minister, are
taxed. Planning opportunities
are available for saving for college or retirement,
divorce and separation, dealing with
unemployment, and withdrawing money from retirement
accounts. We consider all of these factors when advising
clients.
Businesses Corporations, partnerships,
LLCs, and sole proprietorships have different tax
characteristics. With clients who are considering
starting a company or who have recently started
one, we discuss these differences and highlight planning
opportunities. Then we review the business's accounting process
and whether the company is compliant with payroll,
sales tax, and income tax requirements. If necessary,
we prepare financial statements.
Trusts & Estates We prepare estate
tax returns (form 706) and estate and trust income tax
returns (form 1041). The discussion touches
on provisions of the will or trust, how the tax is
calculated, and tax saving opportunities. As
an example, in some cases, trust and estate income
tax returns can be combined in a single return,
resulting in significant tax and administrative
savings.
Of course, clients have many
questions about various issues, and these
concerns are discussed.
Clients Outside Chicago Area
Many send their documents to us, and we provide them the same
high-quality service that our local clients enjoy. Some clients schedule phone
consultations or call to discuss specific
matters.
In the past, source documents were rarely sent by email due
to security concerns. Now, with portal technology,
documents can be safely sent electronically.
4 Miles South of the Oakbrook Shopping Center
119 E. Ogden Avenue, Suite 130
Hinsdale, Illinois 60521
630 629-4400
630 455-1190 fax
Email: info@djbrowncpa.com